Objective for this module: To develop your business model for the circular economy.

Exercise: You will define your business model based on various possible combinations of the innovation categories described below (to complete the exercise, go to the Miro Board and look for the framework for Module 2)

Six Business Innovations based on circular economy business models that can be used to achieve a differentiated USP (Unique Selling Proposition):

1. Exchange - relies on the use of innovative technologies and materials enabling a resource efficient industrial process
   
2. Share – maximisation of resources along the product lifecycle through, for instance, reuse, design for repair or upgrade
   
3. Optimise – involves improving products and processes efficiency
4. Loop – implicates closing production loops by returning production materials to a reuse phase
   
5. Regenerate – shift towards renewable materials and sources of energy
   
6. Virtualise – the possibility to deliver purely digital products

All businesses in the world, and in particular digital and/or tech businesses (B2C, B2B, P2P, or any other type), can and should always have a circular economy business model. See examples of business innovations using this framework to better understand how you can develop your business model for the circular economy.

See examples

Material to develop your critical thinking:

• Mentor interviews (Charles Nicholls)