TGP Bioplastics

Packaging for sustainable future

Business Plan
By,
Indrajeet Nikam
Karan Chavan
Tejas Zagade

www.tgpbio.com
 Executive Summary
TGP Bioplastics has developed and tested biodegradable plastic
packaging for a growing market of 15% CAGR at a cheaper price
with a unique and patented blend of starch.

Due to the increasing global concern towards plastic pollution, governments are
seeking biodegradable alternatives to plastic. While customers want low-cost
packaging irrespective of its biodegradability. The biodegradable plastic and
non-plastic options for packaging in the market are not affordable to the common
consumer. This created a huge gap between product and market.

We have developed a biodegradable plastic material which can replace

conventional plastic used for single-use carry bags, garbage bags and some types of
industrial packaging. We are a B2B company selling plastic granules which are
processed and formed into bags of desired shapes and sizes by packaging
industries. This material is 25-30% cheaper than current biodegradable plastics
available in the market. Currently, all biodegradable plastic grades are either
imported from China or Germany. Whereas we manufacture major parts of raw
material on our own and plan to supply the same material in the Indian
biodegradable plastic market at less cost and uncompromised quality. This plastic
has the same mechanical strength as that of conventional plastic grades along with
the biodegradability. We are a B2B manufacturer who will supply plastic granules
with a gross profit margin of around 27%.

The Indian market for plastic bags is more than 1.4 million metric tonnes. The
demand for biodegradable plastic in India is more than 10,000 tonnes per year.
Globally, more than 35Mn tonnes of carry bags are used annually. The consumption
of biodegradable plastic is 410,000 tonnes per year across the globe. Biodegradable
materials CAGR according to the IHS Markit report is 9%. Many reports suggest it
surge to 15-21%.

Currently, Trugreen, Sunny enterprises and Regino are three major companies
working in biodegradable plastics in India. Most companies are importing their raw
material, granules, from China so their polymer becomes costlier than our material.
There are hundreds of certified Indian biodegradable plastic bag manufacturers &
sellers who buy this raw material from these companies. We will supply our
material to existing biodegradable plastic manufacturers with the same quality but
at a low-cost. Other indirect competition is from cotton bags and paper bags. These

2
will definitely hamper our market but due to insufficient raw materials supply,
higher costs and low mechanical properties, they cannot compete with us in many
aspects.

We are three founders. All of us are from engineering backgrounds. We started this
venture in August 2018 after our graduation. We have worked with each other on
many projects for the past 4 years. It is worth mentioning that along with strong
technicals in the manufacturing process, our team has impeccable values when it
comes to humanity and the environment. That makes us work together for a
sustainable environment.

In our own survey with the eighty bulk buyers of biodegradable plastics, we came
across the current annual consumption of 9,600MT to 12,516MT of biodegradable
granules in India only. 22 bulk buyers with total monthly consumption of 314 MT
have demanded us granules samples to test our material at their manufacturing
facility after initial reviews.

We have completed research and filed a patent for the grade of plastic which is
required for retail packaging. Two more patents are in the process to be filed. After
a certification period of six months, we want to be operative in Dec 2020. We have
also done PoC for 3D printer filament which can be made from our material with
some minor changes and should be ready with the product in the next year.
However, looking at the large market size, currently, we are focusing more on the
packaging sector.

Our company believes in the philosophy of ‘double bottom line.’ We just don’t want
to make profits but we are also interested in conserving the mother earth as much
as possible. Our team strongly believes that business should be done for serving
customers profitably with least possible harm to the ecosystem. Our venture is
reflection of our thoughts.

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 Table of Contents

Executive Summary 2

Opportunity 6
Problem 6
Solution 10
Brief Process of Manufacturing 12
Price 13

Market Analysis 14
Total Addressable Market 14
Segmented Addressable Market: 14
Share of Market: 15
Competitive analysis: 16

Execution 18
Operations 18
Marketing and sales 19
Pricing 19
Distribution 20
Key Assumptions and Risks 20

Company Overview 21
Vision 21
Missions 21
Company Description 21
Intellectual Property 22
Legal structure and ownership 22
Awards and recognitions 22

Team 23

Financial Plan 24
Sales Projections 24
Funds and usages 25

Annexure I: Photos 27

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 “The benefits of plastic are undeniable. The material is cheap, light and easy to
manufacture. These qualities have led to a boom in its production over the past
century and the trend will continue. It is estimated that world plastic production will
skyrocket in the next 10-15 years. We are currently unable to cope with the amount
of plastic waste we generate. Ultimately, addressing one of the greatest
environmental scourges of our time will require governments to regulate,
companies to innovate and people to act.”

