Nadathur S Raghavan Centre for Entrepreneurial Learning (NSRCEL), the innovation and entrepreneurship hub of IIM Bangalore completed the second cohort of its Circular Economy Incubation Program, with support from the Pernod Ricard India Foundation (PRIF) and Yunus Social Business as an Impact Readiness & Alternative Financing Partner.  This year, the incubation portfolio comprised of startups in climate smart agriculture, plastic circularity, alternate materials and green tech with special emphasis on the first 2 sectors.

The program which started in Sep’24 included a grant support for 10 ventures along with an additional top-up component for 2 top ventures. In addition to the grants, the incubation program entailed capacity building for the startups on topics such as Sales and Go-to-market strategy Working Capital Management, Pricing Strategy, Valuation, market Linkages, Alternate Sources of Funding and Impact Measurement for Circular Economy Startups.

The program concluded with a bootcamp and a networking event 'Climate Dialogues: Scaling Circularity through Collaboration'. The event was attended by dignitaries and panellists like Anand Sri Ganesh, CEO, NSRCEL, Mr. Madhu N Prasad , Senior Manager - External Affairs, Pernod Ricard India, Mr. Madanmohan Rao,  Co-founder, MXR.world, Mr. Mayuresh Raut, Co-Founder & Managing Partner – Seafund;  Ms. Sailee Rane, Strategy Lead, Ecosystem Messaging - Rainmatter Foundation; Ms. Piyushi Taunk, Senior Brand and Partnerships Lead, Echoes of Earth Music Festival; Mr. Benedict Paramanand, Founder – SustainabilityNext, Bangalore Business LitFest and Green LitFest and Mr. Nachiket Kulkarni, AVP – Social Entrepreneurship, NSRCEL.

At the event, Anand Sri Ganesh, CEO of NSRCEL, stated, "Through our strategic partnership, NSRCEL and PRIF remain committed to supporting circular economy startups by fostering innovation and creating ideal conditions for scaling. This cohort’s focus on Climate-Smart Agriculture and Plastic Circularity tackles urgent challenges, and inspires us to delve deeper into some of these themes with a long-term ecosystem lens".  

Mr. Gagandeep Singh Sethi, Director - Pernod Ricard India Foundation stated “At Pernod Ricard India, we are committed to  support innovative solutions that address critical environmental challenges. Our partnership with NSRCEL in the Circular Economy incubation program highlights this commitment to fostering sustainable practices. The work of these start ups on Climate-Smart Agriculture and Plastic Circularity is truly inspiring, and we are excited to see their contribution and impact”.

Here is the list of ventures that received grant support from the incubation program: Apratima Biosolutions, VAPAC Bio-plastics,  Greenovate Solutions, , Centre for Grower-centric Eco-value Mechanisms, GoFig, , VGFS Technologies Private Limited,  Rechain Technologies Private Limited, Agrozee Organics Pvt Ltd,  Mavron Tech Pvt. LTD and Unbubble. Since November 2024, the cohort has collected/upcycled/recycled more than 9L kgs of waste and prevented generation of more than 1.5L kgs of waste while creating more than 160 direct livelihoods.