The planet is on the brink of an environmental crisis, and sustainability is the need of the hour. According to NASA, it’s more than 95 percent likely that human activity is causing the earth to get warmer, which makes it imperative for us to act.
Businesses and corporations have put sustainability on the agenda and are taking steps toward going green.
To discuss this, Vinay Bansal, Founder and CEO, Inflection Point Ventures, and Anish Basu Roy, Co-founder, TagZ Foods, came together for an insightful panel discussion conducted by YourStory’s Daily Dispatch.
Anish said sustainability is not a choice anymore; it has become a necessity. As a brand, TagZ Foods speaks more to the Gen Z crowd and he believes that they owe it to them to leave the planet in a better condition.
“Right from day one what was very evident was that we wanted to make sure that we employ practices, which are not just best in class but as futuristic as possible in terms of not just product design but also packaging,” he said.
He adds that TagZ Foods has always been plastic-neutral right from the start. They recycled the plastic they generated for their packaging, and eventually moved to reusable or cardboard canisters and handcrafted wooden boxes.
Vinay said, as an investor, they go after what the consumer wants. “If today’s Gen Z is conscious about sustainability or recycling, tuff and that is at the top of their mind, then they will create that demand for sustainable products,” he said.
Therefore, investors will have a preference for businesses that are sustainable in their approach.
Inflection Point Ventures has invested in companies like BluSmart or Kazam and in both cases, the growth has been phenomenal, which indicates that the consumer is willing and interested in sustainable alternatives. “It’s about aligning to the aspirations of the consumer and then taking it forward,” Vinay said.
Speaking about the cost factor, Anish said there is a need for demand from the consumer side and also a willingness to pay. While sustainable products are difficult to sell in Bharat, metropolitan India has a good appetite.
He said TagZ Foods’ primary goal is to provide premium and high quality snacking experiences and make products that are truly innovative. “It’s a multi-category snacking experience company that we are building but while doing so, one of the first few things that we focus on is that we stay away from products that will inherently take us in a direction away from our pledge of being sustainable,” he said.
Lastly, Vinay said Inflection Point Ventures would continue to remain focused on sustainable businesses - especially around areas such as sustainable agriculture, air pollution, and others.
Edited by Teja Lele Desai