EIT rewards companies that go hand in hand with the circular economy

The Circular Economy Community of Technological Innovation (EIT) will recognise the projects of those startups and SMEs that brings together the most innovative solutions in the circular economy.

In the face of increasing demand and competition for finite resources, the transition to more circular economies is positioned as the strategic path that will enable Europe to rise to current and future challenges. The unstoppable degradation and fragility of the environment requires profound changes in the value chain that keep resources within the economy, even if the product has reached the end of its useful life. To this end, the conversion of waste into resources, changes in consumer behaviour or new business models can be innovative alternatives to face this global threat.

To this end, the EIT Community Circular Economy Prize will award a prize of 15,000 euros to the companies that perform best in the four related categories:

Topic 1. New circular business models in two specific areas:

From products to services: This model is an alternative to the established “buy and own”approach and includes lending, renting, or pay-for-use agreements. It allows customer to purchase a service or desired result, rather than buying the product itself.

Sharing economy: The primary feature that defines a sharing economy is the mutual cooperation. It creates the opportunity for consumers to tap into the unused potential of products by reducing their idle time and increase access to goods and services

Topic 2. Circular economy assessment methodologies: new methodological approaches to monitor and/or quantify circular economy from a general perspective or in specific sectors as critical raw materials, building, food.

Topic 3. Waste valorization including logistics: new ideas and approaches for waste valorization in specific sectors as critical raw materials, building, food including digital solutions to improve logistics.

Topic 4. Digital Products Passports: new ides and developments in the field of Digital Products Passports as efficient tool to improve materials traceability to support the implementation of sustainable products.

Additionally, the winners may apply to business support and acceleration services by the participating EIT Knowledge and Innovation Communities – KICs (EIT Raw Materials, EIT Climate-KIC, EIT Food, EIT Urban Mobility and EIT Manufacturing)

The call will be open to any person or group of legal entities from an EU Member State or associated to Horizon Europe, and they will have until 31 August 2022 to apply. A ceremony will be held in November to announce the selected companies to which the award will be presented.

For more information refer to the Rules of the Prize

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