IIM Udaipur Incubation Centre Collaborates With Aspirelabs to Promote a Plastic-Free Udaipur

New Delhi: The Incubation Centre at IIM Udaipur has collaborated with Aspirelabs to work towards achieving their goal of making Udaipur a plastic-free city. This partnership of IIM Udaipur serves as an Ecosystem Partner for Aspirelabs Accelerator, aligning with the core value of creating a positive impact in the region.

Together, they have launched the FINILOOP PLASTIC LAB, an initiative that supports and mentors entrepreneurs in the field of plastic waste management. This startup incubation and mentorship program is part of FINILOOP (Financial Inclusion & Improved Livelihoods Out of Plastics), a comprehensive solid waste management model implemented at the city level.

Suresh Dhaka, the CEO of IIM Udaipur Incubation Centre, stated that the use of plastic has been recognized as one of the greatest environmental and health hazards in the 21st century. In India, approximately 20,000 tonnes of plastic waste is generated every day, but only 13,000-14,000 tonnes are collected. To tackle the issue of insufficient collection and recycling systems, IIM Udaipur Incubation Centre has partnered with Aspirelabs.

Together, through the initiative called FINILOOP PLASTIC LAB, to make Udaipur a Plastic-Waste Free City, Dhaka said. The primary objective of the FINILOOP program is to make cities free from plastic waste, while also enhancing the management of solid and plastic waste, empowering informal waste workers with better livelihood opportunities, and promoting innovation in plastic waste enterprises.

The program receives support from the IKEA Foundation and is executed by a collaborative effort involving Aspirelabs Accelerator, WASTE Foundation, and Trust of People. Further, the program has the partnership of strategic organizations like Finish Society, Shriram Institute for Industrial Research, and Take a Stake Fund.

The FINILOOP PLASTIC LAB (FPL) program is a 14-month incubation initiative designed for aspiring entrepreneurs who are determined to address the issue of plastic waste, which arises primarily due to its mismanagement. The program welcomes applicants from all over the country, and those selected will have to join this initiative and contribute to making Udaipur a city free from plastic waste.

Moreover, the startups participating in the program will also have the opportunity to expand their business in Amritsar. The FPL program provides a comprehensive range of benefits to its participants including personalized mentoring sessions with industry experts, B2B meetings to explore potential collaborations, workshops conducted by esteemed business experts, technical assistance for prototype development, pre-demo day and demo-day events, opportunities for securing follow-up funding from renowned investors, support for intellectual property rights (IPR) filing and company registration, prototype grants of up to INR 3 lakhs for the top 10 startups, and 9 months of post-program support. All ambitious entrepreneurs are highly encouraged to submit their applications for this program. The deadline for applications is May 30, 2023, until midnight.

Read More:

• IIM Udaipur Admission 2023 

• IIM Udaipur Launches India's First On-Campus Summer Programme in Management

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