Marico’s innovation report in response to the plastics challenge

Marico Innovation Foundation (MIF), a leader in recognising game-changing innovations, announced the launch of the first of its kind playbook that can be the key to unlocking latent opportunities to address the swelling global challenge that plastic waste presents.

18 Jan 2023 | By Rahul Kumar

The report provides actionable solutions across the plastics value chain

The report titled, Innovation in Plastic: The Potential and Possibilities, provides actionable solutions across the plastics value chain which can aid and address the challenges of plastic waste management for India in the short, medium and long term – from collection, to sorting, to recycling and also providing viable alternates to plastics. 

Marico Innovation Foundation collaborated with Indian Institute of Science (IISc) and Praxis Global Alliance as knowledge partners to develop the playbook. The partners assisted in identifying the challenges created by plastic waste at macro and commercial level as well as outlining opportunities and recommendations in the plastic waste management space while dispelling myths, especially on bioplastics. The research methodology comprised of in-depth assessment with corporate leaders, start-up ecosystem players, industry experts, and scientists. 

Raghunath Mashelkar, Padma Vibhushan and honourary emeritus chairperson of governing council of Marico Innovation Foundation and Jury chair, said, “This timely report succinctly captures not only the problem of plastic waste but also proposes very imaginative solutions that can not only stand to benefit our nation but the world. The report is a comprehensive playbook for both public and private sectors alike on how plastics can be reimagined and repurposed now and in the future.” 

The playbook also features 15 innovations that are not only first to the nation but also first to the world in some cases that address plastic waste with their unique and path-breaking solutions. The report also lists model communities and cities that have addressed the plastic waste challenge through a host of innovative initiatives. 

Harsh Mariwala, the founder of Marico Innovation Foundation and Chairman of Marico, said, “We understand the critical need to build an ecosystem that can help deliver innovative solutions for global problems. It is why MIF came into existence and has been at the forefront of India’s innovation story. Plastics was ripe for this intervention. The playbook is only the first step to helping evolve an ecosystem for innovation within this sector. MIF is committed to creating a long-lasting and meaningful change and will be actively involved in helping innovations in this endeavour, thrive.”

Amit Chandra, honorary chairperson, governing council, MIF, and chairperson, Bain Capital India Office, said, “Some of the innovations featured in the playbook are not only India-first but also world-first with their potential to solve for plastic waste management, circularity, replacing plastics with more sustainable solutions that diverse stakeholders including governments and businesses can benefit from.” 

He added, “With the right ecosystem support these innovations hold the promise of delivering viable game changing solutions that could reframe the future for generations to come.”

Stepping away from the notion of treating plastic as a problem MIF provided a fresh solution forward perspective at the event, with Ankur Warikoo presenting the innovations featured in the report in an interactive session to the audiences present. 

Find a copy of the report here: Innovation in Plastics | The Possibilities & Possibilities.