Bio-Plastic

Bio-Plastic: A Sustainable Solution To Traditional Plastic

Dhaka, BangladeshDhaka, Bangladesh
Year Founded:
2014
Organization type: 
nonprofit/ngo/citizen sector
Project Stage:
Idea
Budget: 
$10,000 - $50,000
Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

Traditional plastics that we are using in our daily activities are made from oil and are non-biodegradable. It causes many environmental as well as adverse health effect. At present, finding an alternative to this traditional plastic becomes a burning issue and bio-plastic will be that alternative.

WHAT IF - Inspiration: Write one sentence that describes a way that your project dares to ask, "WHAT IF?"

What if plastics became the best healthy eco-products?
About Project

Problem: What problem is this project trying to address?

PET, PVC, Phthalates, Bisphenol A, Polyester, Acrylic etc are various types of plastics and all of these are non-biodegradable which causes environmental pollution, global warming, natural disasters, extinction of animals etc. Plastics are made from oil containing high level toxic chemicals which causes adverse health effects like cancer, birth defects, chronic bronchitis, miscarriage, asthma, hormonal changes, Teflon flu and so on.

Solution: What is the proposed solution? Please be specific!

Bio-plastics are made from bio-mass sources like vegetable fats & oils, corn starch, pea starch etc. But our bio-plastics are made from banana peels. A plastic bag takes 400-1000 years to degrade itself completely within the environment. Other plastic materials take more time than poly bags. But our bio-plastic won't take that much time to degrade. Our bio-plastic can be reused, recycled, and decomposed easily than the regular ones. As our bio-plastics are completely free from the mixture of toxic chemicals, it never causes any health effect like the traditional ones. By Bio-plastic we are providing a sustainable solution to the non-biodegradable problem of plastics and an encouraging concept of transforming waste into an asset.
Impact: How does it Work

Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.

Government has been forcing firms for a long to stop their use of traditional plastics due to its harmful effect. But plastics are very widely usable matter and finding an alternative to this become tough for firms. Bio-Plastic has started its promotional activities to promote its unique plastic. Once a resourceful person of a firm has noticed the promotional activities of and asked for some sample. With those samples, the firm has produced and tested its product's quality. The firm gets satisfied and has ordered for bio-plastic. The bio-plastic made products attract many customers' attention which helps the firm to do a good business. After seeing it, many firms has started to contact Bio-Plastic and helps it to run its business.

Impact: What is the impact of the work to date? Also describe the projected future impact for the coming years.

In Bangladesh plastics are using in the production of household products, pharmaceutical industry, food & beverage industry, packaging industry and so on. Recently UN has published a report on plastic industry of Bangladesh where it has reported that Bangladesh has a potential local market of more than $1 billion and foreign market of $286 million. The average growth rate of plastic industry is more than 20% each year for the last 20 years. All of this indicates a good future of plastic industry. Bangladesh is exporting its plastic goods more than 30 countries around the globe and it has the chances of expanding its market by ensuring three issues- infrastructural and technical support, environment friendly and health conscious. Our bio-plastic is ensuring all of these three issues and trying to establish it in the current market as the only alternative to traditional plastics.

Spread Strategies: Moving forward, what are the main strategies for scaling impact?

People of Bangladesh are not enough conscious about environment related issues and doing Bio-Plastic is a challenge. Various types plastic based firms are the target customers of Bio-Plastic and they will use our bio-plastic if the market demands for it. Bio-Plastic will use both direct & indirect ways to create these demands. To attract rural customers, it will use rural marketing strategies (awareness campaign, drama, puppet show etc.). Within next 5 years Bio-Plastic is going to capture the local market of raw plastics and after that it will spread its business in neighboring countries.
Sustainability

Financial Sustainability Plan: What is this solution’s plan to ensure financial sustainability?

