NSRCEL, the innovation and entrepreneurship hub of IIM-Bengaluru, has announced the launch of the second cohort of its Circular Economy programme with continued support from the Pernod Ricard India Foundation (PRIF) as the lead programme partner.
This year, Yunus Social Business has joined the initiative as an Impact Readiness and Alternative Financing Partner. The initiative will focus on four key areas of climate smart agriculture, plastic circularity, alternate materials and green tech with special emphasis on the first two sectors.
A media statement said the second cohort received more 180 applications, out of which 26 were selected for incubation. The cohort cuts across sectors such as climate-smart agriculture, plastic circularity, innovations in waste management, and green tech and alternate materials.
Cut in emission
The top 10 ventures will receive grant funding support from PRIF. Additionally, top two ventures will also receive debt funding from Yunus Social Business Fund.
It said that the first cohort of the programme achieved a reduction of 0.36 KT in carbon emissions, created livelihoods for over 867 individuals, and successfully raised more than ₹12 crore in funding.
Quoting Anand Sri Ganesh, Chief Executive Officer of NSRCEL, the statement said, “Through our partnership, NSRCEL, PRIF and Yunus Social Business remain committed to supporting circular economy start-ups by fostering innovation and creating ideal conditions for scaling. This cohort’s focus on climate-smart agriculture and plastic circularity tackles urgent challenges, and we look forward to supporting the next wave of entrepreneurs as they build sustainable solutions for the future.”
Gagandeep Singh Sethi, Senior VP (Integrated Operations), Pernod Ricard India and Director, Pernod Ricard India Foundation, said, “At Pernod Ricard India, we remain steadfast in our commitment to driving initiatives that not only ignite innovation but also nurture programmes essential for building a circular economy. Our strengthened partnership with IIM-Bengaluru and NSRCEL aligns seamlessly with our sustainability roadmap, centred on the vision of creating ‘Good Times from a Good Place’. By empowering visionary entrepreneurs who are leading the charge in waste reduction and resource optimisation, we are collectively paving the way toward a more resource-efficient future. Together, we are dedicated to creating lasting positive impacts on society and the environment, ensuring that our efforts resonate well into the future.”
Sai Kumar, Principal – Investments, Yunus Social Business Fund, said, “We are proud to partner with NSRCEL and Pernod Ricard India Foundation as the Alternative Financing Partner for the Circular Economy programme. At Yunus Social Business Fund, our focus is on providing impact-driven start-ups with access to innovative financing options. By offering debt funding, we aim to support ventures in climate-smart agriculture, plastic circularity, and green tech, enabling them to scale their solutions and drive sustainable impact.”