In a step to strengthen its commitment of nurturing innovations through incubations, Pernod Ricard India Foundation (PRIF) has renewed its partnership with the NSRCEL –incubator of IIM Bangalore to continue supporting startups and promoting entrepreneurship in the circular economy domain. The collaboration, which began with the launch of the Circular Economy Incubator Project in April 2023, has successfully supported nine startups.
PRIF, a non-profit organization, is a wholly owned subsidiary of Pernod Ricard India Private Limited (PRIPL) which has worked across different sectors in water, healthcare, education, environment, and livelihoods. PRIF’s programs are strongly aligned to UN Sustainable Development Goals and situated around national indicators and targets laid by NITI Aayog SDG index.
The project’s cohort includes innovative startups such as Gud Gum, CarbonCraft, Sunbird Straws, Mini Mines, Refillable, Green Banana, Malba Project, Angirus, and, Revy Environmental. These ventures are leading the charge in sustainable business practices and the circular economy realm across aspects like sustainable products and services, tech-enabled end-to-end collection solutions, alternate construction and recycling and waste managements.
Over the past year, this cohort has collectively reduced carbon emissions by 0.36 KT, created 867+ livelihoods, and raised Rs 12 crore in funding.
This renewed commitment aims to strengthen their joint efforts in fostering innovation and sustainability in the entrepreneurial ecosystem.
“We are pleased to renew our partnership with IIM Bangalore-NSRCEL, a premier institution, underscoring our commitment to sustainability and circularity. At Pernod Ricard India, we are unwavering in our pursuit to drive initiatives that not only ignite innovation but also nurture startups dedicated to the circular economy. This collaboration empowers visionary entrepreneurs who are pioneering waste reduction and resource optimization. Together, we are forging a path towards a more sustainable and resource-efficient future, dedicated to creating enduring positive impacts on society and the environment.“, said Gagandeep Singh Sethi, Senior VP Integrated Operation Pernod Ricard India & Director Pernod Ricard India Foundation.
The renewal of this partnership was marked by a significant event, “Responsib’ All day,” a month-long initiative by Pernod Ricard aimed at raising awareness about Sustainability among its stakeholders. Hosted at Pernod Ricard India Headquarters in Gurugram, the event featured a compelling panel discussion titled “Circular Economy – Need of the Hour.” Esteemed panelists included co-founders from leading startups such as Angirus, Refillable, Gud Gum, and Sunbird Straws, alongside Anand Sri Ganesh, CEO of NSRCEL, and Gagandeep Singh Sethi, Head – Integrated Operations, S&R and the Director of PRIF. The keynote address delivered by Jean Touboul, CEO of Pernod Ricard India, set the tone for the MOU signing ceremony, which was followed by an engaging showcase of innovative products and services from the startup cohort.
“We at NSRCEL are excited to continue our partnership with Pernod Ricard India Foundation. This collaboration has enabled us to provide critical support to startups that are making significant strides in the circular economy. As we look ahead, we are committed to scaling our efforts, with a goal to incubate 75 startups by 2026. These ventures will not only drive innovation but also create meaningful impact by addressing some of the most pressing environmental challenges. Together with Pernod Ricard India, we are fostering a thriving ecosystem where sustainable and socially responsible businesses can flourish”, adds Anand Sri Ganesh, CEO – NSRCEL, IIM Bangalore.
In 2023, NSRCEL incubated over 30 startups focusing on Circular Economy & Climate Resilient Agriculture, expanding beyond conventional practices to bioplastics, plastics-free packaging, and Climate Smart Agriculture. NSRCEL’s role in providing networking opportunities has enabled startups like Sunbird Straws to showcase their innovations globally, such as at GITEX Impact Dubai 2023.
