The EU-funded SoTecIn (Social and Technological Innovation) Factory project announced the first of two open calls for 25 European social entrepreneurs with tech-driven solutions for a greener circular industry who will be awarded a total of €3.3M in funding.
The project is looking to support "mission-driven social innovation" using "higher R circular strategies (ie. Refuse, Rethink, Reduce, Reuse, Repair, Refurbish and Remanufacture techniques)." It aims to bring environmentally friendly innovations to the circular economies of Europe.
Circular supply chains extend the lifetime of materials by reusing them as much as possible, thus lessening the production of waste. This circularity can be found in industries such as plastic, packaging, and textile industries.
Though already greener than more traditional linear supply chains, the SoTecIn Factory product seeks further entrepreneurship in circular economies to continue reducing the carbon footprint of these industries.
Funding and mentorship
The first round of the project will award 25 innovators with up to €15,000 each. Of this first selection, 15 will be given an additional up to €85,000 as well as the opportunity to engage in a "pre-market technology demonstration."
The beneficiaries of this project will also be supported with "capacity building and business support through multiple resources." In other words, the chosen innovators can expect further mentorship and training.
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The project is funded by the European Commission's Horizon Europe Programme and led by a consortium including the Institute for Systems and Computer Engineering, Technology and Science (INESC TEC); F6S Network (Ireland); bwcon (Germany); Impact Hub (Austria); Metabolic (the Netherlands); and CNR (Italy).
Applications are open until 28 September.
