Greentown Labs and BASF jointly launch the Greentown Labs Circularity Challenge to advance innovation for a circular economy
Greentown Labs and BASF are seeking innovative ideas from startups with a proof of concept solution to disrupt the plastics, energy storage and recycling value chains to enable a sustainable and circular economy. This program is supported by Stanley Black & Decker, a leading global diversified industrial and a customer of BASF.
"The circular economy is all about resource efficiency and implementing sustainable practices across value chains," said Emily Reichert, CEO of Greentown Labs. "We believe deeply in the impact innovations across the circular economy can have on our planet and we are eager to see all the great ideas startups have to improve energy storage, plastics, and recycling value chains. BASF has been a wonderful, supportive partner to the Greentown Labs community and we are proud to be running this challenge with them!"
The Greentown Labs Circularity Challenge, located at Greentown Labs in Somerville, Massachusetts, offers a collaborative environment to creatively explore, pilot and develop disruptive approaches to circularity, joining forces between corporates at different positions in the value chain — BASF and Stanley Black & Decker — and the innovative startup ecosystem. Selected startups will gain access to industry advisors and mentors, business and technical resources as well as physical infrastructure, among other benefits.
“BASF believes that the chemical industry and its innovations can lead the way in circular economy thinking and action,” said Peter Eckes, President, Bioscience Research and Regional Research Representative North America, BASF. “Yet, solving the challenges for a sustainable and circular economy requires innovation across the value chain to provide benefits to customers and suppliers, and in many cases may require completely new business models and partners. By teaming up with Greentown Labs and Stanley Black & Decker we have already initiated a collaborative environment and look forward to working with startups to explore disruptive ideas in plastics, battery materials and digital tools.
“Stanley Black & Decker has the reach, product innovation and mindset to be a powerful force for good, especially in today’s world where so much is changing and being disrupted by technology and new ways of doing business,” said Marty Guay, Vice President of Business Development at Stanley Black & Decker. “Corporations like ours can be part of the solution yet we also acknowledge the need to partner and collaborate with other recognized leaders such as BASF and Greentown Labs. By working together, we can harness our collective skills and imagination to deliver positive business and societal outcomes in areas of mutual importance.”
Submissions for the program will be evaluated based on potential technological impact, strength of team, and relevance for partnership with BASF and Stanley Black & Decker, among other factors. Applicants must disclose the status of any intellectual property (IP) relevant to their submission. Selected applicants’ IP will be fully protected throughout the review process.
Applications for the Greentown Labs Circularity Challenge are due by August 30, 2019 at 11:59 p.m. EDT. More information about the call for applications is available at basf.us/circularity-challenge.