Deadline: 04-Nov-2024
Applications are now open for Cohort 3 of the NextCycle Washington Circular Accelerator Program to provide technical assistance for promising businesses and projects.
NextCycle Washington is a circular economy innovation platform designed to support the growth of businesses, community-based organizations, tribal nations, and institutions working within Washington’s waste prevention, reuse, repair, recycling and/ or organics recovery industry. By nurturing projects, the program helps reduce waste, keeps materials in use longer, and regenerates natural systems while developing equitable local economies.
The program will select up to 14 projects that contribute to building Washington’s Circular Economy. They are looking for projects focused on waste prevention, reuse, repair, recovery, recycling, organics management, and product development using otherwise-wasted materials. They are targeting the following approaches:
- Upstream Projects, which prevent waste or improve and expand rescue, reuse and repair of material and organic streams within Washington.
- Downstream Projects, which improve, innovate, or expand recycling, recovery and end uses of material and organic streams within Washington
Benefits
- Program Benefits for Selected Projects:
- Preparation for Larger Investment Pathways2: Teams that are selected for the Circular Accelerator will learn about the range of funding available to develop their projects and grow their businesses and organizations. Educational and consulting support will be provided to each team to help prepare a successful pitch for funding. The range of options includes but is not limited to: public or private grants, impact investment, venture capital, or traditional financing through a local bank or Community Development Financial Institutions (CDFIs).
- One-on-one Consulting: Consulting services with specific task outcomes will be available from expert-in-resident economists, operators, engineers, researchers, and graphic designers at Resource Recycling Systems (RRS), Cascadia Consulting Group, Start Consulting Group, Traversal Design, and other partners from businesses, community organizations, universities, research institutions, and local/ state governments.
- Expert Mentorship from the extended NextCycle Washington network: Teams will have access to leading subject matter experts who can:
- Provide insight into business and project planning:
- Provide helpful information about the recycling landscape, and markets in Washington State and beyond; and
- Facilitate connections along the supply chain.
- Accelerator Academy: This multi-day, intensive experience includes workshops focused on developing project and business plans, identifying funding and investment opportunities, leveraging partnerships, developing the perfect pitch, and interacting with other NextCycle Washington teams and industry experts. Travel and attendance costs are supported by NextCycle Washington.
- Networking and Partnership Facilitation: Teams will learn with previous and future Next Cycle WA cohorts to expand the circular economy network within Washington State.
- Teams will have many opportunities to connect with:
- Experts and investors in their industries
- Community Organizations and Nonprofits;
- Universities and Research Institutions; and
- Local and State Governments.
- Teams will be supported in developing partnerships including;
- Supply chain partnerships,
- Cross-organization partnerships, and
- Public-private partnerships.
- Teams will have many opportunities to connect with:
- NextCycle Washington Pitch Showcase: Teams will have the opportunity to pitch their venture to potential funders, investors, and partners at the conclusion of the track experience in May 2025.
- Recognition and Publicity: Teams are promoted through press releases, social media, published articles, webinars, the NextCycle Washington website, showcases, and public presentations, providing exposure to a larger network of investors and partners.
Eligible Projects
- Applicants must demonstrate that the proposed project has the potential for direct positive impact on Washington’s circular economy:
- Projects must be Washington-based or expanding to Washington and focused on waste prevention, reuse, repair, recycling, organics recovery, and/or product development using waste materials.
- Projects must have some existing traction. Ideation and feasibility studies are not eligible. Research projects working on product market fit and pilot projects are eligible.
- This program is open to private sector businesses, nonprofits, community-based organizations, institutions, and Tribal nations and organizations.
Eligibility Criteria
- NextCycle Washington Applicants may include one or more entrepreneurs/start-ups organizations, small businesses, established corporations, social enterprises, community based organizations or nonprofits, trade organizations, Tribal nations and organizations, universities, or research teams. Community-based organizations operating under fiscal sponsorship by another organization are welcome and encouraged to apply. Applicants are encouraged to form local and regional collaborative partnerships and apply as a Team. Local governments may be included on an Applicant Team but may not be the Lead Applicant. Out-of-state organizations are eligible, but the proposed project or venture must be located and directly address the circular economy in the state of Washington. Cross-sector partnerships and existing end markets from out-of-state are eligible to apply as long as their project is focused on Washington and addresses Washington-based material.
- Applicants may submit more than one application if the projects are different.
- NextCycle Washington Program Governance Circle Members and NextCycle Washington Application Mentors are not eligible to apply. This program is not intended for individuals not operating under a business or organization.
For more information, visit NextCycle Washington.