The TSB says, ‘We have identified “closing the loop” and the move towards the “circular economy” as a significant opportunity for UK business to contribute towards a resource-efficient and low-carbon economy.’
For the second phase of its initiative, the TSB is seeking projects to redesign products or systems to extend their lives and decrease their environmental impact.
This is the second phase of the TSB’s competition, entitled Resource Efficiency: New Designs for a Circular Economy. The first phase launched last year in conjunction with the Royal Society of Arts’ Great Recovery programme, which aims to encourage designers to minimise waste.
In total, the TSB initiative aims to fund up to 50 feasibility studies.
The initiative’s second round opens on 11 February and the deadline for applications is 27 March. For more information visit: www.innovateuk.org.