- United Nations, Environment​ -

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Opportunity
Problem
Consumption of packaged goods has increased significantly in the past
decade. Packaged Food, E-commerce couriers, retail carry bags, garbage
bags are some of the major contributors to the packaging industry. Retail
packaging includes carry-bags, wrappers, garbage bags, etc. Most of the
plastic used for all the purposes is used only once in their lifetime and
hence called ‘Single-Use Plastic.’ However, the nuisance caused by this
plastic can prevail for many centuries.

India alone generates 9.46 million tonnes of plastic waste annually, of

which 7.3% (0.6 Mn Tonnes) consists of Carry bags, retail bags and garbage
bags. Only 40% of plastic waste is recycled. However, India has also
announced its commitment to eliminate all single-use plastic by 2022, one
of the most ambitious targets in the world. There are 60 countries across
the globe that have made commitments to address this issue.

Globally, it is estimated by the UN that 5 trillion bags are used annually.

Only the US Accounts for 100 billion bags, i.e. 300 bags per person per
year.

Some Governments have put blanket bans, some have levied extra taxes.
In many places, the government has asked the seller to take back the
packaging after use and give back some amount to the customer as a
buyback price. In this model, the seller has the responsibility to collect the
waste. This model is called ‘Extended Producers Responsibility (EPR).’
However, it is practically impossible for the customer to go to the industry
or collection centre established by that industry and give them the
packaging back. This model has failed practically in India. As they say,
recycling is a failed industry!

Jute Bags and cotton bags are said to be one of the alternatives to plastic bags.
After imposing bans, these bags were in favourite talks and the market for the
same was booming. In the long run, Jute bags are cheaper than plastic bags. India is
the largest producer of Jute with a whopping share of 60%. But they have their own
limitations. Jute bags cannot carry the liquid load. Ex. Garbage bags need to be
water-proof as they may contain leftover foods. Also, customers don’t think about
the long run. Most of them prefer cheaper over long-running. Even the production
of jute or cotton on such a huge scale is impossible.

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Paper bags are also one of the alternatives given to conventional
plastic. But paper causes more harm to nature than good. Also, they
have very poor strength to carry loads. Imagine going with a paper
bag in the rain!

Plastic recycling has its own limitations in terms of a number of

times we can recycle the material. After sometime, the material
cannot be recycled and will have to be thrown out.

Why Plastic so famous?

Simply, Plastic is chosen over anything else because of following

main reasons,
● Cheaper than anything else
● High strength and elasticity
● Weather resistant
● Easy to manufacture and scale

But​…
The only flaw in Plastic is that it is N
​ ot Biodegradable​.

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Plastic can remain in nature for a few hundred to thousand years
depending upon its type. ​Millions of animals die due to eating
plastic. ​Microplastics are a new threat which is quite visible today.
The plastic which is dumped openly, degrades in small particles
known as ‘Microplastics.’ Unknowingly, we are consuming 5 grams
of plastic weekly, a study suggests.

Conventional Plastic has strength and it is weatherproof. The

problem is that they don't degrade in the environment.
Biodegradable plastic has all the qualities of plastic with added
benefit of being biodegradable and compostable within 6 months of
disposal.

Due to this, many countries are regulating the usage of conventional

plastic and promoting the use of biodegradable alternatives.

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Biodegradable Plastics:

Here comes a new player which has all the mechanical and physical
properties of Plastic but it is also biodegradable in nature. In general
terms, biodegradable material is defined as a material which can
decompose in nature by microorganisms and after decomposing, it
doesn’t leave any toxic residue.

