The circular economy is one of the core principles of the EU’s Green Deal. But a significant hurdle in getting circular economy projects off the ground is funding, as these projects are often classified as high-risk.
InvestCEC will develop a replicable model for the initiation of circular economy projects in cities and regions, that will improve collaboration between entrepreneurs, investors and policy makers.
Setting up an investment fund supported by private and public investors
Supporting entrepreneurs in the process of making their solution investment ready
The city/region defines the objectives of the circular economy project
Selection of entrepreneurs that can deliver the desired circular economy solution
The effectiveness of the model will be tested in Klagenfurt am Wörthersee. The largest city in southern Austria, Klagenfurt is constantly seeking new ways to make the city more sustainable. It is represented in the project by Stadtwerke Klagenfurt, the municipal service provider, joined by Vienna-based Venionaire Capital, who will manage the development and implementation of the financing and investment programme.
InvestCEC is one of a group of projects under the umbrella of the Circular Cities and Regions Initiative (CCRI). Launched and funded by the EU as part of the Circular Economy Action Plan, the CCRI focuses on implementing the circular economy across Europe’s cities and regions. Combining knowledge sharing, technical and financial support, the initiative assists stakeholders across Europe’s cities and regions, including regional and local authorities, industry representatives, research and technology organisations and civil society.