Mr. Nilesh Naik – Naik Environmental Research Institute Limited (NERIL)

Naik was in contemplation, refusing to give up his idea of starting a new venture, having worked in Indian army for several years and foot stepping inot his fathers business during struggling recession time. Nilesh came across an advertisement in the paper from MITCON, requesting for innovative ideas to be supported by MITCON Business incubator. He wanted to develop his new idea of micropropation of Safed Velchi and other medicinal plants. He decided to visit MITCON Biopharma for its support.

After series of discussion, he is convinced that, he has to promote a new venture, based on micropropagation and hardening of the plants. He chose medicinal plants as he found that there was a huge market potential for medicinal plants. Besides, he was also interested in the health sector. Ideally he would procure the mother culture from known sources at MITCON network and initial subculturing was started.

His employees were trained by MITCON in Plant Tissue Culture and its commercial operation. The base plan of the venture included collection of the explants. The roots were thoroughly washed and sterilized and grown in an appropriate medium with adequate amounts of auxin. These were then transferred into medium containing both auxin and cytokinins. From this medium they were transferred to a medium containing cytokinins and then into adequate amounts of cytokinins till appropriate shooting is achieved. Finally after 2 weeks they were transferred to sterile soil. Further the products were commercialized and his marketing team which was well established by now helped him achieve his business targets.
His analytical abilities that he had developed over the years of working in Indian army fighting all the odds helped him in the venture. His team propagated 3,00,000 samplings of endangered medicinal plants.

NERIL has started production of Plant Tissue culture for Safed Welchi Banana in October 2008 and graduated from TBI in Sept. 2010. They have raised a mother culture lab for Banana Plant- lets and hardened more than 3 lakh plantlets. He raised Rs. 1500000 from sale of prehardened plants to sustain his operating cost. He has raised his own six green houses at Theur by that time, where the Plant Tissue Culture lab will be build after getting loan from Punjab National Bank (PNB). Total Project cost would be Approx. Rs. 35 Crore. Technology Economic Viability (TEV) for the same is prepared by MITCON Consultancy and in principal sanction has been sought from PNB. The firm is registered with registrar of companies with corporate identity number U45203PN2007PTC129500.

What are you waiting for? Click the button below to add your name to this list of successful incubatee’s.

Book an appointment