There are many biodegradable materials available today in the

market. To name a few, PLA (Polylactic acid), PHA (Poly hydroxy
-alkanoate), PHB (Poly hydroxybutyrate) etc. These are derived from
biological sources such as sugars and cellulose. Other materials
such as PCL and PBAT are derived from petroleum sources.

Bottleneck:
In most of the cases where plastic packaging is used, the customer
and user are different. When we buy something in the market,
generally the cost of packaging is paid by the seller and not by the
customer. Naturally, the seller will choose a less costly option to
increase their profits. However, Biodegradable plastic is costlier
than conventional plastic. ​People want affordable plastic
irrespective of its biodegradability. Whereas ​governments are
concerned with biodegradability​. The product should be so that it
will fulfil the demand of both stakeholders.

The Problem is…

The market needs A
​ ffordable​ and B
​ iodegradable​ Plastic with
Same strength​ and capacities.

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Solution
Despite the growing concerns about the environment and reality
that global warming is a monstrous threat to humanity, very few
people are engaged in remedies to cure this situation. Very few are
serious about it. Everybody knows that the situation is worsening
day-by-day but nobody wants to help unless and until it's that
urgent.

The initiatives taken by companies to mitigate this problem are far

less than the quantum of this problem.

Our Solution:

TGP Bioplastics has combined Affordability and Biodegradability to

solve this problem. We have developed a new material which is
cheaper than today’s biodegradable plastic but with the same
strength. We are using a unique and patented1 blend of starch with
some chemical modifications which gives us high strength at low
price and with very low manufacturing costs.

How do we do it?
Rather going in the complex chemistry of polymers, we researched
about the cheapest natural polymers available in nature. We got to
know a very common name- Starch. Attempts of making viable
plastic from starch have been made by several scientists and
polymer engineers. But due to its own nature, starch is affected by
moisture in the atmosphere. Also it is rigid and does not elongate as
normal plastic does.

To replace plastic, we have to fulfil the four main parameters of

usability.

Low Cost:
There are a lot of materials available today in the market which are
biodegradable. But most of the contemporary biodegradable plastic
products cost more than Rs. 240/Kg. The Cheapest biodegradable
polymer today is PBAT which is at Rs. 230 to 240/Kg. But
conventional pl​astic costs around Rs. 90/Kg​. Hence a very small
segment of the market is willing to purchase this biodegradable

1
Patent-pending with patent application No. 201921041337

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plastic. Many retail chains, malls, hotels have started using
biodegradable plastics in their applications.

But as biodegradable plastics are getting cheaper, this is enabling

new market opportunities. Large consumer goods companies and
fashion brands have started showcasing sustainability as their value
proposition and consumers are liking it. More importantly
consumer readiness to pay more is increasing rapidly.

Strength:
Conventional methods of starch based plastic have very low
strength. The plastic made from starch should have strength
comparable with normal plastic. Along with strength, plastic needs
to be flexible. Something should be added to improve the flexibility.
But, this was a strong mindset created in our team that they were
looking for low cost materials. Whatever material we might use, it
should be affordable, as that is the main objective.

We found Glycerine which has been used for decades. Glycerine

provides necessary elasticity and flexibility which is needed for
rough working conditions. This makes a solution, popularly Known
as ‘Thermoplastic Starch (TPS).’ It was invented many decades ago
but was not used practically for a number of reasons. TPS does have
more strength than normal starch but still not enough.

Weather-proof​:
Properties of TPS can be adversely affected by moisture in the
atmosphere. Thus it is impossible to manufacture a commercially
viable product from it.

Here comes our Secret Sauce!

After some research, we found out two additives which can surpass
these shortcomings of TPS. Nanomaterials are extremely fine
particles of a material which are proven to increase strength and
other mechanical properties at even addition of less than 1%. This
makes them different from other materials. But the problem with
nanomaterials is that they are very expensive.

We have developed an industrially scalable low cost manufacturing

method. Usually nanomaterials give extremely high strength which
is actually not required for normal operations like carry bags,

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garbage bags, food packagings, etc. We have found an intermediary
step where we don’t make expensive and too-good-to-use
nanomaterials. Rather we make them in a form which is not exactly
nanoform but still gives sufficient strength. This makes the
manufacturing of the material in desired forms at low costs. We
blend this with TPS in specific conditions and machines. This
material, too, is biodegradable.

