Everyone, SMEs, large companies, public actors, but also start-ups, agree on a common objective: to accelerate the transition to a circular economy, collectively, and by relying in particular on innovation. But among the many ideas that are emerging, how do you develop the most promising ones? Paul Jeannest, Co-founder & CEO, RaiseLab, Alexis Dusanter, Co-founder & CEO of Bocoloco and Anne-Sophie Michel, Citeo Innovation Manager, share their experiences and advice in this live broadcast on May 31, 2023.
Innovation at the service of the circular economy: an imperative challenge
In a global context marked by increasingly pressing environmental challenges, innovation is emerging as the essential lever for accelerating the transition to a circular economy. This economic model, which aims to reduce waste by promoting the reuse, repair and recycling of products, requires innovative solutions to be implemented on a large scale. Businesses, large or small, must therefore turn to disruptive technologies and innovative economic models to meet these challenges.
The example of Citeo and its Circular Challenge accelerator program are a perfect example of this need. Since 2016, Citeo has supported startups through a rigorous process of selecting and maturing projects. This support is translated into technical, scientific and commercial support, allowing startups to develop viable and economically profitable solutions. Citeo not only finances projects, but also acts as a facilitator by connecting startups with large groups, local authorities and other actors in the value chain.
The key factors for innovation in the circular economy
The success of an innovation in the field of the circular economy is based on several key factors. First, the relevance of the founding team is crucial. A complementary team, with a variety of skills, is better able to overcome technical and commercial challenges. Second, the business model needs to be solid and adaptable. Projects must demonstrate their ability to generate a return on investment, even if this takes longer than for traditional innovations.
Impact measurement
Another success factor is measuring the impact. Businesses must be able to prove the effectiveness of their solutions in terms of reducing waste, saving resources and maintaining biodiversity. This impact measurement is essential not only to obtain financing, but also to gain credibility with business partners and consumers.
The case of Bocoloco, a startup supported by Citeo, shows how an innovative idea can evolve to meet market needs. Initially focused on an e-commerce platform, Bocolono has pivoted to a solution for the reuse of containers for supermarkets, thus demonstrating its ability to adapt and meet a growing demand for sustainable solutions. This journey illustrates the importance of staying flexible and open to opportunities.
Support for startups
Finally, the support of startups by specialized structures is essential. Whether through incubators, accelerators or networks of entrepreneurs, external support helps startups structure their project, find funding and access markets. The expertise provided by these structures makes it possible to reduce risks and accelerate the development of innovations.
In conclusion, innovation is not only essential to accelerate the circular economy, but it is also the engine that will transform current business models. Businesses must resolutely commit to this path, by surrounding themselves with the right skills and by relying on solid partnerships. It is at this price that we will be able to meet the major environmental challenges of our time and build a truly sustainable economy.
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