Circular Economy Business Support Fund opens 3rd round

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The third round of the Victorian government’s Circular Economy Business Support Fund is now open, supporting lone organisations and collaborative partnerships with initiatives that enhance Victorian industry’s capability and capacity to identify, implement, commercialise, and scale circular solutions.

The grant, funded through the government’s Circular Economy policy, aims to keep goods or materials in use for longer periods of time while preventing, reducing, or eliminating waste and pollution, the Circular Economy Business Innovation Centre announced

Each project can receive a grant between $50,000 and $1 million and co-contributions can be either financial or in-kind. 

The government said projects must support Victoria’s transition to a circular economy by enhancing the environmental consequences of goods, services, industries, supply chains, or systems.

In particular, projects must contribute to two or more of the following outcomes, such as the avoidance of waste materials to any waste or recycling destination and the creation of new circular products and services.

Increase employment through direct creation of jobs and increased capacity to extend the useable life of products are also included as fund outcomes. 

Moreover, the initiatives must result in reduced greenhouse gas emissions and improvement of the capacity of industry for acting on sustainability.

The government reminded that all projects must meet all regulatory or planning requirements within six months of receiving funding and ensure at least 50 per cent of project activities are implemented in Victoria.

Projects must also be completed by 15 December 2024.

Applications will close on Wednesday, 12 April 2023.

For more information on the funding, visit this site.