Development and investment aid for the circular economy can boost sustainable growth
The Government encourages companies to renew themselves and to test circular economy business models by providing development and investment aid.
The transfer to a circular economy business model requires major investment from companies. Compared to the present situation, a shift from value chains to value cycles also requires more broad-based co-operation between companies and across sectors.
The government has granted two million euros for circular economy investments for 2019. The investment subsidies are intended to strengthen circular economy co-operation projects between companies, the renewal of companies and sustainable growth as part of the new innovation aid package.
The investment subsidies for the circular economy and admitted by the Ministry for Economic Affairs and Employment encourage enterprises and operators to plan investments that promote a circular economy or launch actual operations with the investments provided. It is also hoped that they would urge companies to seek co-operation partners from various sectors and different operating environments to make the circular material flows and customer needs meet.
A particular objective of the aid is to promote collaboration between different sectors and bodies and the tackling of topical challenges, such as the efficient use of plastics and other materials in line with the circular economy.