Content Curator
IIMB NSRCEL and PRIF India launched a one-year program to nurture and scale 20 startups within the Circular Economy realm in April 2023.
New Delhi: A partnership is signed between NSRCEL, the innovation and entrepreneurship hub of IIM Bangalore with the Pernod Richard Indian Foundation (PRIF) to take steps towards innovative initiatives towards a sustainable and circular global landscape.
The PRIF IIMB program was for one year and launched in April 2023 by PRIF and NSRCEL to scale 20 innovations within the Circular Economy Realm. This collaboration motivated many startups like CarbonCraft which works on the alternate construction space, using recovered carbon to produce tiles, and Gud Gum which is a consumer brand that produces India's first plastic-free Sunbird Straws and Chewing Gum, made from coconut leaves.
Leaders of PRIF selected 20 startups from over 100 applications that were sent by entrepreneurs all over the country. PRIF granted about 9 startups focusing on Alternative materials, Waste management, Waste to Energy, and more. Collaborating with NSRCEL, these startups have effectively utilized the grants and developed and deployed their solutions at scale. The collaboration has reduced carbon emissions by 0.36KT, generated 867+ livelihoods, and raised INR 12 Cr in funds.
What is the IIMB NSRCEL and PRIF Collaboration About?
Chief Sustainability Officer and CSR Head, Pernod Richard India Foundation commented, “Circularity has always been at the heart of PRIF’s vision. In line with 2030 Global Sustainability vision of ‘Good Times from a Good Place,’ PRIF has partnered with NSRCEL, for a program on Circular Economy.”
NSRCEL has already partnered with more than 30 start-ups within the Circular Economy and Climate Resilient Agriculture sector in the previous year. As NSRCEL builds larger space, it is looking forward to the partners to support incubation programs for 75 start-ups, with 25 start-ups incubated every year from 2024 to 2026.
Apart from the collaborated support, NSRCEL also provides network access through which ventures TiP Sessions, WITHOUT, and Tadpole Projects have received awards at the Indian Circular Economy Forum 2023.
CEO of NSRCEL, Anand Sri Ganesh stated that “NSRCEL and PRIF, in a strategic alliance, aim to empower the circular economy start-ups by aligning tech, policy support to address industry needs and market stability. This collaboration will assist the start-ups in maintaining sustainable businesses.”
Check Recent IIMB News Here:
- IIM CAT Shortlist Out; Check Details Here
- IIM Bangalore, IIM Ahmedabad and ISB Jointly Organise India Strategy Conference 2023
Subscribe to Collegedunia to get the latest educational news and updates –
Comments