CSIR-NIIST Transfers Vegan Leather Producing Technology To Kerala-based Startup

The Council of Scientific and Industrial Research - National Institute for Interdisciplinary Science and Technology (CSIR-NIIST) has partnered with a Kerala-based startup company, Alter Wave Eco Innovations Pvt. Ltd., to transfer the technology it developed for manufacturing vegan leather.

This collaboration aims to create an eco-friendly alternative to animal leather using plant sources like pineapple leaves, banana stems, and rice straws, without relying on plastic as a core material.

The technology developed by CSIR-NIIST allows for the conversion of agricultural waste from Kerala's pineapple farms, which is approximately 720,000 million tonnes, into sustainable biomaterials. This initiative not only provides an environmentally friendly product but also offers farmers an additional income stream by upcycling these resources.

It's a significant step towards sustainable manufacturing and could have a positive impact on both the environment and the local economy. The technology transfer agreement was signed at the NIIST campus in Thiruvananthapuram, marking it as the fifth such technology transfer from CSIR-NIIST and the first of its kind in Kerala.

The Vegan Leather Technology of CSIR-NIIST is easily biodegradable, has good water retention and heat resistant capacities, Good strength, stiffness and microwave friendly.

AWEI is set to utilize the technology developed by CSIR-NIIST to manufacture eco-friendly replacements for animal leather using plant sources like pineapple leaves, banana stems, and rice straws. This innovative approach does not rely on plastic as a core ingredient, making it a sustainable option in the fashion and automotive industries

Incorporated in this year, the young start-up company AWEI is located in Malayattoor, in the Ernakulam district of Kerala, which is known for its extensive pineapple farms. These farms produce a significant amount of agricultural waste, estimated at 720,000 million tonnes, which can now be upcycled into non-toxic, durable, leather-like materials.

AWEI's mission aligns with sustainable manufacturing practices, focusing on plant-based, biodegradable, high-performing materials. By tapping into nature's abundant agricultural biomass, AWEI not only contributes to environmental conservation but also provides local farmers with an additional income stream.

The technology transfer agreement was signed at the NIIST campus in Thiruvananthapuram, with the presence of officials including C Anandharamakrishnan, Director of CSIR-NIIST, and Jeswin George. The initiative by AWEI and CSIR-NIIST is a step towards remaking materials with a focus on sustainability and performance.

Kerala-based EV Charging Solutions Startup chargeMOD Raises ₹2.5 Cr in Pre-Seed Funding from Phoenix Angels

Kozhikode, Kerala-based chargeMOD, a charging solutions provider for electric vehicles, has raised ₹2.5 crore in Pre-Seed Round of funding from Phoenix Angels, a Thrissur-based angel network, announced the startup.

The fresh funding will allow the startup to accelerate growth of its products, which include a 3.3kW AC charging machine and a 60kW charging station, for domestic and commercial use respectively.

Founded in 2019, by M Ramanunni, V Anoop, Advaith C and Chris Thomas, chargeMOD is a subsidiary of BPM Power Private Limited and was incubated under Kerala Start-up Mission (KSUM), a central agency of the Government of Kerala for entrepreneurship development and incubation activities in Kerala.

chargeMOD has developed EV charging points for home and commercial use and their mobile app enables users to find charging stations nearby. Their product focuses on providing reliable, convenient solutions for EV owners on the go. Some of the prominent projects that startup has executed include those in partnership with Larsen & Toubro, Murugappa Group, Kerala State Electricity Board (KSEB) and Kochi Metro Rail Limited.

The startup claims to be one of the top EV charging companies in India, managing over 2,000 chargers in their system and holding over 90% of the market share in Kerala’s EV charging ecosystem.

About Phoenix Angels, it is a new Kerala based angel network formed by Shiraj Jacob, Joe Ranji and Harikrishnan V focusing on investing in Kerala-based startups.

Unlike other regular angel networks, Phoenix does not take a share in the profits earned by its investors. Phoenix Angels works on a fixed annual membership model, collected from all members. All members are required to pay a joining fee at the time of signing up.

