Hyderabad: New-age plastic recycling start-up Banyan Nation from the city has become the first Indian firm to win ‘Dell People’s Choice Award for The Circular Economy’ at the World Economic Forum (WEF) at Davos on Monday. The start-up based in T-hub is founded by Mani Vajipey and Raj Madangopal.
Speaking to DC, Mr Madangopal said, “We just won, and it is an amazing thing for us, for India and for the recycling management industry in general. We will have a series of interactions and will know the impact of this over a period of time.”
Banyan Nation’s path-breaking work for Tata Motors in the recycling of automotive bumper and its partnership with L’Oréal, the French cosmetics giant, in shampoo bottle recycling, put the company on the global map.
Mr Vajipey earlier said, “The recognition at the WEF is a testament to the strength of innovations such as ours coming out of India. In the next decade, almost all mainstream plastic products, including food-grade packaging, will contain recycled materials. We see Banyan at the forefront.”
The Circulars, an initiative of the WEF, is the world’s premier circular economy awards programme.
The award offers recognition to individuals and organisations across the globe that are making notable contributions to the circular economy in the private sector, public sector and society. The award was decided on the basis of online voting.
