Innov8ive! - A deep dive into innovating for a circular economy: Recent Episodes
Infinitive
Hosted by Pavithra Mohanraj (Founder, Infinitive) and supported by the EU Resource Efficiency Initiative for India (EU-REI), the episodes in this series will cover various aspects critical to accelerating and mainstreaming CE innovation including role of governments, finance, collaboration and innovation ecosystems. Innov8ive! will also showcase success stories of innovation from start-ups and established businesses.
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In this episode, we continue to showcase innovators for the circular economy. We feature the work of Lucro, a leading innovator in the flexible plastics recycling space in India. We speak to Ujwal Desai - Managing Director at Lucro, to understand more about their business model that is built on closed-loop recycling, the recent funding from Circulate Capital and the upcoming expansion plans.
We also delve into the changing outlook on plastic waste over the last decade, including a crucial shift in the supply-demand equation for recycled plastics, and how that has reflected on Lucro’s business. We finally delve into the challenges that a business such as Lucro’s faces, including competing with “me-too” products, and their solution for assuring authenticity of a recycled product.
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In this episode, we speak to Karl Vrancken, Research Manager – Sustainable Materials at VITO, to examine why collaboration is critical for building a circular economy and the changing roles of different stakeholders in this systemic transition. We also take a look at collaborative initiatives such as European Circular Economy Research Association (ECERA) and Circular Flanders, and how we can build a collaborative mindset that will underpin the shift to a Circular Economy.
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This episode examines the role that enabling ecosystems can play in spurring the adoption and scaling up of circular innovation. We explore the work of SITRA – the Finnish Innovation Fund, their unique structure and role in connecting players in the Circular Economy space, built on the foundations of the first ever National Roadmap for a Circular Economy. We speak to Tim Forslund, Circular Economy Specialist – SITRA, about several initiatives that support innovators to advance the circular economy transition, including a focus on public procurement. We also discuss how a culture of collaboration can be created amongst all stakeholders.
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This episode examines the critical lever of financing for circular innovation. We feature the work of Circulate Capital, an investment management firm dedicated to financing innovation, companies and infrastructure that prevent the flow of plastic waste into the world’s oceans, while advancing the circular economy. We speak to Rob Kaplan, Founder and CEO - Circulate Capital, about their recent investments of about $40 million in 6 Indian companies in the plastic waste management and recycling sector, and their differentiated fund structure that is able to provide catalytic capital and extensive support to scale innovative solutions in this space. We also delve into opportunities and the outlook for this sector in India, including the depth of the pipeline that is investable, finally taking a look at why investing in circular models is different from linear models and the challenges in moving large sums of capital towards this sector at its current stage of maturity.
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This episode examines the role that enabling ecosystems can play in spurring the adoption and scaling up of circular innovation. We speak to Priyanka Khanna, International Expansion Manager – Fashion for Good, about the critical role that the organization plays in bringing together promising innovators, and the brands and manufacturers who could adopt these innovations. We delve into how Fashion for Good’s model works, the kinds of support they provide to innovators, and also take a look at some of the exciting Indian innovators in the South Asia innovation program. We also explore some initiatives being piloted with industry players like Birla Cellulose and Arvind Mills, and examine challenges in the adoption curve of innovation in circular fashion.
Fashion For Good's report on 'The State of Circular Innovations in the Indian Fashion and Textile Industries' can be found here.
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In this episode, we look to understand circular innovation in large businesses from the perspective of the Mahindra Group in India. We speak to Anirban Ghosh, Chief Sustainability Officer – Mahindra Group, to explore how the company is approaching circular innovation and building a culture for encouraging innovation. We also discuss if there is a business case for circular innovation, some potential areas for upstream innovation and what the challenges to innovation might be in a company like theirs.
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This episode takes us into the world of product life extension through remanufacturing and the potential for innovation in this space. We speak to David Fitzsimons, Director – European Remanufacturing Council, about where remanufacturing is happening currently, and emerging technologies including digital technologies that are pushing remanufacturing possibilities into new arenas. We also hear from David on some exciting start-ups and SMEs in the EU that are leading the charge, innovative business models connecting actors across the value chain, and some interesting ways that knowledge from remanufacturing is being connected back to the design and manufacturing phase.
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This episode examines the critical lever of financing for circular innovation. We feature the pioneering work of Circularity Capital, a growth capital firm investing in European start-ups and SMEs in the circular economy space. We speak to Jamie Butterworth, Partner – Circularity Capital and earlier, CEO of the Ellen MacArthur Foundation, about the evolution of the financing landscape for circular innovation and some of the promising circular business models and companies that Circularity Capital is investing in. We also delve into how Circularity Capital makes its investments and supports its portfolio companies, as it aims to generate the evidence to demonstrate that circular businesses can be more competitive than linear counterparts.
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In this episode, we shift our focus to circular innovation in large businesses. We speak to Sara Eriksson, Business Development Lead for the Global Sustainability Department at H&M Group, on what being an innovator at a global scale means and H&M’s adoption of circular economy as one of the levers for achieving its climate goals. We also explore how H&M is experimenting and collaborating with other stakeholders to enable innovation in the circular fashion space, and the many pilots and initiatives being tested and trialled across the entire value chain, including product IDs for tracking and tracing, new in-store recycling technology and innovative business models. The conversation also leads to a fascinating take on building the business case for circular innovation, raising questions on whether current models account for the ‘true cost’ of doing business.
Looking for deeper engagement on Circular Innovation?
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In the first of our showcases on innovators for the Circular Economy, we feature the work of ECOR, an exciting innovator in circular materials and design for the interiors and furniture industry. We speak to Eric Logtens, Corporate Director - Circular Economy, about ECOR’s 'low-tech, highly disruptive' solution and its commercialisation. We also delve into the ‘blue ocean strategy’ that ECOR adopted to overcome typical barriers to market, and their different learning curves in different regions, as they are scaling up globally.
Looking for deeper engagement on Circular Innovation?
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In this episode, Seb Read (Ellen MacArthur Foundation) & Rachna Arora (EU-REI) give us an overview of circular innovation on the global stage & in India. Join the conversation at the CE Innovation Network on LinkedIn and FB!