$4.8m to help Victorian businesses design out waste

Sustainability Victoria has called on businesses, industry groups, research institutions and charities interested in supporting the circular 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 Victorian organisations looking to explore opportunities to design out waste and extend the useful life of products.

The funds have assisted 36 projects so far, with grants of over $7.1 million. These projects include 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.

Matt Genever, Sustainability Victoria interim CEO, said these grants are fostering business innovation, commercialisation and collaboration across supply chains to prevent waste, increase reuse and repair and generate new streams of revenue for businesses.

According to Genever, the funding will work towards innovation and commercialisation of circular solutions that will create jobs and improve Victoria’s economic and environmental outcomes.

Recipients of the funding will have access to Sustainability Victoria’s Circular Economy Business Innovation Centre (CEBIC), which offers the chance to engage with past grantees and attend networking events, as well as opportunities to collaborate and connect with CEBIC stakeholders and promote the project and organisation.

Genever said lessons learned from the funded projects will be shared with Victorian businesses to inspire market creation and build a thriving circular economy.

“We encourage business to explore the many opportunities and benefits the circular economy has to offer,” he said.

The funds are part of the Victorian Government’s $380 million Circular Economy plan, Recycling Victoria: a new economy. Targets of this plan include reducing total waste generation by 15% per capita by 2030.

For more information about how to apply for the grants, visit here.

Image credit: iStock.com/AzmanJaka