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6th October 2023

Partner Insight: Circular Economy Innovation Network

Chamber Partners Cardiff Metropolitan University (in partnership with Swansea University and third sector and industry partners), are running a fully funded programme to support businesses to develop their circular economy understanding and innovation plans, to support clean growth and contribute to Welsh Government’s Net Zero ambitions.

Starting in October 2023, this fully-funded project is designed to help businesses and the third-sector, open up new opportunities by implementing Circular Economy Principles.

Introducing circular economy principles into your business offers a range of reasons that can positively impact your bottom line, brand reputation, and long-term sustainability.

Here’s why you should consider adopting circular economy principles:

Cost Savings:
Optimise your resource use, extend the life of products and materials through strategies like repair, refurbishment, and remanufacturing, reducing the need for raw materials, leading to lower production costs.

Competitive Advantage:
Differentiate your business from competitors by demonstrating environmental responsibility and sustainability, enhancing your brand image.

Growth Opportunities:
Encourage innovative product design and alternative business models, which can lead to new revenue streams and business growth.

Regulatory Compliance:
Be better positioned to comply with evolving laws and regulations related to waste management, resource consumption, and emissions reduction.

Supply Chain Resilience:
Strengthen your supply chain resilience by being more innovative and resource-efficient in the face of resource scarcity, geopolitical instability, and increasing climate-related natural disasters.

Transitioning to a circular economy requires a shift in mindset and business strategies with increased circular economy knowledge and innovation skills. However, the long-term benefits in terms of sustainability, cost savings, and business growth can be substantial, making it a worthwhile endeavour for forward-thinking businesses.

The 6-month programme will include:

  • Monthly workshops to develop innovation skills and build strong networks to support clean growth plan development.
  • R&D support from WRAP CymruCwmpas and University staff.
  • 1 to 1 mentoring support.

You will:

  • Join people from a variety of organisations and participate in a programme of interactive, social learning-based workshops.
  • Learn innovation methods and tools that can enhance productivity, increase customer satisfaction and help to implement Circular Economy principles.
  • Develop clean growth plans ready to be implemented, which may be eligible for Welsh Government innovation funding.
  • Enhance tender capabilities for public service contracts in Wales.

Find out more by attending a short insight event: https://bit.ly/3RohHus
Apply for the fully-funded programme here: https://bit.ly/44KnOOa

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