NITI Aayog: and Atal Innovation Mission collaborate to hasten the shift to a circular economy

NITI Aayog: In an effort to hasten India’s transition to a circular economy, the Atal Innovation Mission (AIM) under NITI Aayog teamed up with Hindustan Unilever Limited (HUL) on Thursday to introduce a statewide start-up acceleration program.

Under HUL’s flagship Project Circular Bharat, the project is being implemented.

Over the following three years, AIM and HUL will select and assist fifty promising start-ups as part of the initiative.

Particularly with regard to plastics, these startups will concentrate on circular economy solutions.

The initiative will prioritize breakthroughs in next-generation packaging materials, reuse and refill strategies, and plastic recycling.

Additionally, it will provide assistance to new businesses engaged in material recovery from other waste streams, such as textiles and e-waste.

Investors, policy experts, and business executives will coach the chosen start-ups.

In order to test and grow their ideas, they could also get grant funds and opportunity to pilot their solutions.

The project combines the policy know-how of AIM and NITI Aayog, the robust industrial network of HUL, and the strategic direction of Xynteo to provide a conducive environment for companies that prioritize sustainability.

The collaboration is a significant step in bolstering India’s circular economy for plastics, according to BP Biddappa, Executive Director and Chief People, Transformation and Sustainability Officer at HUL.

He continued by saying that the partnership shows HUL’s conviction that what helps India eventually benefits the business and that the goal of the partnership is to support sustainable start-ups and expedite workable solutions.

The program is in line with the Prime Minister’s view that sustainable development is a commitment rather than just a catchphrase, according to Dr. Deepak Bagla, Mission Director of AIM at NITI Aayog.

In addition to helping unleash solutions that cut waste, enhance recycling, and develop the green industries of the future, he said the partnership would support start-ups that are rethinking how India utilizes its resources.