Updated: Oct 28, 2018
My Social Good News
By Api Podder
Circulate Capital, the impact-focused investment management firm dedicated to financing companies, projects, and infrastructure that prevent ocean plastic (“Company”), and SecondMuse, a global business accelerator that works with local stakeholders, leading corporations and government agencies to build resilient economies , today announced the launch of The Incubator Network by Circulate Capital and SecondMuse (“The Incubator Network”), a new initiative to accelerate solutions to ocean plastic waste by partnering with existing incubators to build ecosystems of waste management and recycling innovators. The Company and SecondMuse developed The Incubator Network in partnership with Ocean Conservancy, a leading ocean protection nonprofit; it is supported by a new grant from the U.S. State Department. The Incubator Network’s first collaborative project, the Ocean Plastic Prevention Accelerator, is also supported by the Australian Government’s Department of Foreign Affairs and Trade.
The Company anticipates unlocking more than $20 million in funding for The Incubator Network from foundations, corporations, and development agencies. The Company made the announcement earlier today at the G7 Oceans Partnership Summit in Halifax, Canada.
By partnering with existing incubator initiatives, The Incubator Network seeks to rapidly scale the number of innovators in the sector, enabling eco-systems, and support for those innovations. At launch, incubation partners include:
Ocean Plastic Prevention Accelerator,
WeWork Labs India, and
The Incubator Network will initially focus on supporting incubation activities located in Indonesia and India, with additional interest in Vietnam, Thailand, and The Philippines, and is currently looking to partner with additional incubator partners and programs. For more information on how incubation programs can join the network, please click here.