To increase the elongation, we also add another biodegradable

material which gives us proper elongation and also helps to be
weatherproof. The proportion and method of manufacturing are
the secret sauce. As per our survey, nobody else has ever used
them in any industry as a commercial product. We have done prior
art search and filed patents as well.

Brief Process of Manufacturing

We blend these all materials in a proportion and use them as raw
material for the next step which is c
​ ompounding.

Step I Step II

Pre-processing Processing

Mixing of Materials in proper Actual machining to manufacture

proportion granules

Compounding is a type of mixing where special machines are used to

form a new compound out of the fed materials. This process is
carried out in machines called ‘Twin Screw Extruders.’ The machine
process is complex. Process parameters for our material are
different than the conventional polymers. However, we tried
rigorously and differently and were able to process our composition
practically.
In the Twin screw compounder machines, heat is supplied to the
material which makes it melt and mix with each other properly.

This melted polymer is cooled and cut into granules. These granules
are our product.

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They can be used by industries where they can melt them again and
form into any size of plastic film they wish to make. Currently, Sunny
Enterprises, Trugreen bioplastics, Regeno are some of the companies
which provide granules of biodegradable plastic for plastic film
manufacturing. Our customers need no separate machines to
process our material. They simply have to do some minor changes in
temperature.

Fig. Biodegradable Granules developed by TGP

Price
The price of our material ex-works is Rs. 180-220/Kg . Which is more
than 10-25% cheaper than today’s lowest priced biodegradable
polymer. This price includes all the direct and indirect costs such as raw
material, logistics, processing cost, labour and gross profit margin of
around 27 to 30% depending upon grades. However, Our competitors
cannot do so due to a technical constraint.
---

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Market Analysis

Total Addressable Market

Plastic packaging is generally divided into two main categories. Rigid
packaging and Flexible packaging. Rigid packaging included Cans,
bottles, etc. which are rigid in nature as their name itself suggests.
Flexible Packaging consists of wrappers, carrybags, garbage bags,
food packaging foils, etc. Today, mostly LDPE (Low Density
PolyEthylene) is used for this packaging. As per PLASTINDIA 2018
report, total Polyethene consumption for film and lamination
production i.e. for packaging purpose in 2016-17 is 2,06 MMTPA2.
Lack of other viable alternatives to plastic and its continuously
growing demand makes it a fascinating market to step in.
Polyethene demand is growing annually at ~ 15-21% CAGR. A major
part of packaging can be replaced by biodegradable plastic.
We are working in the ​Flexible Packaging market.

Global consumption of Biodegradable plastic is 410,000 Tonnes per

year and is increasing with CAGR of more than 9%.

Segmented Addressable Market:

Plastic packaging accounts for a major percentage in total plastic
consumption in all over the world. A CPCB (Central Pollution Control
Board) report3 shows that plastic waste collection of India is at
25940 Tonnes/day. 10-15% of that waste comprises retail carrybags
and garbage bags. It can be concluded that per year around 1.4 Mn
Metric ton of bags are consumed in India itself.

“Our product can replace all

types of carry-bags and
Garbage bags.”

We are segmenting the market only for the carry bags and the
garbage bags of all sizes and types. Market research shows, currently
India consumes more than 89,000 Tonnes of general-purpose carry
bags per year. Now in India, plastic is being banned and it will take at
least a year to fully impart this ban on the ground.

2
MMTPA= Million Metric Tonne Per Annum.
3
https://www.cpcb.nic.in/uploads/plasticwaste/LCA_Report_15.05.2018.pdf

14
Indian consumption of biodegradable plastic packaging is
nearly 10200 Tonnes/year for 2019-2020.

The European and Australian market is well aware of

biodegradability and environment. The purchasing power of these
nations is also higher than that of developing countries.
Biodegradable carry-bags are being used there already. In 2015, the
EU consumed approx. 69,000 tonnes. It is estimated that in 2020,
more than 182,000 Tonnes of biodegradable carry bags will be used
in the EU.

