Fife businesses with great ideas are being urged to express interest in an £18m fund launched by Scotland’s circular economy experts Zero Waste Scotland.
The fund, to help small and medium-sized enterprises explore ways to develop a circular economy, is being managed with Scottish Enterprise and was launched at a special session of the Scottish Council for Development and Industry (SCDI) forum in St Andrews recently.
A circular economy is based on finding high value uses for materials and keeping materials in productive use for as long as possible, instead of simply using and discarding them.
The Circular Economy Investment Fund is part of a wider £70m programme, supported through European Regional Development Funds, which aims to improve business productivity and create a circular economy in Scotland.
The Scottish Government is taking a lead internationally on this agenda, having recently launched an ambitious strategy.
Two Fife circular economy businesses also helped launch the fund - Glenrothes-based Brand-Rex, a company employing circular initiatives in cabling solutions and Burntisland-based CelluComp, which produces a multi-use nano-fibre from agri-waste. The fund aims to accelerate the development of business innovation, including support for developing new technologies and the infrastructure needed for a more circular economy.
Iain Gulland, chief executive, Zero Waste Scotland, said: “We’re genuinely excited to be launching this fund. Now is the time to turn big ideas into action.”
Zero Waste Scotland will work with Scottish Enterprise and Highlands and Islands Enterprise to help promote the fund and support businesses who could potentially benefit from it.
The funding will be spread over three years and be focused on key sectors such as the bio-economy the built environment and energy infrastructure. There will also be funding available for key activities such as reuse, remanufacturing, repair and reprocessing.
Interested organisations should go to www.zerowastescotland.org.uk for more information and to apply.