Championing Sustainability - Marico Innovation Foundation's Vision for a Plastic-Free Future

Over 150 years ago, humanity's quest for a versatile substitute for ivory led to the birth of plastic. Fast forward to today— we grapple with plastic waste's environmental repercussions.

Amidst this challenging landscape, the Marico Innovation Foundation (MIF) stands as a beacon of hope, unwavering in its commitment to fostering innovation for tangible impact. Established by Harsh Mariwala , Marico Innovation Foundation is the CSR arm of Marico Limited . It was founded with the vision to foster disruptive Indian innovations that are creating social, environmental and economic impact. journeys. Through their recent sectoral intervention in plastics, MIF has been working with start-up innovators to expand the adoption of technologies that upcycle and reuse plastic materials—playing a pivotal role in the ongoing battle against plastic waste.

In 2022, MIF took on the challenge of addressing plastic waste, with an aim to foster an ecosystem for innovative solutions. MIF's visionary approach is encapsulated in its unique playbook titled "Innovation in Plastics: The Potential and Possibilities." According to the report, India's plastic consumption has surged to an alarming 20 million tonnes in 2019-20, doubling in just four years.

The report also outlines a resilient circular economy that can be constructed in India and emphasizes the collective responsibility of every stakeholder, from government bodies and corporations to civil society and enterprising entrepreneurs.

Their focus on the plastic waste value chain provides opportunities for collaboration and reform. MIF is dedicated to uniting stakeholders to address global challenges through innovation. To deliver on this challenge, they facilitate mentorship between industry leaders and innovators to solve entrepreneur solutions, addressing their sector-specific challenges. By enabling market access, MIF creates opportunities for innovators in India and globally and facilitates innovative pitches to conglomerates.

Within this landscape, they have nurtured 15 disruptive innovations that can solve issues across the plastics value chain - from collection to sorting, recycling, upcycling, reuse, and finding viable alternatives to plastics (bioplastics). We talk about two such standout innovations below:?

Ricron Panels: Ricron Panels transforms low-value plastic waste into eco-friendly construction materials, offering sustainable alternatives to traditional options like plywood and metal sheets, resulting in significant environmental benefits. Ricron Panels' eco-conscious approach has resulted in significant environmental benefits, such as:

●???? Saving 1,50,000 cubic meters of water

●???? Conserving 400 million mega-joules of energy

●???? Preventing the release of 40,000 tons of CO2 emissions

●???? Usage of 10,000 tons of wastewater

With MIF’s intervention, Ricron has successfully closed a long-term brand-sponsored collection and recycling deal with a large FMCG major to enhance its scale of operations. Scale-Up mentors are also assisting Ricron in establishing a new factory and recruiting talent for its next phase of growth. MIF has also facilitated the onboarding of a strategic board member to Ricron’s board and made connections with relevant investors to raise funds for its ambitious growth.

Ishitva Robotics: Ishitva Robotic Systems specializes in AI-powered waste sorting machinery, enabling material recovery and purity enhancements. MIF played a pivotal assistance in defining a robust go-to-market strategy.?

Through MIF's mentorship, Ishitva was able to define a strategic approach to target the recycling segment as an important priority customer base. Ishitva executed the recommended awareness and marketing strategies, which helped facilitate awareness of brand and generation of qualified leads. Through this Ishitva has been able to create the following environmental impact:

●????????? Processing over 8000 tonnes of waste

●????????? Enabling bringing back more than 4000 tonnes of plastic to circular economy

MIF also provided a platform for fellow plastic waste management innovators, SATMA CE and Refillable, to connect and enter a partnership to utilize SATMA CE’s operational traceability software.

SATMA CE is a SaaS based operational software that provides traceability of circular supply chains using day to day operational data.

Refillable simplifies the transition to a zero-waste lifestyle by delivering refillable glass bottles and offering small quantity refills. They also provide portable dispensing machines for installation in various locations. The collaboration will help Refillable to track its supply chain, enabling it to substantiate its claims of environmental responsibility & demonstrate a positive ecological impact.

Through mentorship activities led by industry experts, MIF has accelerated the journey of many such innovators and continues to explore potential pilots and partnerships to yield long-term impact.

As we envision a plastic-free future, Marico Innovation Foundation’s commitment to innovation, collaboration, and sustainable impact remains unwavering. Their visionary approach, supported by a comprehensive program, strategic mentorship, and success stories like Ricron and Ishitva, pave the way for a world that champions sustainability along with growth.