Challenge
In the early stages of developing business ideas centered around the circular economy, entrepreneurs often face significant challenges. They must navigate complexities related to circular business models, environmental impact assessments, and incorporating nature-based solutions while ensuring their ideas are both marketable and scalable.
Solution
To address this challenge, MiXi partnered with the University of Helsinki to create "The Circulator" pre-incubator program. This collaboration leverages MiXi's expertise in circular economy practices and the University's resources to provide aspiring entrepreneurs with the necessary tools, knowledge, and network to develop sustainable business ideas aligned with real-life industry needs.
Outcome
The outcome of The Circulator program was the creation of a dynamic 8-week incubation journey. Participants, representing diverse backgrounds and expertise, were brought together to develop their business ideas. The program offered participants the opportunity to delve deep into understanding the principles of the circular economy. They explored innovative ways to design products, processes, and business models that minimize waste, maximize resource efficiency, and promote sustainability, while also considering the product market fit.
> Drawing from the learnings of the first cohort, in the second cohort to enhance the participants' experience and outcomes we invited different experts to provide specific challenges that entrepreneurs could address. For example, Fortum, a leading energy company, presented the challenge of repurposing wind turbine blades at the end of their lifecycle.
Executives and researchers from various organizations, including Fortum, Green Code Ventures, 3Step IT, and others, were involved in the program, providing practical advice and mentorship to the participants. They shared insights into industry trends, and market demands,, helping entrepreneurs tailor their ideas to real-life industry needs while ensuring scalability.
The Circulator program not only empowered entrepreneurs to create viable circular economy businesses but also facilitated valuable connections between different actors in the ecosystem.