Machine Compare selected into the Circulars Accelerator 2023
Machine Compare has been welcomed into the 2023 cohort of the Circulars Accelerator. This action-oriented, six-month accelerator programme is for companies advancing the global transition to a circular economy through innovation.
Launched in 2021 by Accenture, Circulars Accelerator is run in collaboration with the World Economic Forum and supported by Anglo-American, AWS, and Ecolab. The initiative focuses on three key areas: recovering value, transforming consumption, and innovating products & production.
This year's cohort announcement comes after a rigorous application process taking place between September 2022 and January 2023. The programme attracted applications from 6 continents and included the shortlisting of a total of 354 applications down to a final 16 entries. The 2023 cohort includes a diverse set of solutions in personal care, plastics and packaging, agriculture, construction, chemicals, environmental management, life sciences, energy, automotive, and software.
Machine Compare was accepted into the Transforming Consumption focus area which recognises solutions shifting the ways in which we produce and consume products and services. Specifically, it comprises organisations that are disrupting the ‘take-make-dispose' approach by focusing on solutions that are more sustainable and equitable for everyone.
Machine Compare’s entry focused on how Machine Compare Marketplace identifies surplus parts and standardises and enriches inventory data to facilitate their trade. This is helping tackle the recirculation of a potential €10 billion worth of industrial surplus parts held in global inventories before they end up in a landfill. The entry demonstrated how the solution benefits both its partners and the planet simultaneously – showing that green decisions can be both financially and environmentally beneficial.
Benjamin Findlay, CEO and Co-founder of Machine Compare, said about the company’s recent achievement: “We’re extremely excited about being selected to the 2023 cohort of the Circulars Accelerator. To know that we were one out of two entries to be accepted from Europe is very motivating for the whole team. We can’t wait to get stuck in the programme. We’ll not only be surrounded by like-minded changemakers like us but have the chance to network, learn and work with some of the most brilliant minds out there.”
The initiative will run for a total of six months. This includes innovation weeks and workshops focused on knowledge sharing and co-creation of solutions, as well as one-to-one sessions with experienced mentors and advisors. This will help Machine Compare strengthen its position and solutions in line with its mission to create a circular impact for businesses and the planet.