​ lmost all the governments in the world are banning single-use

A
plastics partially or fully. Consumers are being aware of plastic
disposal issues. Some corporates and organisations have already
started to cut their plastic consumption and many are setting
different targets to reduce plastic consumption. Corporates and
organisations are switching on biodegradable options.

Share of Market:
Target Market:-

● Existing Indian plastic carry bag manufacturers.

● Biodegradable bags Importers from Europe and Australia.

We are planning to achieve ​1360 MT of Indian carry bags and

garbage bags market in the first 18 months of operation. Export
demands will be supplied as per prior demand by clients and
preferred more for higher price payments.

Many Indian carry bag manufacturers are operating at their low

production capacity due to existing plastic ban. They can restart
their production with our plastic. Their experience and existing
distribution network will create rapid expansion opportunities for
us. ‘Affordable Biodegradable’ will open new markets such as malls,
retail chains and other similar buyers because existing options such
as cloth bags, jute bags, paper bags are costly.

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 T
​ he right time for the right opportunity:

The current scenario creates the right time to enter this huge market.
Biodegradable plastic is expected to grow 15-21% CAGR. But, we are
expecting more growth due to the current market awareness.

Competitive analysis:
1. Price and Quality

Two main parameters for industries to purchase granules are low-cost

and high quality. Unfortunately, today industries don’t get sufficient
quality at affordable rates. Hence they are forced to sell biodegradable
products at high costs which reduces their market base. We, on the other
hand, give the same quality at 25% cheaper rates.

2. Conventional Process adaptability

Existing starch-based biodegradable plastic manufacturers are Envigreen,

Regino, Avani Bioplastics and Enviplast. Their plastic grades need
specialised machinery for bag manufacturing which increases CAPEX and
restricts rapid expansion of starch-based plastics. Some of the plastic
grades dissolve in water making it seasonal and limits its applications.
Our grade is ​cheaper, non-water soluble and can be ​processed in the
conventional machinery​.

3. Technological barriers in manufacturing

Biodegradable polymers such as PLA, PHA and PHB which are most
sought after, are prepared by fermentation. Fermentation becomes a
major barrier as it takes days to complete the process and thus increases
cost. We have totally excluded fermentation which makes us extremely
price competitive. Reduction in the cycle time in production
,differentiates us from our competitors. ​Their extra processes add
difficulties for them to bring their prices down​.

Competitors Price (Per Kg) Biodegradability

Trugreen 220 Yes

Sunny Enterprises 220 Yes

Regino 230 Yes

TGP Bioplastics 180 to 220 Yes

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 All these companies import raw material from China and with some
modifications they sell these materials in the market. Whereas, we
are manufacturing it and have a huge scope to reduce our costs
without impacting quality of the material. They can also be our
customer for the raw material in the future.

Indirect Competition​:

Jute, cotton, hemp and Paper bag manufacturers are indirect

competition to us. Presence of these products definitely hampers
our market. But they have their own share which is very small when
looked at the market. There are many limitations to these types of
bags. Nobody goes to Malls, clothing stores, and medical shops with
a bag with them. E-commerce packages will never be delivered by
such bags. Few people may take bags to grocery stores but that
doesn’t affect much. Though customers are the real users, the shop
owner actually pays for the bags. It will be in his favor if these costs
are drawn down.

Future Products

Penetration in specialised flexible packaging:

Our plastic is also having favorable properties for electronic anti-static packaging. It
is also breathable and has optimal barrier properties. Being anti-static makes it
suitable for packaging of electronic goods. While the barrier properties make it
viable for bakery packaging and sanitary products. In next five years, TGP would
focus more on growing horizontally along with their base products so that more
market opportunities will be explored.

Applications Properties responsible Possibility of success

Bakery packaging Food safe & barrier properties High

3D Printing filament Amorphous nature High

Electronics Packaging Anti-static nature High

Diapers & Sanitary pads Softness and formability Medium

Liquid Packaging - Low

Table. Future product line and possibilities

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Execution

Operations
We are planning to partially outsource manufacturing for the first
year to minimise capital expenditure. There are two main processes
for preparing our material.

