Hyderabad-based Banyan Nation is a pioneer in leveraging data intelligence to integrate thousands of last mile waste collectors and generators into its supply chain.

Banyan Nation becomes first Indian startup to be shortlisted for WEF Circular awards
Atom Startups Thursday, January 04, 2018 - 23:30

Hyderabad-based plastic recycling startup Banyan Nation has become the first Indian firm to be shortlisted for The Circular Economy awards at the World Economic Forum to be held at Davos in January.

According to a statement from the company, Banyan’s path breaking work for Tata Motors in automotive bumper recycling and its partnership with L’Oréal, the French cosmetics giant, in shampoo bottle recycling put the company on the global sustainability map.

Banyan Nation, a T-Hub startup, is a pioneer in leveraging data intelligence to integrate thousands of last mile informal waste collectors and large bulk waste generators into its supply chain. The company developed a proprietary plastic cleaning technology that converts collected plastic waste into near virgin quality recycled granules (Better Plastic™) that global brands can use to make mainstream products and packaging.

“It is our mission to help brands sustainably Make In India by replacing the use of virgin plastic with recycled plastic that is comparable in quality and performance. The recognition at the World Economic Forum is a testament to the strength of innovations such as ours coming out of India. Within the next decade, almost all mainstream plastic products including food grade packaging will contain recycled materials. We see Banyan at the forefront of this paradigm shift,” Mani Vajipey, Cofounder & CEO, Banyan Nation said.

Founded by Mani Vajipey and Raj Madangopal in 2013 as a plastic recycling startup, Banyan Nation initially mapped out waste collectors across Hyderabad through a mobile app and was engaged in segregating and recycling plastic.

It also signed MoU with the Telangana government to support it in developing a standard operating procedure for government-generated e-waste where the government will use Banyan Nation’s IoT-enabled dashboard for waste management.

This is Banyan Nation’s second partnership with the Telangana government after it tied up with the state government for efficiency in waste management.

In June 2016, it also won the Intel & DST Innovate for India Challenge 2.0, for which it created a zero-waste platform to streamline and automate urban recycling operations at all stages.

The Circulars, an initiative of the World Economic Forum, is the world’s premier circular economy award program. The award offers recognition to individuals and organizations across the globe that are making notable contributions to the circular economy in the private sector, public sector and society. The annual awards are hosted at the World Economic Forum’s Annual Meeting in Davos.