Tradeshift, which digitally connects enterprises with their suppliers via a cloud-based platform, announced on Tuesday that it will waive the 30 percent revenue share it receives, for organizations that use its platform to build apps that help to support the circular economy. Organizations that build apps supporting the circular economy will receive all profit from their app.
The circular economy decouples growth from scarce resource use, allowing economic development within natural resource limits and encouraging companies to innovate to offer customers and users more sustainable products and services.
“If you think about impact, it’s not enough to get just a few companies involved. You need to create a fundamental shift in the global supply chain and economy,” said Tradeshift co-founder and CEO, Christian Lanng.
There’s growing consensus that the only way forward with sustainable production and growth is to switch from our current industrial linear model to one that is not only less dependent on primary energy and natural resources, but is also regenerative to eliminate waste. There are strong signs that the circular economy is going to have an impact within business. Organizations such as McKinsey, the Ellen MacArthur Foundation, and an array of large companies including Accenture, Novelis and Philips, advocate the idea.
Desso and Philips have emerged as leaders in articulating and pursuing circular business models. Both companies have engaged in focused efforts to divert themselves from linear thinking in designing next-generation products and services likely to influence their entire industries.
Tradeshift says companies on the forefront of this wave can unleash innovations such as new product-to-service approaches, new materials-recovery methods, and smarter projections and preparedness for future costs such as waste disposal or raw materials prices.
Tradeshift also has been named as a finalist in The 2015 Circular Economy Awards’ Digital Disruption category. The Circulars is an annual event recognizing individuals and enterprises from commerce, civil society and academia that have made a notable contribution to driving circular economy principles. It consists of five categories: Leadership, Entrepreneurship, Pioneer, Digital Disruptor and Cities/Regions. The awards will be presented at the January 2015 gala award ceremony in Davos, Switzerland.