Hyderabad-based Startup Among 7 Selected to Receive Funding From AIC-GIM
Hyderabad, October 2022: Taking large strides towards minimizing the use of plastics in the Food and Beverage industry, 7 startups have been selected as a result of the Single-Use Plastics (SUP) Challenge organized by the Atal Incubation Center Foundation at Goa Institute of Management (AIC-GIM) in collaboration with Climate Collective Foundation and IHCL brand. Hyderabad-based startup, BioReform Pvt Ltd is one of those selected and shall be receiving funding and guidance from AIC-GIM throughout the pilot phase.
SUP Challenge - Goa is an international acceleration program to address the SUPs demand and waste in the F&B industry. The challenge aims to support innovators to build capacity and pilot their solution with F&B partners in Goa. The challenge assesses the volume of single-use plastics waste and finds ways to reduce its deposition in our environment.
Hyderabad-based startup, Bioreform, produces entirely eco-friendly, compostable, and biodegradable bags that, in contrast to conventional plastic, biodegrade completely in less than 180 days, thus protecting both land and marine life. Based on the specifications of the customer, including printings and unique brandings, they create specialized biodegradable bags.
Mohammed Azhar Mohiuddin, Founder & CEO of BioReform shares “Getting selected from among 78 other driven startups is a big deal to us. The cohort programs were the most helpful in terms of providing us with a first-hand experience as a supplier. The sessions organized by AIC-GIM were the highlight for me as an entrepreneur. They were deeply educational and enlightening as they gave us industry insights as well as informed us more about how we can contribute more towards sustainability through our business. Other than the funding, AIC-GIM also helped us gain easy access to the market.”
78 applications were received from across the country out of which 17 innovative ideas were selected. After an evaluation process, 7 promising startup ideas have been selected to run pilot projects at the Taj Hotel and Convention Centre in Goa. Bare Necessities Zero Waste Solutions, Ibanss, BioReform, Ecopak, Kagzi Bottles, Kasoi India, and Srishti Lifescience have been shortlisted. Each startup has come up with unique, unprecedented ideas to contribute significantly to the ongoing effort towards excessive plastic deposition in the environment.
Rajesh Joshi, CEO AIC-GIM, says, “The SUP Challenge is a challenge that is currently taking place all over the globe as people are slowly realizing the importance of avoiding this climate catastrophe. AIC-GIM is going to provide the selected startups with access to the market, funding, and mentorship. We also have a pool of mentors selected by the Atal Innovation Mission who the incubatees can approach whenever they need any advice.”