The world’s biggest plastic manufacturers are turning to innovative start-ups to help tackle the global crisis of plastic waste in the environment.
The Alliance to End Plastic Waste – whose members include BASF, Clariant, Dow, Shell and Total – announced that it has entered into a partnership with Plug and Play to create an accelerator program to identify start-ups with innovative products and services that can help lower the impact of plastic waste in the environment.
Plug and Play is a global innovation platform that specializes in creating industry-specific accelerator programs. As part of the partnership with the Alliance to End Plastic Waste, Plug and Play will run two programs a year in three hub locations – Silicon Valley, Paris and Singapore – to identify plastic waste solutions.
The Alliance to End Plastic Waste will select focus areas for each batch, and Plug and Play will then source specific start-ups working on solutions in those areas. The programs will accept 10 start-ups each and run for 12 weeks. Each program will end with an event where Plug and Play and members of the Alliance to End Plastic Waste will have the opportunity to invest in the start-ups.
Plug and Play founder and CEO Saeed Amidi said that his company will invest in 20 of these start-ups each year. “By devoting resources and attention to this global issue of plastic waste, we can make a difference in the environment,” he said.
“Innovation is at the core of the Alliance,” said Jacob Duer, president and CEO of the Alliance to End Plastic Waste. “This partnership has a unique approach to identifying and supporting start-ups and innovations across the globe to fundamentally transform current waste management practices through new recycling technologies and by creating value for recycled plastics.”
Applications are now open for the first program, which will run from February to May 2020.
Image credit: Reciclado Creativo via Flickr