ITC collaborates with Invest India
NEW DELHI: ITC Paperboards and Specialty Papers Division (PSPD), a leading manufacturer of paper, paperboards and specialty paper in the country, has collaborated with the Invest India to launch the ITC Sustainability Innovation Challenge, which would support innovative start-up ideas on sustainable packaging and smart waste management solutions.
This win-win partnership will enable ITC-PSPD to leverage India’s rich start-up repertoire whilst also providing support to the country’s start-up ecosystem. ITC PSPD, through the Startup India portal, is inviting responses from startups towards challenges laid out by the Company to find sustainable and smart technology-based solutions that can substitute single-use plastics and automate the waste segregation process with smart technology-based solutions to improve efficiency and speed.
The startups selected for the ‘ITC Sustainability Innovation Challenge’ will be offered incentives at various stages of the programme. This includes mentorship from experts, paid pilot opportunity, and assistance in testing and certification at the ‘Development Stage’.
This will be followed by support to enable market expansion and capacity building through funding opportunities in the ‘Early Market Play Stage’. Additionally, startups, at the ‘Late Stage’ will get procurement opportunities and could be evaluated, on a case to case basis, for funding and acquisition opportunities as well.