MIF-backed startups saved over 124K tonnes of CO2 emissions in last 12 months

New Delhi, Feb 29 (SocialNews.XYZ) Non-profit organisation Marico Innovation Foundation (MIF)-supported 12 startups have converted innovative plastic waste management solutions into new business models, saving a whopping 124,360 tonnes of Carbon Dioxide (CO2) emissions collectively in the last 12 months, the organisation said on Thursday.

These startups are part of the MIF’s plastics portfolio that was featured in the ‘Innovation in Plastics: The Potential and Possibilities’ playbook, in January 2023.

"This initiative can be a game-changer for India as we move ahead in addressing the plastics problem," Harsh Mariwala, Founder, Marico Innovation Foundation, said in a statement.

"In fact, I believe that by providing a nurturing environment that goes beyond capital, we can build a prototype for plastic waste management for the rest of the world to deploy," he added.

According to the MIF’s playbook, India's plastic consumption growth has been alarming, increasing from 14 million tonnes in 2016-17 to 20 million tonnes in 2019-20.

MIF-supported startups have made significant strides in developing innovative solutions to address the challenge of plastic waste.

For instance, Ibanss and Dharaksha have effectively managed 60 tonnes of agricultural waste using biocraft innovation technology and mycelium respectively.

Other startups like Padcare have recycled 37 tonnes of sanitary pads, preserving 74,000 km of landfill area.

Ishitva Robotics' AI-based sorting machine has sorted 100,000 tonnes of plastic waste, significantly impacting 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.

Source: IANS