Introduction to Banyan Nation start up
The project of Banyan Nation came as a start-up on July 13th, 2013, when founder Mani Vajipey was seeking a degree at Columbia Business School.
But how did the idea come to the founder?
So during Mani Vajipey’s travels across India, the drainage system, filth, and squalor made him think about the unhygienic condition in which people have to dwell.
This motivated him to build a startup agency that would solve India’s waste management system through technology and a new business model.
So he, along with Raj Madan Gopal, started this productive venture.
What does it do?
The motive of the Banyan Nation is to manage waste mainly from factories and for mass consumption, which mainly compiles plastic waste from industries and recycles them for further use in the industry.
The Banyan Nation then makes polyethylene using those waste which is reusable and hence harmless.
Banyan Nation endeavours with FMCG companies to trade its recycled plastic made into shampoo and lotion bottles.
The operation of the start-up
There are two ways that Startup operates
The first is to use mobile technology to bring informal recyclers into the supply chain, and the second is to use technology to remove contaminants from discarded plastics and produce virgin-like recycled plastic.
Achievements of the start-up Banyan Nation
- In 2021, the start-up Banyan Nation was named a Technology Pioneer by the World Economic Forum.
- In the last one year, over 300 million FMCG bottles have been produced from Banyan’s recycled plastic for clients.
- The company was a winner of the World Economic Forum Global Technology Pioneers (2021),
- Circulars Award at the World Economic Forum (2018 Intel-DST Award Innovations for Digital India (2017),
- Millennium Alliance Grant (2016), and
- mBillionth Award (2015)
- Banyan Nation and Kolkata-based Videonetics Technology are the only two Indian companies to be featured in this list by WEF.
In 2018, the company became the first Indian firm to win the People’s Choice Award for Circular Economy Entrepreneur as part of the Circulars Awards at WEF.
The clients of Banyan Nation are that include
● Hindustan Unilever,
● Reckitt, Shell and
● HPCL
Future endeavours of the company
● First and foremost, The company aims to have an installed capacity of 50,000 tonnes by 2024.
● The founders believe that collaborations with other start-ups, large corporations, policymakers, and customers can bring about a systemic change in how Indians view plastics and how the world views India—as a trailblazer in sustainability.
Maybe we will be able to see a new sustainable and much-developed start-up company with Banyan Nation.
Conclusion
The company is a very good start-up that has reduced pollution over the time and helped the idea to be infrastructure-wise strong and potent when it comes to waste reduction.
EDITED BY – Riya Agrahari
Read More : Bambrew – A Startup Encouraging Agriculture and Local Business
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