Circular from the start
Startups have the opportunity to build businesses based around the circular economy from the start of their lifecycle.
“Startups have the ability to build their businesses from scratch, truly disrupt the status quo and educate both consumers and businesses, in the process”
“Startups play a crucial role in helping the economy transition to the circular economy, because they don’t have the red tape or consumer expectations big tech does,” says Thibaud Hug De Larauze, cofounder and CEO of scaleup Back Market. “They have the ability to build their businesses from scratch, truly disrupt the status quo, and educate both consumers and businesses in the process.”
Back Market, founded in 2014, says it’s now the globe’s biggest online marketplace for refurbished devices and appliances, with over 6m users and over €1bn raised.
According to figures cited by De Larauze, as much as 70% of existing toxic waste is due to disposed electronics, while only 12.5% is recycled.
De Larauze says big tech is always looking for the new — offering expensive products that they want consumers to purchase on a yearly, or biennial basis. That creates two problems for customers: affordability and impact on the environment.
“Refurbished technology can solve both of these problems. Not only are renewed devices much more affordable, they are key to creating a circular economy and drastically reducing the impact of technology on the environment,” says De Laurauze.
This impact of technology and electronic devices can also be mitigated by renting equipment rather than purchasing it. This is particularly useful for smaller businesses and startups that may not know what equipment they need as they begin their journey.
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