Raw Materials and Circular Societies Prize

The World Bank estimates the amount of municipal solid waste will increase from 1.3 to 2.2 billion tons per year by 2025, with most of this increase coming from cities in developing nations. According to the Ellen MacArthur Foundation, in the consumer goods sector alone about 80 percent of the USD 3.2 trillion value is irrecoverably lost annually. The linear take-make-waste industrial model is no longer viable in the face of rapid population growth, resource constraints, climate change, urbanisation, water insecurity and other trends. A more regenerative model offers a viable opportunity to successfully tackle environmental priorities through innovative business models stimulating competitiveness, and development. (Greenbiz)

New business models that foster repairing, reuse and sharing, are an essential part of the circular economy, specifically in European cities, where on the one hand most of the material- and energy throughput occurs and on the other, innovative solutions can be rolled out best due to the inherent characteristics of the urban form (i.e. large availability of materials, high population density and urban consumption patterns).

The main objective of the Raw Materials and Circular Society Prize will be to support the implementation of new ideas for these business models.

Raw Materials and Circular Societies Prize Award

The support scheme will be as follows:

• Financial award of EUR 10.000 lump sum for the winner in the theme Products and services designed to fit within a circular economy for the Automotive, Clean Energy and Electronics Sectors
• Financial award of EUR 10.000 lump sum for the winner in the theme New tools/methodologies to support circular design for products and services
• Financial award of EUR 10.000 lump sum for the winner in the theme Digital Products Passport to improve disassembly, material and component reuse, recycling and materials reporting, as well as innovative business models

Additionally, prize laureates will receive support to access EIT RawMaterials Entrepreneurship programmes.