Federal Bank Backs Kerala-based Robotics and Automation Startup ASIMOV Robotics

Federal Bank continues to pioneer technology driven innovation. Walking the talk, the bank, has a thriving team at their Digital Centre of Excellence (DCE), a young and dynamic team working at the Kerala Start-Up Mission premises to jam with the fintech ecosystem and is progressively moving ahead in the AI innovation space. The bank’s FedHive is its one stop digital command centre that enables the brand to instantly manage online reputational risks, generate new opportunities and offer enhanced customer service.

This belief in technology and the leverage it can give businesses and societies, is in line with the Digital India and Make in India initiatives. Federal Bank is actively supporting innovation in areas of healthcare, hospitality, public transport etc. In line with the thought, the bank gave tail wind to ASIMOV Robotics Pvt Ltd, a firm innovating in the robotics space, by sanctioning a loan to further their growth ambitions.

Commenting on the above, Shyam Srinivasan, MD & CEO of the bank said, “We follow our mantra ‘Digital at Fore, Human at Core’ as our lifeline. Over 230+ RPAs (robotic process automation) and 300+ APIs are helping us both increase productivity and engage meaningfully with a range of Fintech Partnerships. As a socially responsible and digitally empowered corporate, we have made inroads in supporting firms to convert their finest ideas into reality which would ultimately benefit the society at large."

The firm's robot, SAYABOT received the loan sanction order from Shyam Srinivasan, MD&CEO of the Bank in the presence of Kuriakose Conil, Senior Vice President and Zonal Head, Ernakulam Zone, M V S Murthy, Chief Marketing Officer, promoters of the firm, and other officials of the bank.

The robot demonstrated a preview of its abilities to take up everyday tasks, with deftness and dexterity. Clearly, technology is a force multiplier, in our Nation's progress. And Federal Bank continues on its journey to Serve भारत, with India’s Trust.

Federal Bank (NSE: FEDERALBNK) is a leading Indian private sector bank with a network of around 1,300 banking outlets and 1,886 ATMs/Recyclers spread across the country. The Bank’s total business mix (deposits + advances) stood at ₹ 3.35 Lakh Crore as on 30 June, 2022. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.57% as on 30th June 2022. Federal Bank has its Representative Offices at Dubai and Abu Dhabi that serve as a nerve centre for Non-Resident Indian customers in the UAE.

The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City). Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well-defined vision for the future as a guidepost to its progress.

Kerala Startup 'Buyfie' Chosen For South Korea's In2Korea Acceleration Programme

In what could be considered as a moment of immense pride for the state of Kerala and the entire Indian Startup ecosystem, Kerala-based hyperlocal e-commerce firm Buyfie is one of the 30 startups to be chosen from all around the world for the highly prestigious and popular acceleration programme, in2Korea, according to PTI.

Launched by the Korean government to lure foreign startups to the Asian country, In2Korea is run by Korea’s National IT Industry Promotion Agency (NIPA) and South Korea's Ministry of Science and ICT (MSIT).

The selected startups don't have to part away with any equity and are given mentorship, office space in a startup campus in Pangyo near Gangnam and assistance in obtaining a Korean Startup Visa as soon as possible.

According to the press release, Buyfie found a place in the chosen 30 because of its minimum viable product (MVP). Incorporated in 2016 as Axen Software Pvt Ltd in Technopark, Buyfie is a labour of hard work of three brothers, Praveen S S Pranav S S and Prabin S S.

Buyfie is an e-commerce company designed to become the market leader in online shopping from local stores. Considering the fact that even in today's internet savvy age internet proliferation in local retailers daily business is very low, Buyfie founders created a solution to help out the local retailers.

The startup provides a complete e-commerce platform for local stores to sell their "products" means goods or services with payment gateway integration, customer care, logistics management (if needed), business analytics and digital marketing support. It is available on both web and mobile devices.

According to the startup's website, they started Buyfie with a compelling Vision "To be India’s Largest hyper-local online e-commerce company reaching out to 75% of India’s population by 2020." The website also reads that their ultimate aim is to enable rural India to access technology.

The Kerala-based startup is incubated under Startup Dreams, a social sector initiative by the Scheduled Castes Development Department in association with the Kerala Startup Mission.

in2Korea's chosen 30 will get mentored by other entrepreneurs who have established and run businesses in South Korea. Additionally, they will also get a direct access to Korean legal, financial and human resources experts who can help startups incorporate their businesses in Korea.