During the three-year project period, the LOOP Ventures project partners have met with more than 200 Nordic companies, hosted 22 events with over 1200 participants and generated 37 circular business model pilot ideas together with Nordic companies. Three new product solutions that are now available at the market have been supported by the program and it has reached over 300.000 impressions on social media and over 3.500 engagements with posts.
“Circular business models cannot be built alone and therefore we are very delighted that in the LOOP Labs, concept professionals from diverse backgrounds around the Nordics and around specific themes identified various pain points and ideated new circular solutions”.
Hanna Törmänen, Innovation Advisor, Nordic Innovation
The core of the LOOP ecosystem has been to share learnings and connect people across Nordic borders to bring value and speed up the circular transition. The project partners have helped Nordic companies to transition into circularity by creating new business ideas and piloting them with lean methods. LOOP has also invited and recruited Nordic large and mid-sized companies as well as public organizations to take part in the activities and to use their key competences to solve identified circular challenges.
The purpose of the LOOP project was to create a Nordic concept for identifying, testing, and piloting circular business models with Nordic partners. The pilot project ran from 2018 -2019. In 2020, the project group expanded, and the concept was adjusted on the background of the learnings from the pilot period.
Background
LOOP Ventures for the Circular Economy is a part of the Nordic Sustainable Business Transformation program which ran from 2018-2021. Although the program has closed, Nordic Innovation continue working with circular economy and sustainable business transformation in the Circular Business Models program running from 2021 – 2024.
Project partners
Verona Growth
Moona Pohjola
Project owner (Finland)
Antrob Ab
Erik Hammarström
Project partner (Sweden)
Agens
Jan Ove Kjøndal
Project partner (Norway)
Startup Norway
Virginia Vegas
Project partner (Norway)
Startup Iceland
Project partner (Iceland)
