A group of 5 Indian students and we want to do further analytical research, then we want to set up a factory so that we can make it commercially available to the common people which will in return decrease.
EntrepreNEWS speaks with the team lead, Shivendra Tewari about the idea and how it is becoming a business.
We have made an innovation which aims at converting waste polyethene into ethanol, a greener fuel it does not create pollution and it is also used in pharmaceuticals. Ethanol is a greener fuel and other useful products will also be formed like propanol, butanol and other higher family alkenes which are having monetary value.
How did you come up with the idea?
Our team is very intellectual and it tries to connect each and every step which is taught in our classes. And science is all about connecting. Our teacher told us about polyethene structure and then we read many books to know more about PE and we got to know that we can convert PE into ethene [and other useful products] and after that we thought of making some new thing, then we started studying about what are the thing that are manufactured from Athena and we came to know that we can make alcohol [i.e ethanol,propanol,butanol] from it.
What or who inspired you to start your business?
We were preparing for NCSC i.e. National children’s science congress, which is a biggest science fair India and we were told to make a new innovation.
From there only we got inspired to do something to benefit the country and also for mankind. And when we were studying about it, we came to know that ethanol is much demand in India and also in other countries from there only this journey started.
Who is your target market?
Our target markets are:
- Manufacturer of ethanol
- Recycling firms.
Why should people/your target audience use this kind of product/service?
With our novel process, manufacturing of ethanol will be affected with our project we are able to give society a cleaner and cheaper fuel which is beneficial for the whole mankind.
We have also calculated the cost effectiveness of our idea, we are happy to say that it would be able to make much more money as compared to conventional processes of manufacturing ethanol.
How have you financed your business?
Till now we have not financed it, but we are searching for investors all around the globe to fund our project.
What five key things have you learned since starting your business idea?
- Be passionate
- Take risks
- Never give back.
- Try your best
- Lastly, innovative ideas can only make your business grow.
Tell us about some of the challenges you face.
We were not able to get funding for doing further research, i.e. for quantitative analysis.
More information about them here.