{"id":2868,"date":"2021-05-12T16:58:20","date_gmt":"2021-05-12T16:58:20","guid":{"rendered":"https:\/\/entrepreneurship.asu.edu\/blog\/?p=2868"},"modified":"2022-05-31T16:17:23","modified_gmt":"2022-05-31T16:17:23","slug":"circular-economy-considerations-in-developing-your-venture","status":"publish","type":"post","link":"https:\/\/entrepreneurship.asu.edu\/blog\/2021\/05\/12\/circular-economy-considerations-in-developing-your-venture\/","title":{"rendered":"Circular Economy Considerations in Developing Your Venture"},"content":{"rendered":"\n

Have you ever repurposed a plastic bag from the grocery store as a liner for your trashcan? <\/p>\n\n\n\n

Yeah? That\u2019s great! <\/p>\n\n\n\n

That is just one step you can take to extend the life of a product. <\/p>\n\n\n\n

Now, what if companies did this on a mass scale? As a consumer, you would purchase an item and instead of tossing it into the trash after use, a company could take the item and convert it into an entirely new product thus extending that product\u2019s life cycle. This is the premise behind the circular economy. <\/p>\n\n\n\n

Circular economy \u201cdescribes innovative strategies that work in tandem to design out and eliminate waste throughout product life cycles by making use of existing biological matter, reusable or recycled materials, and shared resources. In contrast to a linear \u2018take-make-waste\u2019 economy, a circular economy results in financial savings and efficiency within organizations that in turn benefits the communities that they serve\u201d (Rob and Melani Walton Sustainability Solutions Service, Circular Economy 2019<\/a>). <\/p>\n\n\n\n

Now more than ever, it is important that founders include sustainable practices and think circularly while developing their ideas. <\/p>\n\n\n\n

By incorporating these principles, founders can create leaner efficient models that will help their business grow as well as contribute to protecting the environment.<\/p>\n\n\n\n

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Our Venture Development team recently hosted a panel with ventures that are working directly in the circular economy space:<\/p>\n\n\n\n