Austria names first Circular Innovation Award winners, led by $115M-revenue refurbed
What's the deal? Austria handed out its first Circular Innovation Award Austria last week at the Haus der Industrie in Vienna, recognising companies that make money from the circular economy. An international jury picked five category winners and two special prizes from 57 entries. Among them: Vienna scaleup refurbed, glassmaker Vetropack, and Graz startup byeagainDealroom has a profile for this one. Try Dealroom →.
Who won what? refurbed, the marketplace for refurbished electronics active in 24 countries, took Circular Business Model Innovation. byeagain, which reprocesses non-standard returned goods with AI-driven processes as "Refurbishment-as-a-Service," was named Circular Startup of the Year.
The rest of the field: Vetropack Austria won Circular Industry Innovation for "Rezon," which it calls the world's first reusable glass bottle in a hardened lightweight build. Brantner Green Solutions took the Technological Circularity Breakthrough for recovering glass from residual waste, and GzG Gipsrecycling — a joint venture of PORR, Saint-Gobain Austria, and Saubermacher — won the Circular Collaboration Award for Austria's first gypsum-to-gypsum plant.
Two special prizes went to BauKarussell for Social Circular Impact and textile service provider Salesianer as Circular Pioneer.
Why it matters: refurbed is expected to top €100 million (about $115 million) in revenue for the first time this year and is expanding its trade-in programme, which returns used devices to the market. The award rewards firms showing the model pays off commercially.
Who's behind it? The award is run by the Circular Economy Forum Austria, law firm Schiefer Rechtsanwälte, and Raiffeisen-Landesbank SteiermarkDealroom has a profile for this one. Try Dealroom →. The agriculture and climate ministry holds the patronage, and the Vienna Business AgencyDealroom has a profile for this one. Try Dealroom → backs the startup category.
"We are putting companies in the spotlight that show, with concrete solutions, that the circular economy is economically viable and competitively relevant," said Karin Huber-Heim, president of the Circular Economy Forum Austria (translated from German).
The signal: Austria is tying commercial proof points to policy ambition. Infrastructure minister Peter Hanke set a target for the country to rank among Europe's top three in circular material use by 2035 — a goal that needs companies like refurbed and byeagain to keep turning waste into revenue.
Read more: trendingtopics.eu
Image credit: re:publica 2022
