Sustainability Victoria is calling on those in the building and construction industries interested in supporting the reuse and repair economy to apply for $4.8 million in funding through the Victorian Government’s Circular Economy Business Support Fund and the Circular Economy Innovation Fund.
The funding is available to those Victorian organisations looking to explore opportunities to design out waste and extend the useful life of products.
These funds have so far fostered 36 projects with grants of more than $7.1 million, including a zero-waste hub for olive growers; a circular economy action plan for Australia’s clothing; a sustainable business model for retired electric vehicle batteries and the transformation of surplus vegetables into healthy snacks.
Sustainability Victoria’s interim CEO Matt Genever said the grants were fostering business innovation, commercialisation and collaboration across supply chains to prevent waste, increase reuse and repair, and generate new streams of revenue for businesses.
Genever said: “This funding will stimulate innovation and commercialisation of circular solutions that create new jobs and improve environmental and economic outcomes for Victoria.”
Successful funding recipients can benefit from Sustainability Victoria’s Circular Economy Business Innovation Centre (CEBIC), which offers the chance to engage with past grantees; attendance at networking events; opportunities to collaborate and connect with other CEBIC stakeholders; and promotion of the project and organisation.
Genever said lessons learned from funded projects were shared with Victorian businesses to inspire more market creation and accelerate the state towards a sustainable, thriving circular economy.
He added: “We encourage business to explore the many opportunities and benefits the circular economy has to offer.”
The Circular Economy Innovation Fund and Circular Economy Business Support Fund are part of the Victorian Government’s $380 million Circular Economy plan, Recycling Victoria: a new economy, whose targets include reducing total waste generation by 15% per capita by 2030.
For more information on these funding opportunities for business and industry click here.
Submissions close Wednesday 12 April 2023.