1. Preprocessing the raw material.

2. Compounding in twin screw extruder.

Preprocessing will be done inhouse. While the compounding will be

outsourced. The inhouse facility is planned so that with very minimal
modifications and almost no additional capex it can be used to
manufacture at rates of 440 Tonnes per month i.e. 5280 Tonnes per
annum

We have planned a manufacturing facility with capacity of 4800

tonnes/annum. Management of Operations, supply chain and
networking is pre-planned for this capacity. Every resource of ours is
made capable of handling this huge production to avoid
bottlenecks. Plant is so established that we are ought to get profits
from economies of scale.

For the first year, we have current demands of 1360 MT of material

as this is confirmed demand for our material. This is surveyed by us
personally with special focus on Maharashtra. There should not be,
problem in maintaining an uninterrupted supply chain as all
facilities are underused. To minimise logistics, we have tried to keep
both processes as near as possible. This will also help to export
from nearby ports like JNPT.

All outsourcing will be done with strict non-disclosure agreements.

Unfair Advantage

We have patented our invention and the process is expected to

complete before April 2021.

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Marketing and sales
Initially, we will be selling only biodegradable plastic granules
required to manufacture carry bags and garbage bags to existing
buyers of biodegradable plastic manufacturers. Currently, they are
selling their bags to retail, hospitals and housekeeping businesses.

For plastic film manufacturers , TGP Bioplastics can provide the cheapest
ever granules for the same strength unlike our competitors.

We are in the B2B manufacturing sector. Till now, we have got

orders through our network, website and cold calling. In the future,
we are planning to exhibit our product in exhibitions and trade
expos related to the plastic industry. This has proven to target the
right customers in less time.

During our own survey with the seventy Indian bulk buyers of
biodegradable plastics we came across their consumption of 850 MT
per month. With the proposition of ‘low cost at same quality’, ​22
industries have asked us for samples whose cumulative demand is
around ​314 MT per month​. Once they test them, we are pretty
much sure that most of them will give purchase orders. There is a
very high possibility that we could reach the sales target in the
decided time.

Two Indian exporters also inquired with us for both granules and
bags, one of them was with the monthly buying quantity of 20MT.
Apart from this, we are also having some leads from Spain, Australia,
UAE and Uganda for biodegradable bags. Our product features and
low prices can really attract many buyers from across the world.
China is one of the major exporters of these biodegradable plastics.
After COVID crisis, the world is looking for alternatives to Chinese
suppliers so we are expecting more export opportunities in the near
future.

Also, there can be separate teams looking especially towards

marketing and brand building.

Pricing
Technically, the price of our product can go down till ​Rs. 180 to
195/Kg​. But, we are spending more on the research and
management team for long term sustainability. Current market

19
rates which are around Rs. 215 to 230 at least, we wish to fix our
price near ​Rs. 195-220 keeping gross profit margin at around 27
to 30%. While fixing our price, we have taken care that we are
covering our expenses even if raw material prices are hiked without
notice. After negotiations raw material prices may go down which
will result in more profits.

Distribution
We will be selling our granules directly to existing biodegradable
plastic bags manufacturers. They will directly buy material from our
facility.

Key Assumptions and Risks

● There won’t be a drop in the price of competitors more than
25%
● Government policies are going to be more strict for
conventional single-use plastics.

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Company Overview
Vision
To create an environment-friendly packaging solution. We believe in solving
global environmental issues through entrepreneurship. We are truly seeking
for the best people with high moral values. We wish to integrate the best
resources in the world to create a sustainable future.

Missions
● To capture the 20% market of biodegradable plastic granules in India.
● To establish an effective supply chain to maintain profitability and long
term sustainability.
● To achieve rapid growth in the Indian market with the target sales of
27.84cr in the first year of operation.
● To complete research on 50 to 60% cost reduction of biodegradable
nanoparticles in the first two year.
● To build a team with the common vision and philosophy for further
research and operations.
● To focus on constant innovation.
● To establish ourselves as a trusted brand for environment-friendly
products.

Company Description
TGP Bio-plastics Pvt. Ltd. has started with the vision to create a sustainable
packaging solution by three founding members. Continuous research of
around one year has brought them their first success in creating cheapest
biodegradable plastics. Company has filed a patent for the same technology.
TGP Bio-plastics Pvt. Ltd is recognised as a start-up under DPIIT India. Head
office of the company is located at Satara, Maharashtra.

