Periodic Reporting for period 1 - InvestCEC (Supporting the transition towards circular economy in European cities and regions: Development of a replicable model for local circular economy projects)
Okres sprawozdawczy: 2022-11-01 do 2024-04-30
The circular economy is one of the core principles of the EU’s Green Deal. But a significant hurdle in getting circular economy projects off the ground is funding, as these projects are often classified as high-risk.
InvestCEC will develop a replicable model for the initiation of circular economy projects in cities and regions, that will improve collaboration between entrepreneurs, investors and policy makers.
The model consists of 4 building blocks:
1. Needs definition - The city/region defines the objectives of the circular economy project
2. Selection process - Selection of entrepreneurs that can deliver the desired circular economy solution
3. Investment readiness - Supporting entrepreneurs in the process of making their solution investment ready
4. Investment model - Setting up an investment fund supported by private and public investors
The effectiveness of the model will be tested in Klagenfurt am Wörthersee. The largest city in southern Austria, Klagenfurt is constantly seeking new ways to make the city more sustainable. It is represented in the project by Stadtwerke Klagenfurt, the municipal service provider, joined by Vienna-based Venionaire Capital, who will manage the development and implementation of the financing and investment programme.
The InvestCEC project will run from November 2022 to October 2025. The consortium consists of seven partners, coordinated by Enspire Science Ltd.
InvestCEC will develop a replicable model for the initiation of circular economy projects in cities and regions, that will improve collaboration between entrepreneurs, investors and policy makers.
The model consists of 4 building blocks:
1. Needs definition - The city/region defines the objectives of the circular economy project
2. Selection process - Selection of entrepreneurs that can deliver the desired circular economy solution
3. Investment readiness - Supporting entrepreneurs in the process of making their solution investment ready
4. Investment model - Setting up an investment fund supported by private and public investors
The effectiveness of the model will be tested in Klagenfurt am Wörthersee. The largest city in southern Austria, Klagenfurt is constantly seeking new ways to make the city more sustainable. It is represented in the project by Stadtwerke Klagenfurt, the municipal service provider, joined by Vienna-based Venionaire Capital, who will manage the development and implementation of the financing and investment programme.
The InvestCEC project will run from November 2022 to October 2025. The consortium consists of seven partners, coordinated by Enspire Science Ltd.
The project's main activities are developing the model, demonstrating it in the city of Klagenfurt, making it ready for replication and setting up the 20-million Euro fund that will facilitate the foreseen investments in entrepreneurships that meet the model targets. The model development elaborates the working procedures and decision making process in all 4 building blocks mentioned in the summary. This includes thorough examination of needs, followed by the selection process. This also includes training and coaching of relevant projects / companies / entrepreneurs to make them investment ready, which ultimately will lead them to successful investment.