NSRCEL and Pernod Ricard India Foundation Strengthen Circular Economy Innovation

NSRCEL, the startup incubator at IIM Bangalore, in partnership with Pernod Ricard India Foundation (PRIF), has successfully concluded the third cohort of its Circular Economy Incubation Program, marking another milestone in their ongoing collaboration to drive sustainable innovation in India. The program offered a range of curated interventions, including structured mentoring, industry linkages, grant support, and strategic guidance. These efforts enabled founders to accelerate their journeys from prototype and pilot stages toward early revenue generation and growth readiness.

A total of ₹95 lakh in grants was disbursed to the cohort of 10 startups in tranches.

The cohort’s achievements are further underscored by notable external recognitions and funding milestones. Hydroplas was awarded the Government of India’s TIDE 2.0 grant, while Reneonix successfully raised a ₹1.7 crore pre-seed round led by Inflection Point Ventures. Billion Carbon earned recognition as the winner of the Zydus Innovation Challenge and secured the first runner-up position in the Zomato Agri Innovation Challenge 2025. Inventive Scientific Minds was also featured in Forbes India’s “Top 100 Startups to Watch for 2025” under the “Leap to Unicorn” category, highlighting high-potential ventures shaping India’s future. Now in its third consecutive year, the partnership continues to support startups working across climate-smart agriculture, plastic circularity, and glass circularity. The program reflects a shared commitment to fostering scalable, market-ready solutions that address pressing environmental challenges.

Commenting on the program’s impact, Anand Sri Ganesh, CEO, NSRCEL, said:
“Through this partnership with Pernod Ricard India Foundation, we are seeing a strong convergence between sustainability and scalable business innovation. The progress demonstrated by Cohort 3 reflects not only the resilience and ingenuity of the founders but also the importance of structured support in helping startups translate circular economy ideas into commercially viable solutions. We remain committed to enabling entrepreneurs who are building for both impact and growth.”

Ms. Anantika Singh, Senior Director - CSR , Pernod Ricard India said: At Pernod Ricard India Foundation, we believe that the future of sustainability lies in enabling innovation that is both impactful and scalable. Through our partnership with NSRCEL, we are proud to support entrepreneurs who are building practical, circular solutions to some of today’s most pressing environmental challenges. The progress of this cohort reinforces our commitment to strengthening the circular economy ecosystem in India while creating long-term value for communities and society.”

These accomplishments reflect the strength of the program’s design and its ability to nurture high-impact startups that are not only environmentally conscious but also commercially viable.

As NSRCEL and PRIF continue their partnership, the focus remains on enabling entrepreneurs to build innovative, circular solutions that contribute meaningfully to India’s sustainability goals while creating long-term economic value.