You are extremely familiar with your business model as a…
Waste management and recycling are very important topics in India. Unfortunately, recycling is not very common in most parts of the country and one of the problems many households face today while disposing off their recyclables, is the inconvenience involved as well as the absence of professional services. The reason for it being that 90%+ of this sector is unorganized.
And this is an Indian problem that Shankrith Narayan and Neeraj Shetty want to solve. So in order to do so they started Recycle Redeems in 2015 and with it they created a reward based gamification model to engage more households in the recycling circle.
What differentiates Recycle Redeems from its competitors is that they do not offer cash to the households but grant them discounts and coupons with an average value of Rs 150 (EUR 2) or alternatively the households can make a donation to local not-for- profit organisations.
Despite the fact that the company is very young they already managed to generate revenues and so we were really interested in meeting the Heads behind the Recycle Redeems idea. In case you want so more about the young team feel free to watch the clip here: