Hyderabad-based Recykal Ranks 4th Among Fast Company’s 50 Most Innovative Companies 2023

Recykal ranks 4th out of Fast Company’s 50 most innovative companies, joins the ranks of OpenAI, Disney, Tiffany & Co., and more

Recykal Named to Fast Company’s Annual List of the APAC’s Most Innovative Companies for 2023

Recykal has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies APAC Region for 2023.

This year’s list highlights the businesses at the forefront of their respective industries, paving the way for the innovations of tomorrow. These companies are setting the standard with some of the greatest accomplishments of the modern world. In addition to the World’s 50 Most Innovative Companies, 540 organizations are recognized across 54 sectors and regions.

“Recykal is on a mission to transform the way we think about waste management in India. Powering sustainability by tech, Recykal isn’t just promoting a circular economy, but also creating a platform for efficient channelisation of waste. With a healthy growth and 4,00,000 MT of waste channelised till now, we aim to make waste a resource in India's sustainability game,” said Abhay Deshpande, the founder of Recykal.

Recykal recently launched a pilot Digital DRS campaign - Sabka Saath, Swachch Kedarnath in Kedarnath. 11,000 QR codes were distributed across all shops in the temple area that resulted in 52% improvement in the collection and refund rate. What intrigued the pilgrims and local government is the tech intervention where plastic waste generated could be traced back to the user. Sabka Saath, Swachch Kedarnath not only incentivized pilgrims to collect and return their bottles, but also improved the collection and recycling rates, and boosted the local recycling economy.

The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides a firsthand look at the inspiring and innovative efforts of companies across all sectors of the economy.

“What a strange and thrilling year it has been to honor this year’s Most Innovative Companies.

This year’s list compiles some of the most cutting-edge groundbreakers who are changing our world every single day, from legacy organizations like McDonald’s to upstarts like MrBeast and institutions such as NASA. Everyone on this list does something completely, uniquely different, yet, they all have one thing in common: innovation,” said Fast Company editor-in-chief Brendan Vaughan.

Fast Company will host its third annual Most Innovative Companies Summit on April 19 and 20. The virtual summit celebrates the Most Innovative Companies in business, and provides an inside look at cutting-edge business trends and what it takes to innovate in 2023. Fast Company’s Most Innovative Companies issue (March/April 2023) is available online here, as well as in-app form via iTunes, and on newsstands beginning March 14. The hashtag is #FCMostInnovative.

ABOUT RECYKAL

Recykal is a clean-tech startup headquartered in Hyderabad. As an end-to-end digital solutions provider, Recykal facilitates transactions for all stakeholders across India’s waste management & recycling value chain to promote more efficient and effective recycling of local plastic waste. Revolutionising the waste-commerce sector with digital innovations led to the recognition as a ‘Technology Pioneer’ by the World Economic Forum; other honours include Grant Thornton - Sabera Awards as a Responsible Business of the Year, Best Waste Management Digital Technology Player by Assocham, Excellence in Waste Management as a PRO by CII 3R Awards, and Best Soonicorn by BusinessWorld.

ABOUT FAST COMPANY

Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.

Here're Top 10 Innovative Indian Companies by Fast Company

Last week, Fast Company, a monthly American business magazine published its list of the World’s Most Innovative Companies for 2019. JioSaavn along with other Indian companies such as Dream 11, Chai Point, Ola have made it to the list.

The list honours the businesses making the most profound impact on both industry and culture, showcasing a variety of ways to thrive in today’s volatile world. Half of the companies on this year’s MIC 50 list are appearing for the first time.

#1 Jio Saavn

Jio Saavn is a music streaming app formed post merger of Jio Music and Saavn and offers more than 40 million tracks in 15 regional languages for 38 million monthly active users, has been ranked 1st in the list of top 10 Indian firms in Most Innovative Company on a country basis.

#2 OYO

Gurgaon-headquartered budget accommodation firm OYO, which recently got a Unicorn stats, has got the 2nd position in the list. Fast Company chose OYO for its coveted place for expanding its hotel options to appeal to business travellers. Oyo, which resembles US-based Airbnb, is a network of properties that include free Wi-Fi, free breakfast, white linens, and other hotel features for a fraction of the cost of a normal hotel.

#3 Saathi

Amedabad-based Saathi Eco Innovations  [Feature Story] makes biodegradable sanitary napkins for rural women in India and has coveted the 3rd position for the most innovative companies from India.

Last year, in Cleantech Open Global Forum held in Los Angeles Saathi was announced winner for developing a technology to make fully biodegradable and compostable sanitary pads made from waste banana tree fibre.

#4 RupeeCoin

Hyderabad-based RupeeCoin, the first entry in the list has secured the 4th position. It is a blockchain solution startup which allows people without a bank account or a credit card to engage in the digital economy.

