THE CIRCULAR INNOVATION FUND AND CYCLE MOMENTUM ANNOUNCE THE FIRST COHORT OF THE ACCELERATION PROGRAM 2023 GLOBAL EDITION DEDICATED TO THE BEYOND PLASTIC AND UPCYCLING SECTORS
With this program, we aim to nurture selected pre-seed and seed-stage companies within the circular economy to bolster investment in an underserved sector, de-risk future CIF investments, and support the build-out of a broader collaborative ecosystem of circular companies at all stages of commercialization.
A PROGRAM TO ADDRESS A CHALLENGING ENVIRONMENTAL ISSUE
Today’s economy is hugely wasteful. Resulting from a system based on the linear take-make-waste model, resource extraction and processing accounts for more than 90% of biodiversity and freshwater loss, while 45% of global GHG emissions stem from how things are made and used, how we grow our food, and how we manage our land and resources. The circular economy proposes a new framework defined by eliminating waste, circulating materials and resources, and regenerating nature.
The Acceleration program can help us take a step in the right direction as for Maya Hassa, Associate at the Circular Innovation Fund, “Innovation is the key to achieve a circular economy that can provide long-term sustainable solutions to the challenges of resource scarcity and environmental degradation.”
The facts are there. The linear take-make-waste model is no longer working for businesses, people, or the environment—the economics spell it out. On the flip side, the circular economy represents a USD$25 trillion market opportunity by 2050, unlocking USD 700 million in annual material cost savings in the consumer goods industry, among other benefits such as a higher disposable income for households and significant increases to national GDP. Most importantly, transitioning to a circular system can reduce our carbon emissions by up to 48% by 2030.
SPECIFIC OBJECTIVES TO FIND EFFICIENT SOLUTIONS
Three targets are locked in, waste reduction, sustainable and circular use of natural resources and measurable but also auditable impact. How will this program allow us to reach them? According to Marius Thebault Associate at the Circular Innovation Fund, “This acceleration program will provide us with access to a wider pool of innovative ideas and offer invaluable support and mentorship for our portfolio companies, thus allowing us to stay ahead of the curve when identifying and investing in the most promising circular economy projects.”
Two main sectors are aimed at. Beyond Plastic, with new materials for barrier applications replacing plastic and Upcycling, with supply chain waste valorisation. More specifically, for Beyond Plastic we are looking for fiber, PCR, biobased solutions for advanced packaging and other barrier applications. For Upcycling we are seeking coproduct, waste or CO2 valorisation through innovative upcycling technologies.
AN OPPORTUNITY WITH VARIOUS BENEFITS FOR PROMISING STARTUPS
For Patrick Gagné, CEO of Cycle Momentum, the members of the cohort will be the winners from this project since “The goal of our Accelerator programs is to support companies that provide solutions to climate change by helping them maximize their venture capital funding potential. I look forward to meeting the entrepreneurs in Circular Innovation Fund’s 2023 Accelerator Program cohort and working with them to achieve their goals and enable them to make a significant impact in the areas of supercycling and alternatives to plastics.”
The Circular Innovation Fund’s 2023 Accelerator Program advantages are clearly identified:
- Visibility and privileged access to our strategic network of over 120 institutional and corporate investors.
- Investments of €100K and opportunity to develop strategic partnerships with key market leaders.
- Potential to expand your customer base and become a strategic supplier to major market leaders like L’Oréal, Masonite, Axens, and more.
- Access to infrastructure and various experts in research and development, manufacturing, and engineering, to support the development of your technology and growth of your business.
- Visibility of your company through our robust communication campaign on social networks.
- Opportunity to present your company and technology in front of senior executives and of renowned experts, entrepreneurs, and investors.
Apply now until May 15 via this form :
For more information, consult this document:
https://drive.google.com/file/d/1JWDCPKLRXy1ycgKzm_57VqDQ6eQUbX3C/view?usp=sharing
