Sustainability Victoria is calling on construction businesses interested in exploring opportunities to design out waste and extend the useful life of products to apply for a share of $4.8 million in state government funding.
The funding is a great opportunity for construction businesses to support the reuse and repair economy, with grant applications now open through the Victorian Government’s Circular Economy Business Support Fund and the Circular Economy Innovation Fund.
Matt Genever, Sustainability Victoria’s interim Chief Executive Officer said these grants are fostering business innovation, commercialisation and collaboration across supply chains to prevent waste, increase reuse and repair and generate new streams of revenue for businesses.
“This funding will stimulate innovation and commercialisation of circular solutions that create new jobs and improve environmental and economic outcomes for Victoria,” he said.
So far, these funds have fostered 36 projects with grants of more than $7.1 million.
Successful funding recipients can benefit from Sustainability Victoria’s Circular Economy Business Innovation Centre (CEBIC) which offers the chance to engage with past grantees, attendance at networking events, opportunities to collaborate and connect with other CEBIC stakeholders and promotion of the project and organisation.
Mr Genever said lessons learned from funded projects are shared with Victorian businesses to inspire more market creation and accelerate the state towards a sustainable, thriving circular economy.
“We encourage businesses to explore the many opportunities and benefits the circular economy has to offer,” Mr Genever added.
The Circular Economy Innovation Fund and Circular Economy Business Support Fund are part of the Victorian Government’s $380 million Circular Economy plan, Recycling Victoria: a new economy, whose targets include reducing total waste generation by 15 per cent per capita by 2030.
Grant submissions close Wednesday 12 April 2023.