AIMING FOR THE ROOF
Shakriben, a domestic help, lives with her two children in a slum near Gandhi Ashram in Ahmedabad. In February 2015, she carried out a unique experiment and got a new roof made of plastic and agricultural waste. The roof was sturdy and, more important, prevented water leakage. The new structure cost her ` 36,000, a big amount for Shakriben, but she was able to afford it as the amount could be paid through monthly instalments of `1,800 for 24 months.
Meet the man behind this novel initiative of finding productive uses for waste. Hasit Ganatra, a 33-year-old engineer, founded ReMaterials, the company that makes and supplies these alternative roofing products. It took Ganatra two years (2013 and 2014) to get the design right for tiles made largely of plastic waste and agricultural waste. His goal was to come up with a solution that was better than the metal and cement roof options available in the market. Ganatra asserts that his roofs are strong (a whole family can sleep on it or use it for storage), built to last and relatively cooler. They are more expensive ( about 2- 2.5 times) than metal or cement sheets but are half the price of concrete roofs. To make it affordable for his target audience in slums and villages, Ganatra roped in three microfinance entities – Mahila Housing Sewa Trust, the housing arm of Sewa, Saath Microfinance and Fullerton India GramShakti.
After the successful experiment at Shakriben’s home, Ganatra raised money and set up a factory to manufacture the roofs. The factory was up and running in March 2016. Subsequently, the company was able to go commercial on a larger scale. He got backing from investors who could see value in what he was doing. The family of late C. K. Prahalad, the celebrated global business thinker, is among those supporting the initiative. “My mother and I invested because we both felt that this project embodied the type of entrepreneurial impact that my father was so passionate about,” says California-based Deepa Prahalad, daughter of C. K. Prahalad. Her ‘token’ investment has not been made for financial gains, but she believes it will act as a catalyst and will help the company take off. ReMaterials has another investor who does not like to be identified.
Ganatra is now planning to tap the markets in South America, Africa and parts of Asia. Clearly, he is aiming high. ~