Company will sell biodegradable plastic granules which will be used to produce
biodegradable plastic bags and packaging films. This material is compostable,
anti-microbial, non-toxic and affordable than existing biodegradable plastic
granules. Our material can be processed in the existing manufacturing facility
available at plastic carry bag manufacturers. This feature will increase market
acceptability of this material especially after recent government ban over
single-use plastics.

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Intellectual Property
We have filed for a patent of the invented technology under patent
application number 201921041337.

Legal structure and ownership

Company is a private limited firm registered with RoC Pune. CIN No.
U25209PN2019PTTC185482.

Awards and recognitions

● Finalist for Grant of Rs. 76 Lacs under RGSTC fund from the
Government of Maharashtra.
● Winner of startup battle from India. Selected for finals in CA,
USA.
● Runner up in ASSOCHAM Govt. of India startup conclave.
● Company is winner for ‘​Indovator Awards 2019​’ and stands in
the top-5 awardees. Company has got a ​‘Sustainability
Leadership award’​ from ICTI, Kerala.

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Team
Founders

Karan Chavan
B. Tech. (Electrical)

One and half years experience in biopolymer processing and new biopolymer
development. Karan knows the processing inside out. He has the wisdom of
handling the machines along with knowledge of polymer chemistry. This makes him
stand apart from other engineers. His interest in sustainable technologies inspires
him to go beyond the area of expertise and learn new things. He also manages the
financial part of the startup.

Tejas Zagade
B. Tech. (Mechanical Engg.)

Tejas is looking after the biomaterials manufacturing process and material supplies
from last one year. He can deliver the results and mitigate manufacturing problems
easily due to his prior experience in many college and industrial experiences. He
started his first venture in his first year of engineering. With no scholarship missed
from school time, he’s also good at networking in the outside world.

Indrajeet Nikam
B. Tech. (Mechanical)

Indrajeet can connect the dots on a large canvas of knowledge. This makes the
team enable to see a big picture which can be missed by most of the others. He can
inspire and make teams execute. He looks after the future projects of the company
as well as their feasibility. His lateral thinking attitude helps us in constant
innovation.

Management and team

We are having well experienced advisors having a great technical and managerial
background from IIM-A and plastic manufacturing industries. Their wisdom and
experiences will add great value to our early-stage start-up.

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Financial Plan

Sales Projections
The company plans to sell 1360 MT of Biodegradable plastic in the first 18 months of
operation. Company will have a revenue of Rs. 27.84 Cr and for the planned production
capacity in the first 18 Month.

Month 1-3 Plant setup, certification stage and training period.

Month 4-6 Starting with the small monthly production capacity of 20 MT to build a
right f​ or detecting & eliminating
problems in mass production, if any.

Month 7-9 Production and sales of 40 MT monthly.

Month 10-12 Production and sales of 80 MT monthly.

Month 12-18 Production and sales of 160 MT monthly.

Doubling production capacity after every 3 month may seem ambitious but the
current Indian market situation is very much favourable for this growth. All of them
are bulk buyers of the biodegradable plastic granules. Most of them can easily shift
to our material without any changes in their existing production facility.

Following factors are taken into consideration before assuming projected sales.

● Available interested buyers and demands from India and the globe.
● Raw material availability.
● Availability of manufacturing capacity in India.

Effective operations, supply chain management and inventory management can

surely bring more profits.

Key assumptions:

● Prices of raw material in the spreadsheets are as per quotations of suppliers for
20 MT production capacity. (Here, seasonal price fluctuations are also
considered)

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 Funds and usages

Required Funds:- Rs. 1.5 Cr

To maintain a low risk of failure, we are planning our expansion in five steps.

Stage Time period Amount (Rs.)

Stage 1(Plant setup) Month 1-3 43,00,000

Stage 2 (10MT Month 4 25,43,686

Production)

Stage 3 (20MT Month 5 20,00,372

Production)

Stage 3 (40MT Month 6 31,49,627

production)

Stage 4 (80MT Month 10-12 30,21,160

production)

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 Annexure I: Photos
Photos of the products made from our material

​Carry Bag

Garbage Bag

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