Startups backed by MIF have prevented more than 124K tonnes of CO2 emissions in the last year.
New Delhi, Feb 29 (IANS)- Marico Innovation Foundation (MIF) has announced that 12 startups supported by the foundation have successfully converted innovative plastic waste management solutions into new business models, collectively saving 124,360 tonnes of Carbon Dioxide (CO2) emissions in the last 12 months. These startups were featured in the ‘Innovation in Plastics: The Potential and Possibilities’ playbook in January 2023.
According to the MIF, India’s plastic consumption has been on the rise, reaching 20 million tonnes in 2019-20 from 14 million tonnes in 2016-17. The initiative by MIF has the potential to be a game-changer for India in tackling the plastics problem, as stated by Harsh Mariwala, Founder, Marico Innovation Foundation.
The startups have made significant progress in developing innovative solutions for plastic waste management. For example, Ibanss and Dharaksha have managed 60 tonnes of agricultural waste using biocraft innovation technology and mycelium. Padcare has recycled 37 tonnes of sanitary pads, preserving 74,000 km of landfill area.
Furthermore, Ishitva Robotics’ AI-based sorting machine has sorted 100,000 tonnes of plastic waste, leading to energy conservation by saving 265,000 tonnes of oil barrels. Innovators like Ricron Panels and Angirus have recycled 1,338 tonnes of plastic waste through innovative construction products.
The Marico Innovation Foundation aims to provide a nurturing environment beyond capital to build a prototype for plastic waste management that can be replicated globally. The success of these startups showcases the potential for innovative solutions in addressing the growing challenge of plastic waste in India.–IANS
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