Q&A about LOOP

Q&A about LOOP

Why was LOOP created, who can join the ecosystem and what kind of challenges are solved within LOOP? This article tries to answer these questions, among others.

What is LOOP about?

LOOP is an ecosystem that brings together Nordic businesses looking to embrace the opportunities that the circular economy provides, while also creating significant business impact. With LOOP, we want businesses to find circular solutions and to build real ventures that can be taken to market. By using lean startup methods, in a short period of time (about 3-6 months) we validate business concepts that contribute to a transition into a circular economy.

Is LOOP an accelerator program?

No, LOOP is not an accelerator program. LOOP is an ecosystem where you are equipped with all the tools, know-how and networks needed to move forward on your circular economy venture. In LOOP, it’s not always about collaboration between growth companies and corporations. We also work on cases where two corporations have joined forces to tackle a specific challenge involving the circular economy. It’s worth highlighting that these ventures are built using lean startup methods with the final aim of bringing them to market as soon as possible.

There are so many ecosystems in the world, why do we need another one?

Because we want to go from words to actions. The circular economy has been on the agenda for some time now, yet there are few concrete results. We’ve now reached a point where something needs to be done. We need models for how ideas can be turned into concrete business solutions, ready to be taken to market in a short period of time. LOOP is here to facilitate that.

Who can join?

We are looking for corporations, growth companies and other ecosystem partners that want to be involved in projects that have a real and measurable positive impact on the world. The transition to a circular economy requires that all partners in different stages of the value chain get involved. To do this, we gather different partners, both big and small, around the same table. For corporations, the objective is often to scale new ventures while for growth companies LOOP presents promising co-operation opportunities and a chance to scale their own products or services. Other ecosystem partners (for example universities and institutions) might contribute by bringing know-how and resources for piloting the ventures or ideas for new projects.

As a corporation, do I need to be facing some sort of challenge to join?

No. You can join LOOP without a set challenge or venture in mind. As long as the Circular Economy and growth business is on your agenda, you can (and should!) be a partner in LOOP. Our database contains over 400 growth companies involved in the circular economy that are growing every day, which you will get access to as a corporate partner. If you don’t have a certain venture idea in mind, we can help you to screen the global market for possible ventures and partners.

As a growth company, why should I be in LOOP?

As a growth company, you benefit from visibility through our platform, which is available to all corporate partners on board LOOP. We continuously screen the market to find solutions for particular corporate challenges. Your solution might be just the one we need! To make sure your company gets onto our long list, leave your contact information here. We will get back to you as soon as possible.

What kind of business challenges are solved within LOOP?

The main themes for LOOP 2018-2019 are food, plastics, packaging and textiles. However, if your challenge or solution does not fall into any of those categories, don’t worry –  we are able to help you on a large scale and are always ready to investigate new concepts. As long as it has to do with business model innovation, it’s suitable for LOOP. The main themes for LOOP change regularly, and we are already researching future themes for the coming years. Currently we are working on ventures that aim to minimize food waste in grocery stores and in fine-dining restaurants, decreasing used plastics in retail and finding new circular solutions for the dairy industry.

When does LOOP end?

LOOP does not have an expiry date. Partners, both big and small, can join LOOP whenever they want.

How can I join?

Click here to start, we would love to hear from you! You can always drop us an email if you have a question or suggestion regarding LOOP.

Circular Solutions Start By Seeing Opportunities Where Others See Problems

Circular Solutions Start by Seeing Opportunties Where Others See Problems

Our economy has been working in an inherently linear way for the past several decades. However, the buy-use-discard-repeat consumption mentality is slowly changing amongst consumers. Likewise, an increasing number of executives are starting to see the benefits of the circular economy in their own industries:

“We are now building a circular economy – a new economic model in which, for example, consumption is based on using services – sharing, renting and recycling – instead of owning things”, says Mari Pantsar, Director of Carbon-Neutral Economy at Sitra.

It’s been estimated that switching to a circular economy model from the current linear style could bring net savings of €600bn to European companies, with market potential calculated to be over 3 billion euros annually in Finland alone. Every single corporation, company and startup should want a slice of it.

Collaboration is Key

Circular economy and its related knowledge contain enormous potential for economic growth. It opens new pathways for both vertical and horizontal cooperation. To make the switch to circular economy, the market needs new products and services.

While large corporations have the financial and technological capital to be the forerunners in circular solutions, they often encounter challenges in bringing new innovations to the market. This is where corporate venturing comes into play. Corporate-startup collaboration has been seen to have a positive impact on company performance and also the capability to work on open innovation projects. Corporations can build systems and structures to find, match and cultivate the right startups that quickly bring new solutions to the market. From the startup’s point of view, the upside comes as increased visibility and improved reputation, accelerated business development and access to new markets.

Switching to circular economy means finding completely different ways of production, consumption and destruction. That is why cooperation between different market players at different levels of the production and distribution process is crucial.

We need to start seeing opportunities where others see problems.