A Hyderabad start-up Banyan Nation has been recognised as TechPioneers 2021 by WEF. It is finally the result of the efforts of Mani Vajipeyajula and Rajkiran Madangopal, founders of Banyan Nation, that aims to disrupt the recycling value chain via tech solutions that push forth source segregation.
Banyan Nation uses two approaches to address the problem of plastic pollution. For starters, it tries to provide mobile technology to integrate informal recyclers into the supply chain. The second approach is to use technology to eliminate contaminants from discarded plastics and produce virgin-like recycled plastic.
The company helped lead FMCG firms by making 100 million shampoo and lotion bottles using recycled plastic. By 2030, Banyan Nation aims to replace 100,000 tons of virgin polymers annually with recycled plastics.
In 2018, Banyan Nation became the first Indian company to win the People’s Choice Award for Circular Economy Entrepreneur as part of the Circulars Awards at WEF held at Davos. Banyan Nation and Kolkata-based Videonetics Technology are the only two Indian companies featured in the World Economic Forum list.
According to WEF, the Technology Pioneers of 2021 will bring together 100 early to growth-stage companies worldwide that are pioneering new technologies and innovations. By joining the two-year journey, Technology Pioneers become a part of the World Economic Forum’s initiatives, activities and events, bringing their cutting-edge insight and fresh thinking to critical global discussions.
These companies become an integral part of the Forum’s global innovators’ community, an invitation-only group of the world’s most promising start-ups and scale-ups at the forefront of technological and business model innovation.