17 November 2021, Mumbai:
Team SharX from the Xavier Institute of Management, Bhubaneswar, has won Welspun’s ESG (Environment, Social and Governance) innovation challenge – Disruptor.
Team SharX will receive seed funding of Rs 10 lakh from the Welspun Group for its business proposal that focused on an overarching ESG narrative with an effort at tackling fashion’s adverse effects on the environment, sustainability, and more.
The winning team was among 100 teams shortlisted in this competition and built on the concept of circular economy and proposed a solution to reduce fast fashion waste while promoting rural women’s welfare.
They were announced as winners following four rounds of competition. Welspun found their idea of an advanced approach to combat environmental issues through e-commerce unique, scalable, and embedding the values of circular economy at its core.
Disruptor was a competition launched by Welspun in August 2021 as a platform for young entrepreneurs to present path-breaking ideas of sustainable ESG business solutions. This program, under Welspun’s Welocity initiative, is a celebration of the spirit of entrepreneurship as the organization continues to recognize ESG as an inextricable part of today’s evolving business landscape.
Welspun, one of India’s fastest-growing global conglomerates, is adding to its capacity in towels, sheets, and rugs. The towel capacity will increase by seven percent. Sheets will increase by 20 percent and rugs by 80 percent.
