Five Indian startups will receive up to Rs 1.6 crore each through grant funding and equity investments
Hindustan Unilever Limited (HUL) has announced the ‘TRANSFORM Plastics Challenge’- a programme to accelerate Indian startups. TRANSFORM is a joint initiative between Unilever, the UK’s Foreign, Commonwealth and Development Office (FCDO), and EY. This challenge, in collaboration with Social Alpha, will help tech startups from India working in the areas of plastic waste management and circularity.
The TRANSFORM Plastics Challenge will identify startups working on developing technology solutions for processing plastic waste, economically viable reuse, or refill models, as well as material or substrate level innovations that make packaging recyclable or compostable.
The Challenge invites startups who are already building innovative and scalable solutions to apply and ensure that plastic waste does not end up in landfills and oceans but stays in the circular economy.
Smita Rakesh, Vice President & Partner, Social Alpha says, “We are looking for disruptive innovations that will contribute to reducing the amount of plastic in the value chain and introducing circular models to packaging.”
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