What is the Business Support Fund Stream 1: Develop a Circular Economy Base?
The Business Support Fund Stream 1: Develop a Circular Economy Base is a program to support businesses that undertake development of circular economy business models or practices that avoid waste generation in Victoria.
Circular economy Business models and practices are those that design out waste and pollution, extend the use of products and materials, and regenerate natural systems. They transform how we make and use products.
Round 2 of the Business Support Fund supports circular Business models and practices that avoid waste in Victoria. The Circular economy Business models supported by the Fund include:
- Product Life Extension models that extend the useful life of products and materials, including:
- Maintenance and repair: prevent breakages or fix issues
- Refurbishment and Remanufacturing: restoration of degraded products to ‘as new’
- Re-use: products or materials are Re-used as is, without further processing
- Prepare for Re-use: collect, check, clean, or repair waste products or components to be Re-used without further processing
- Resale: used or second-hand products are resold to avoid waste
- Incentivised return: incentivising for the return of used products for Re-use
- Redistribute: collect and Redistribute surplus products, often to improve social equality
- Upgrade: improve products instead of replacing them.
- Sharing models that enable increased use of products by making possible shared use, access or ownership
- Product as a Service models that replace product ownership with services, often via a subscription service
- Resource Recovery models which are limited (in this fund) to those focused on upcycling pre-consumer food or Textile waste.
The Circular economy Business practices supported by the Fund include:
- Materials Efficiency: improved processes to reduce waste in the production of products and services
- Circular design and marketing: design and marketing to improve Resource Efficiency and extend the life and value of products and materials during their Use phase, including certification schemes
- Product stewardship: taking responsibility for the product during the Use phase
- Waste avoidance: practices that avoid waste of products and materials in the supply chain
- Circular economy enablers: supply or adoption of processes, technologies, training and advice.
The primary goal of the Business Support Fund Stream 1: Develop a Circular Economy Base is to avoid waste in Victoria, which includes improved Materials Efficiency and upcycling. All projects must support this objective.
Projects that also create new Direct Jobs in Victoria will be viewed favourably.
Each project can receive a grant between $50,000 and $200,000.
Projects eligible for funding include those that:
- avoid waste of products and materials
- extend the useful life of products
- increase shared use, access or ownership of products
- replace products with services
- produce products and services using less materials
- upcycle pre-consumer food or Textile waste.
Projects focused on Recycling, Recycled content products and Bioenergy are not eligible for this fund.
Applicants may apply as either as a single organisation, or as a collaborative project with multiple organisations.
All applications require a single lead applicant, who will be the responsible contracting party.
Lead applicants must be commercial/for profit businesses that:
- have a current Australian business number (ABN)
- have been operating for a minimum of 2 years by the application closing date
- meet or exceed the minimum co-contribution requirements
- lead any collaborative partnership according to requirements
- agree to comply with the funding terms and conditions.
Applications close 07 July 2022.