New Delhi: Packaged shopper items agency Hindustan Unilever Restricted (HUL) on Tuesday introduced the launch of a programme that can supply grants and mentorship to Indian tech startups working within the space of plastic waste administration and circularity.
The ‘Remodel Plastics Problem’ is a joint initiative between Unilever, the UK’s Overseas, Commonwealth and Improvement Workplace (FCDO), and EY, in collaboration with Social Alpha.
As a part of the programme, 5 Indian start-ups will obtain as much as ₹1.6 crore every by way of a grant funding and fairness investments, together with mentorship and assist for scaling their enterprise.
The Remodel Plastics Problem will determine start-ups engaged on growing know-how options for processing plastic waste, economically viable reuse, or refill fashions, in addition to materials or substrate stage improvements that make packaging recyclable or compostable.
The programme will search purposes from start-ups which can be already constructing progressive and scalable options to handle plastic waste administration.
“True to the spirit of Remodel, we intend to assist speed up Indian start-ups in constructing and scaling options which have the potential to be adopted at a worldwide scale. We’re excited to work with Social Alpha to assist empower the following era of start-ups that can pave the trail to a waste-free world,” stated Deepak Subramanian, Government Director, Dwelling Care, HUL and Basic Supervisor, Dwelling Care South Asia.
HUL has spelt out its dedication to accumulating and processing extra plastic than it sells, and utilizing 100% reusable, recyclable or compostable plastic packaging, by 2025. In 2021, HUL achieved its accumulate and course of purpose, 4 years forward of schedule, the maker of Dove soaps and Knorr soups stated.
“Entrepreneurship powered by innovation has an enormous potential to handle the issue of plastic waste and create impression by way of new materials improvements, materials recycling, full packaging redesigns, and maybe a extra elementary rethinking of supply to the tip buyer,” stated Smita Rakesh, Vice President and Associate, Social Alpha.
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Supply: Live Mint