Strengthening capability regarding circular business models

November 17, 2022

Ha Noi, 17 November 2022 – The United Nations Development Program (UNDP) in Vietnam, the Netherlands Saxion University of Applied Sciences, and domestic partners, with support from the Dutch Embassy, organized an online training course on the tool for development of circular business models (#CECapacityBuilding). This training course presented enterprises, experts, and managers with information and expertise about the circular economy, difficulties, and circular economy (CE) models being implemented throughout the world, as well as an introduction to the circular business model tools and hands-on practice with them.

More than 40 trainees who were representatives from businesses, universities, and research institutes in the North, Central and South regions participated in this training. Businesses from various industries attended, such as agriculture, food, waste recycling, automation, tourism, commerce, and services. Professor Timber Haaker and experts from Saxion University and Hanoi National Economics University were the trainers.

"The circular economy tools introduced today will contribute significant support for the enterprises to identify their circular model with potential elements. We are very much looking forward to potential CE Action Plan, CE showcase at the business level, and partnership among businesses which adopted from the CE the training program," said Mr. Patrick Harverman, UNDP Deputy Resident Representative in Viet Nam.

Quickscan Circular Business Models, Circular Loop Designer, and a business model template are three tools to develop a circular business model.

Participants utilized these tools to develop business models for four case studies: a battery rental business model, a mobile application for garbage collection and sorting, a plastic recycling business model, and a model for using black soldier fly larvae to convert organic waste into nutrient-rich compost. With these four case studies, the groups utilized the techniques to identify circular business models, which were then presented, discussed, and critiqued by Saxion university professors.

"Businesses may be more resistant to adopt circular business models when it comes to financial investment." Prof. Timber Haaker stated, "a circular business model is viewed as a sustainable approach. It can cut the cost of raw materials, enhance the life and duration of a product's life cycle, and minimize and ultimately eliminate waste."

Mr. Nguyen Le, Deputy Director of Reenvitech Renewable Environment Technology Co., Ltd shared during the training session, "The training course has provided a very useful set of tools to assist businesses in identifying the problem of applying the circular business model as well as our plan for customer outreach and market expansion."

The training course is part of UNDP's partnership with the Institute of Environmental Economic Policy (EEPI), the Center for Entrepreneurship and Innovation in Thua Thien Hue (Hue Innovation Hub), the Institute for Circular Economy Development (ICED), Saxion University of Applied Sciences of the Netherlands, and the Institute for Policy and Strategy on Natural Resources and Environment (ISPONRE).

For more information, please kindly contact:
Phan Hương Giang
UNDP Media and Communications Analyst,
Climate Change and Environment
Mobile: 0948466688