Circular Valley Launches New Round of Funding to Create European ‘Silicon Valley of the Circular Economy’ – Latest Cohort Starts April 2023
In Germany, the Circular Valley initiative has recently launched a new round of funding with the goal of creating a ‘Silicon Valley of the circular economy’ in Europe. The Circular Valley Foundation established this initiative in 2021 with the aim of closing material loops along existing value chains, creating policy recommendations, and educating the public about the circular economy.
Among its current members are major companies such as BASF, Bayer, Evonik, Knipe, and Vorwerk as well as renowned scientific institutions like the Fraunhofer Umsicht Institute, Max Planck Society, and Wuppertal Institute. Over 100 start-ups from around the world have been supported by Circular Valley.
The latest cohort of start-ups comprises 15 teams from countries like Egypt, Chile, India, and across Europe who will spend three months in the Rhine-Ruhr region refining their business models starting in April. As part of the programme, these start-up leaders receive guidance from coaches and mentors, visit various companies and connect with local industry professionals. The funding programme will culminate in a demonstration day on 28 May where these start-ups will showcase their ideas to an audience.
The current focus of this funding programme is on coordinating value chains while exploring new techniques for chemical recycling and utilizing alternative raw materials and bioeconomy. Among the newest start-ups in these areas are companies like Agrona, Circulix, VGC.AI CarbonCraft Circular Structures Flower Matter Radical Dot Sustanix Materialtech and others who have an opportunity to advance their innovative solutions towards building a sustainable circular economy in Europe through this initiative.
