As part of its Startups Accelerator program, Google has decided to launch a subset of the program, “Circular Economy”.
Contained within the larger startup accelerator program, the ‘Circular Economy’ program focuses on startups and non-profit organizations (NPOs) in Pakistan, Asia-Pacific and North America to solve circularity challenges .
It is a 10-week virtual accelerator program for startups in the seed to series-A stage of their evolution and helps them work towards a waste-free world.
In a statement announcing the program, Google said that Asia-Pacific is a good starting point to innovate and create circular economy solutions.
“It is the world’s most vulnerable region to climate change’s impact.”
Only 10 rivers contribute 90% of all river-borne plastic in the ocean, eight of which are in APAC. By 2040, Asia is expected to account for 40% of global consumption, Google said.
“Humanity consumes far more than what the planet can naturally replenish.”
With the global demand for resources set to surpass an estimated 1.75 times than what the earth’s ecosystems can naturally regenerate in a year, the deficit will catchup somehow.
Moreover, many resources that are extracted and used eventually become waste — adding to more than 2 billion tons of solid waste created each year.
The program hopes to support startups that will help create a circular economy that is safer, sustainable, and more equitable for everyone, which will rebuild their relationship with physical resources and solve circularity challenges.
What will happen to selected startups
Through a mix of 1-to-1 and 1-to-many learning sessions, the accelerator will offer 10 weeks of virtual programing that includes technical assistance and mentoring from Google engineers and external experts.
Participants will also be assigned a dedicated “Success Manager” for greater support that is specific to their organization.
Applications for the program open on October 4 and will accept applications until November 14, 2022.
The program is expected to commence in February 2023.