IIMB’s NSRCEL hosts ‘Circular Conversations’ for circular economy start-ups and investor fraternity
IIMB’s NSRCEL hosts ‘Circular Conversations’ for circular economy start-ups and investor fraternity The Hindu
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NSRCEL hosts “Circular Conversations: Where Innovation and Impact Collide”
NSRCEL, the incubation arm of the Indian Institute of Management Bangalore (IIMB), organized “Circular Conversations: Where Innovation and Impact Collide,” an interaction that brought together innovators, start-ups, and other stakeholders with a focus on circular economy.
The event was held on 17th November with an aim to showcase the collective efforts by various industry players to drive innovation and create an impact within the domain of circular economy.
More than 45 ecosystem stakeholders including start-ups, thought leaders, incubators, impact funds, academia, and CSR donors participated in the event that provided a platform to discuss, exchange ideas, and foster collaborations that focus on sustainability.
Among the organizations that participated were the World Research Institute, ALSTOM, Rainmatter Foundation, Villgro, Caspian Impact Investments, Avaana Capital, Saahas, Hasiru Dala Innovations, Capgemini, and more.
Young start-ups and enterprises spoke about several challenges that are common across the industry and hindered the growth of start-ups within the domain. These included challenges related to raising funds, policy regulations, customer demand and mindset, and circularity in supply chain – especially in packaging solutions.
Given that sustainable products often come with a premium charge, they noted that it was often a challenge in a market like India where price point is one of the biggest priorities for the customer.
“How do you show value to the customer – that I’m charging a premium because my product is sustainable? Does the average Indian customer care about sustainable products?” wondered Mayank B. Nagori, co-founder at Good Gum, an FMCG start-up making plastic-free chewing gums.
Seetharaman Basavanahalli, co-founder at Indic Initiatives which work towards recycling and upcycling solutions, spoke of the several policy level challenges faced by sustainable start-ups in the country. Experts wondered if sustainable consumption is not a priority for the customer, could the push for it come through policy incentives for companies working towards creating a circular economy.
Innovative solutions
The participants were later divided into groups to explore innovative solutions to address the four major challenges that came up during the discussion and maximize impact.
Strategies were discussed to find the right set of customers, create platforms to promote sustainable products, and change people’s aspirations towards sustainable choices.
When it came to circularity within the supply chain, standardization of materials such as those used for labeling and packaging were one of the solutions put forward.
“It would also make the life of those working in the recycling industry much easier,” noted Divya Tiwari, Principal Scientist and Advisor at Saahas.
It was pointed out that while there is a lot of capital in the global market looking to invest in sustainability start-ups, many of them lacked the confidence to invest in Indian companies due to red tapism and lack of a clean image.
Experts also spoke of the several myths around sustainability – such as paper cups are better than multiuse plastic cups – that currently exist among consumers.
This was the first of many conversations facilitated by NSRCEL in the circular economy space and the organization intends to bring together many more stakeholders going forward.
Dynamic domain
Commenting on the event, Anand Sri Ganesh, CEO of NSRCEL, said, “In the dynamic domains of circularity, sustainability, and climate-tech, NSRCEL leads the way, tackling critical start-up challenges. Our innovative platform empowers founders to explore and influence India’s Circular Economy.”
“Today, at Circular Conversations, we unite visionaries, innovators, and stakeholders to collaboratively shape the future of the circular economy. Anticipating ongoing success, we commit to hosting future events of this nature,” he added.
SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 12: Responsible Consumption and Production | Target 12.2: By 2030, achieve the sustainable management and efficient use of natural resources | Indicator not mentioned in the article |
| SDG 17: Partnerships for the Goals | Target 17.16: Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources | Indicator not mentioned in the article |
1. Which SDGs are addressed or connected to the issues highlighted in the article?
SDG 12: Responsible Consumption and Production
The article discusses challenges faced by start-ups in the circular economy domain, including issues related to sustainable consumption and circularity in the supply chain. These issues align with SDG 12, which aims to ensure sustainable consumption and production patterns.
SDG 17: Partnerships for the Goals
The article highlights the collaboration between various stakeholders, including start-ups, thought leaders, incubators, impact funds, academia, and CSR donors. This collaboration reflects the spirit of SDG 17, which emphasizes the importance of partnerships for achieving the Sustainable Development Goals.
2. What specific targets under those SDGs can be identified based on the article’s content?
Target 12.2: By 2030, achieve the sustainable management and efficient use of natural resources
The challenges mentioned in the article, such as raising funds, policy regulations, customer demand and mindset, and circularity in the supply chain, are all related to the sustainable management and efficient use of natural resources. Therefore, Target 12.2 is relevant to the issues discussed.
Target 17.16: Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources
The collaboration between various stakeholders mentioned in the article demonstrates the importance of multi-stakeholder partnerships in driving innovation and creating an impact within the circular economy. This aligns with Target 17.16, which aims to enhance global partnerships for sustainable development.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
No specific indicators are mentioned or implied in the article that can be used to measure progress towards Target 12.2 or Target 17.16. The article mainly focuses on the challenges and discussions surrounding the circular economy without providing specific metrics or measurements.
4. SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 12: Responsible Consumption and Production | Target 12.2: By 2030, achieve the sustainable management and efficient use of natural resources | Indicator not mentioned in the article |
| SDG 17: Partnerships for the Goals | Target 17.16: Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources | Indicator not mentioned in the article |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: thehindu.com
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