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Background

While large enterprises undoubtedly play a major role in the circular transition, circular startups are uniquely positioned to bring circular economy solutions into focus. Their ability to move fast can shake up entire industries and change how we work and live. This sets them apart from bigger companies and places them at the heart of the circular transition. However, startups face significant challenges, including navigating complex regulatory frameworks and high compliance costs. To achieve impact, start-ups must become financially sustainable organizations and they need to build their capacity to deliver their solutions at scale. This results in the necessity to understand their exact needs for resources, find ways to secure these resources and therefore actively interact with supporting organizations, established businesses, build partnerships and create stable business relationships. Elements that facilitate successful entrepreneurial journeys of ASEAN circular start-ups include

• mentoring and targeted advisory to identify the need for resources (e.g. funding, skilled team members and work force, business insights such as knowledge on legislation in target markets, valuable business contacts and networks) and to receive access to these resources
• networking events and competitions, for matchmaking with potential business partners and future customers
• mobility schemes to attend such events (for the establishment of business relationships) obtain firsthand insights into target markets (capacity building), and make initial contacts with potential business partners.

Side Event Description

This side event aims to bring together up to 60 participants from various ASEAN countries and beyond, representing

• Circular startups representing the winners of the ASEAN Ecothon 2023 and 2024 editions as well as the ClimateLaunchpad Vietnam Network,
• Startup incubators, startup support organizations, and entrepreneurship educators,
• ASEAN line ministries under the ASEAN Coordinating Committee on MSMEs (ACCMSME),
• Sustainable entrepreneurs and innovators from other global south countries for knowledge sharing and networking.

Hence, the event enables dialogue and knowledge exchange on common challenges and elements that facilitate successful entrepreneurial journeys. The event seeks to strengthen the ASEAN circular economy ecosystem by fostering connections and knowledge sharing and empowering startups to thrive.

Intended Results

• Provide peer-learning opportunities for circular startups,
• Providing a dialogue platform for circular startups with other relevant stakeholders in the innovation ecosystems,
• Raise awareness of policymakers on what helps circular startups,
• Outline of potential next steps to implement suggested actions
• Drafting of brief outcome report / statement to be fed into a panel session dedicated to startups at the ACEF 2024.

If you are interested in joining this event, please express your interest by using the following registration form: https://forms.gle/gMBE5QbqNFxoX3sCA. If you have any questions, please contact Ms. Ngoc Mai Trinh from Hanns Seidel Foundation Vietnam at mai@hss.de.

About Hanns Seidel Foundation’s work on circular startups:

Since 2019, HSF has partnered with Seoul-based ASEM Eco-Innovation Center (ASEIC) to support startups with sustainable business models in various ASEAN countries. This project is part of the Republic of Korea – ASEAN Startup Partnership and endorsed by the ASEAN Coordinating Committee on MSMEs while bringing in expertise from the European Union. HSF and its partners provide the participating startups with training and coaching sessions on sustainable entrepreneurship, financing mechanisms and other tailor-made capacity building while strengthening the regional sustainable startup ecosystem in ASEAN with networking and dialogue activities.