CIRCULAR IQ: Enabling Circular Procurement for the Public and Private Sectors
A circular economy demands transparency throughout complex supply chains to assess the circularity of a product. This information, however, is currently either of varying quality or difficult to find.
Circular IQ, a Dutch EIT Climate-KIC start-up, have developed a cloud-based platform which standardises product and supply chain data, enabling buyers to compare supplier circularity credentials.
Innovative circular business models are, by definition, unproven at scale, and this can make it difficult to attract investment. Identifying suitable financial vehicles and investors who understand this new economic model is vital.
This Circular IQ case study illustrates why digital innovation alone is not necessarily sufficient to transform existing production systems; it requires support from other system elements (e.g. circular procurement policies which create new markets for circular products).