ITC Paperboards and Specialty Papers Division (PSPD), a leading manufacturer of paper, paperboards and specialty paper in the country, has collaborated with Invest India to launch ITC Sustainability Innovation Challenge’.
The Challenge will support innovative start-up ideas on sustainable packaging and smart waste management solutions. This win-win partnership will enable ITC-PSPD to leverage India’s rich start-up repertoire whilst also providing support to the country’s start-up ecosystem.
The Sustainability Innovation Challenge underlines ITC’s engagements with the start-up ecosystem, in collaboration with Invest India, to crowdsource out-of-the box ideas for phasing out single-use plastics by 2022, said Vadiraj Kulkarni, CEO of ITC PSPD.
“Innovative start-ups will be able to showcase Made-in-India solutions that propel India towards a circular economy,” said Deepak Bagla, MD and CEO of Invest India, which is a non-profit venture under the Centre’s Department for Promotion of Industry and Internal Trade.
ITC PSPD, through the Startup India portal, is inviting responses from startups to find sustainable and smart technology-based solutions that can substitute single-use plastics and automate the waste segregation process with smart technology-based solutions to improve efficiency and speed.
The startups selected for the ‘ITC Sustainability Innovation Challenge’will be offered incentives at various stages of the programme. This includes mentorship from experts, paid pilot opportunities, and assistance in testing and certification at the ’Development Stage’.
This will be followed by support to enable market expansion and capacity building through funding opportunities in the ’Early Market Play Stage’. Additionally, startups, at the ‘Late Stage’will get procurement opportunities and could be evaluated, on a case-to-case basis, for funding and acquisition opportunities as well.
The deadline to submit proof of concept is February 28, 2022.
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