TAGS: Biobased Solutions
EcoPackers Inc., a social enterprise co-founded by University of Toronto alumna Nuha Siddiqui, has raised $4.3 million in pre-seed and seed financing for its biodegradable bioplastics business.
Main Idea Behind the Start-up
The idea for the startup, which got its start by making packing peanuts from agricultural by-products, was conceived by Siddiqui while she was president of U of T social entrepreneurship club Enactus. The company, developed with the support of the Creative Destruction Lab, now makes an eco-resin that can be used to develop compostable alternatives to a wide array of common plastic goods.
Siddiqui, who graduated from Rotman Commerce, went to great lengths to convince people of her product’s eco-friendly credentials. “
When people didn’t believe that it was 100 per cent compostable, I would eat the product,” she said. “
People were shocked and concerned.”
She said EcoPacker's products are genuinely biodegradable, unlike many other bioplastic products. “
You can put it in your backyard and, after a few rainfalls, it will end up becoming part of your environment and you don’t have to put it through any industrial-level composting systems, which is usually the case with a lot of bioplastics.”
Source: University of Toronto