#5 OLA

Bangalore-based cab-hailing firm Ola, which recently got massive $900 million investment from Flipkart co-founder Sachin Bansal, grabbed the 5th rank. It has expanded to a network of more than 1 million vehicles--cabs and autorickshaws--across 169 cities.

#6 Chakr Innovation

Delhi-based Chakr Innovation has secured the 6th position. The innovative startup has developed the world’s first retro-fit emission control device for diesel generators. It uses technology to reduce emissions from diesel generators and bring down air pollution levels.

#7 ShareChat

Bangalore-based ShareChat is a social networking and regional content platform for the fast growing Internet users in India. With ShareChat one can share videos, jokes, GIFs, audio songs and funny images from India in Indian languages like Hindi, Telugu, Marathi, and Malayalam.

#8 Swiggy

The food delivery company that recently raised $1 billion infunding has got 8th position for excellent food delivery service.

#9 Chai Point

A Harvard alumnus founded company, ChaiPoint made the entry for the first time and received the 9th position. It is India’s largest organized Chai retailer and caters to corporations with a cloud-based beverage service called BoxC, an IoT-enabled automatic tea dispenser.

#10 Dream11

Mumbai-based Dream11 made its entry for the first time and got the 10th rank. It offers Indian sports fans a platform to showcase their sports knowledge. Fans can create their own team of real-life players from upcoming matches, score points based on their on-field performance and compete with other fans.

Recently, International Council of Cricket (ICC) has signed a deal with Dream11, India's biggest sports gaming platform, to make it its "Official Fantasy Game Partner" till 2023.

Top Featured Image by Vivek Doshi on Unsplash.com

World's 100 Most Innovative Companies, TCS #40 ahead of Google at 47

Forbes, an American business magazine has published list of 100 most innovative companies in the world. Companies are ranked by their innovation premium that is - the difference between their market capitalisation and a net present value of future cash flows from existing businesses. As criteria to be in the list companies should have certain threshold for their R&D spending, seven years of public financial data and $10 billion in market cap.

Salesforce, a market leader in Cloud CRM softwares made it to the top of the list followed by Alexion Pharmaceuticals and VMWare all three companies are from US. China's search engine Baidu is on 6th position followed by Amazon at no.7.

As a good sign for Indian industries 3 companies from India made it to the World's most innovative companies in the world - Tata Consultancy Services (TCS) at no.40, Infosys at No.53 and Bajaj Auto at No.68. Notably here in the list TCS from India is 7 places ahead of Google which is at no.47.

Forbes has used data till August 2013, as a result Facebook could not make it to the list although it could have been in top 10 if Forbes have had used only 2012 data.

To everyone's surprise big online tech companies which are NOT in the List are -  Facebook, Microsoft, Twitter, Samsung and Intel.

However as expected companies included in the list are - Amazon at No. 7, Google at No.47, Apple at No.79 and Yahoo Japan at no.38.

Below is the list of Top 25 most innovative companies in the world:

Rank	Company	Country	12-Month Sales Growth (%)	5-Year Annualized Total Return (%)	Innovation Premium* (%)
1	Salesforce.com	United States	32.1	21.6	72.8
2	Alexion Pharmaceuticals	United States	39.2	38.4	72.3
3	VMware	United States	16.3	19.0	63.7
4	Regeneron Pharmaceuticals	United States	128.3	65.8	63.1
5	ARM Holdings	United Kingdom	22.5	47.9	61.2
6	Baidu	China	44.6	32.8	60.6
7	Amazon.com	United States	23.0	31.0	60.2
8	Intuitive Surgical	United States	18.3	5.2	53.9
9	Rakuten	Japan	14.1	23.1	50.7
10	Natura Cosmeticos	Brazil	-3.9	14.5	48.5
11	Henan Shuanghui Investment & Development	China	5.2	16.8	48.0
12	Coloplast	Denmark	1.1	37.2	46.5
13	Cerner	United States	12.5	34.4	45.9
14	Unicharm	Japan	4.9	19.4	43.5
15	Estee Lauder Cos	United States	5.3	25.5	41.4
16	Jerónimo Martins	Portugal	8.1	19.9	41.3
17	FMC Technologies	United States	16.5	14.4	40.8
18	Tencent Holdings	China	52.8	39.6	40.7
19	Starbucks	United States	11.5	39.3	40.6
20	Pernod Ricard	France	-1.4	10.0	40.5
21	Beam	United States	8.8	9.6	40.0
22	Perrigo	United States	11.8	30.3	39.9
23	Essilor International	France	5.0	20.0	39.3
24	Beiersdorf	Germany	2.4	11.2	38.3
25	Grifols	Spain	4.7	9.8	38.2