Bio-Plastic requires $21,500 to start & operate its business successfully in the first year. It operates with a single revenue stream, whereby it will be paid for its outputs - plastic particles. The Net Present Value (NPV) of Bio-Plastic is positive ($32,263.73). Within 3.5 years of operation company will reach the Break Even Point and within 4.8 years it will reach in the Payback Period.

Marketplace: Who else is addressing the problem outlined here? How does the proposed project differ from these approaches?

At present there is no alternative of traditional plastic in Bangladesh. Though people are using jute bags instead of plastic bags and steel made items instead of plastic items, they are limited in numbers and they also use plastic items with those. They feel comfort to use plastic items as they are inexpensive, easy to use and easily available. Firms in Bangladesh produce traditional plastics. No firms unify both environmental and health issues into one closed loop, to offer a unique network and certification for clients’ sales growth and branding.
Team

Founding Story

Once we (Fayaz & Faysal) have attended an awareness campaign of Eastern University Earth Care Club on water pollution near the river Buriganga. At the spot, we noticed the river is filled up with plastic bags, bottles, food waste and many more. Most of those wastes could be reduced, reused and recycled except plastic as it is not bio-degradable. From that moment we started to find a solution of this plastic problem. We have researched on plastic, plastic ingredients and bio-plastic in the lab of Notre Dame College by collecting resources from books, internet and meeting with many chemist as well as environment scientist and finally we have found out a solution. We believe, definitely we will bring a renaissance in the plastics industry.

Team

Faysal Ahamed: Co-founder and Managing Director. Shams Bin Nafiz: Operation Manager. Shanaz Parvin Keya: Marketing Manager. Though they are undergraduate students of Eastern University-Bangladesh, they are successful entrepreneurs of several businesses. Beside this we have a team of skilled and experienced stuffs to work in R&D, Admin, HR, Accounts, Logistics, Production & Marketing.
About You
About You
First Name

Fayaz

Last Name

Yousuf

About Your Project
Organization Name
How long has your organization been operating?

Project
Organization Country

, DHA, Dhaka

Country where this project is creating social impact

, DHA, Dhaka

What awards or honors has the project received?
Funding: How is your project financial supported?

Friends and family, Individuals, Businesses.

Supplemental
Sector

Waste and Packaging, Smallholder Farmers.

Audience: Who have you identified as your customer/recipient groups and do these groups value your solution for different reasons? How do you engage different customer/recipient groups to deliver your solution?

Our first target customer is packaging industries as they use a great amount plastic. Currently they are using traditional plastic though it is harmful and as there is no alternative of plastic is available in the market. We have already talked with many firms and they told they are searching for an inexpensive alternative of plastic. Our other target customers are-
Pharmaceutical firms,
Food & Beverage firms,
Household Appliances Manufacturing firms,
Health & Beauty Care industries and so on.

Scaling the solution: How would the prize money and publicity help you to achieve your objectives over the next two years?

Like a source funding, the Award will enable us to start this project by spending for start-up cost and spending on R&D of the project.

In case of publicity, the award will assist us to commercialize our Bio-Plastic and attract both local as well as foreign market and plastic based firms to test our plastic as an alternative of traditional plastic. The market will grow to US$ 2 billion by 2015 and US$ 4 billion by 2020. Plastic industries forecast an increasing plastic goods consumption of average 20% per year as an implication if no solution is found. With massive publicity, our Bio-PLastic will attract the market with its novelty and practicality.

Experience: Please provide examples of any previous entrepreneurial initiatives you have pioneered

Both of us (Fayaz & Faysal) have won "Best Entrepreneurial Idea" award in the entrepreneurship fair of Eastern University for our jute based products idea "Golden Fiber". This achievement later pioneered us to start our "Golden Fiber" in real. I am also the co-founder of Bdenvironment (First environmental portal of Bangladesh).

Are you are eligible to attend the Accelerator event in Cambridge and subsequent events in London, UK in January, 2015?

yes

Will you require a visa to enter the UK?

yes

Are you are a current Unilever employee?