Biography of Shikha Shah: Founder and CEO of AltMat- Entrepreneur
Biography of Shikha Shah:
A Foundation in Recycling
Shikha Shah’s journey into the world of sustainable
materials began long before she founded her company, AltMat. Growing up in a
family involved in recycling, her father, Vishnu Shah, worked in transforming
automobile waste into metals. This environment sparked her curiosity about the
potential of recycling and the concept of turning waste into valuable
resources. Inspired by her upbringing, Shikha developed a passion for environmental
sustainability early on.
Academic Pursuits
Her academic path started at Nirma University, where she
earned a Bachelor of Business Administration. Shikha excelled in her studies,
achieving a remarkable CGPA of 9.44/10. During her time at university, she took
on leadership roles, including head of the media committee and founding member
of the co-curricular committee. She later pursued a Master in Management at
Babson College, where she focused on entrepreneurship and leadership, further
enhancing her understanding of business dynamics.
The Birth of AltMat
In December 2019, Shikha launched AltMat, a venture
dedicated to converting agricultural waste into sustainable materials for
textiles. Recognizing the growing environmental crisis, she sought to address
the dual issues of agricultural waste and pollution from the textile industry. By
buying agricultural residue from farmers, she aimed to not only reduce waste
burning but also create eco-friendly fibers for fabric production.
Innovative Processes
At AltMat, Shikha implemented innovative processes to
recycle agricultural waste into a fiber called “Altag.” This fiber, made from
materials like banana and hemp, is blended with other substances to create yarn
for textiles. The company works with value chain partners to produce the
fabric, and by-products from this process are utilized to manufacture
sustainable paper and packaging. This comprehensive approach minimizes waste
while maximizing resource use.
Sustainability Meets Feasibility
Shikha understands that sustainability needs to be
economically viable to achieve widespread acceptance. AltMat focuses on
creating sustainable textiles that not only meet environmental standards but
also align with the existing textile infrastructure. By ensuring that the
fibers produced are functional and affordable, she aims to make sustainable
fashion accessible at scale.
Meeting Market Demand
As climate change becomes an increasing concern, the demand
for sustainable materials is rising. AltMat produces enough fiber annually to
manufacture 40 lakh garments, addressing the urgent need for eco-friendly alternatives.
Currently, the company has the capacity to produce around 1,000 tonnes of fiber
each year, with a potential output valued at ₹30 crore. Shikha’s vision is to
significantly scale production in the coming years.
Collaborating with Global Brands
AltMat has established partnerships with numerous Fortune
500 companies in Europe and the USA, showcasing the global interest in
sustainable textiles. Over 30 global brands are currently testing AltMat's
products, which demonstrates the market's shift towards environmentally
friendly materials. The company’s innovative solutions are resonating with a
wide range of stakeholders in the fashion industry.
Personal Philosophy
Shikha’s approach to entrepreneurship is deeply rooted in
the belief that business and social impact can coexist. Influenced by her
experiences volunteering at NGOs and her education, she advocates for
"conscious capitalism," where profit and purpose go hand in hand. She
believes that addressing environmental challenges requires innovative business
solutions that can scale effectively.
The Journey from Lab to Industry
From its inception, AltMat has evolved from a laboratory
project to a pilot initiative and now operates on an industrial scale. Shikha's
leadership has been instrumental in this transformation, guiding the company
through various phases of growth. She envisions expanding AltMat’s production
capabilities significantly over the next few years, aiming to revolutionize the
way textiles are made from waste.
Patented Innovations
The processes developed at AltMat are not only innovative
but also patented, ensuring a unique position in the market. Shikha explains
that the company buys agricultural waste, primarily from crops grown for food
and medicinal purposes, and transforms it into fibers that mimic the qualities
of cotton. This breakthrough has made sustainable textiles not just a niche but
a viable option for mainstream fashion.
Biography of Shikha Shah: Founder and CEO of AltMat- Entrepreneur/age/net worth/investor/startup/agricultural waste into sustainable textiles
Environmental Impact
Shikha emphasizes the environmental implications of
traditional textile production, noting that the industry is heavily reliant on
polyester, which contributes to microplastic pollution. She highlights that
producing cotton requires excessive water and pesticide use, creating a dire
need for alternative materials. Through AltMat, she aims to mitigate these
issues by providing sustainable solutions that benefit both the planet and
consumers.
Future Aspirations
Looking ahead, Shikha plans to expand AltMat’s reach and
impact significantly. The company aims to increase its scale by 25 times within
five years, enhancing its production capacity and collaborations with leading
brands. Shikha's commitment to sustainability and innovation positions her as a
key player in the movement toward more responsible fashion practices.
Empowering Farmers
By sourcing agricultural waste directly from farmers, AltMat
not only reduces pollution but also supports local economies. This model helps
prevent farmers from burning waste, which releases harmful emissions into the
atmosphere. Shikha’s initiative contributes to a circular economy, where
agricultural residues are repurposed, creating new value for farmers and the
environment alike.
A Leader in Climate Action
Shikha’s efforts have not gone unnoticed; she is recognized
as a young leader in climate action under the India Climate Collaborative. This
initiative, supported by various organizations, aligns with her mission to
promote sustainable practices within the textile industry. As a participant in
the ‘Fashion for Good’ accelerator, she continues to push the boundaries of
innovation in sustainable materials.
Shikha Shah’s journey with AltMat exemplifies how
entrepreneurship can drive meaningful change. By transforming agricultural
waste into valuable textile fibers, she is not only addressing pressing environmental
issues but also paving the way for a more sustainable future in the fashion
industry.
A timeline of Shikha Shah’s journey with AltMat:
Early Life - Grew up in a recycling-focused family, sparking
interest in sustainability.
2012-2015 - Earned a Bachelor of Business Administration
from Nirma University, achieving a CGPA of 9.44/10.
2016-2018 - Completed a Master in Management at Babson
College, focusing on entrepreneurship and leadership.
2019 (December) - Launched AltMat, dedicated to converting
agricultural waste into sustainable textiles.
2020 - Developed “Altag” fiber from agricultural residues,
partnering with value chain stakeholders.
2021 - AltMat began producing enough fiber for 40 lakh
garments, emphasizing scalability.
2022 - Established partnerships with over 30 global brands,
demonstrating market interest in sustainable textiles.
2023 - Focused on expanding production capacity by 25 times
in the next five years.
2024 - Recognized as a young leader in climate action by the
India Climate Collaborative.
