LOOP Ventures accelerator for the circular economy
In the future, circular economy business will be a competitive factor for smart companies. With LOOP, we boost the international circular economy market by bringing together growth companies that develop circular economy solutions and major corporations that are looking for these solutions.
WHAT IS IT ABOUT?
Circular economy business is smart because companies’ circular economy solutions are often both financially and environmentally sensible. The international circular economy market will offer a lot of opportunities in the future. According to cautious estimates, the circular economy in Finland alone will generate an annual added value of two to three billion euros by 2030. Circular economy revenue models are a significant growth opportunity for existing and new companies.
The goal of the LOOP Ventures circular economy accelerator is to speed up Finnish companies on their path to the circular economy, create international demand for circular economy solutions and turn Nordic companies into circular economy pioneers. LOOP builds a future in which companies’ business operations are based on services and products produced within the limits of the earth’s carrying capacity.
What are we doing?
With the accelerator, growth companies that offer circular economy solutions and major corporations that are seeking these solutions develop business operations together. LOOP offers all the tools, partners and know-how that are needed to develop new business. The accelerator period is usually approximately three to six months.
Companies and other partners can join LOOP at any time. However, the circular economy accelerator focuses on different circular economy themes one at a time. The first theme is circular economy solutions related to plastic and food. Depending on the company’s business, business models that are developed through LOOP co-operation may be associated with, for instance, selling the product as a service, extending the product life cycle, going plastic-free or reducing waste.
Who is involved?
In addition to Sitra, the builders of LOOP include Avanto Ventures, responsible for accelerating the business operations of companies participating in LOOP and for developing circular economy solutions for the market. Nordic Innovation is responsible for the internationalisation of the project and the deepening of Nordic co-operation.
Where have we got to so far?
The project was launched in spring 2018. The project and its participants were first announced at the World Circular Economy Forum in Yokohama on 23 October 2018. The first business launches of growth companies and major corporations will be presented at Slush on 5 December 2018. LOOP’s results and a more comprehensive overview will be released at the World Circular Economy Forum in Helsinki on 3-5 June 2019.
How can I get involved?
LOOP is looking for major corporations and growth companies that have the circular economy at heart and are contemplating challenges or offer solutions in the field of the circular economy. We also encourage other partners to join us. Universities, foundations, cities and hubs, for instance, may participate in LOOP by offering know-how or serving as a testing platform for new business. Read more about LOOP and join us here.