Singapore-based ‘The Incubation Network’ (TIN) has partnered with ECCA Family Foundation to launch an initiative to support early-stage startups focusing on Thailand’s emerging plastic waste economy.
TIN is an impact-driven initiative that sources, supports and scales holistic, innovative solutions to combat plastic pollution through strengthening entrepreneurial ecosystems with a diverse network of key partners.
As part of the initiative, ECCA Family has committed US$2 million of strategic funding to spearhead the effort.
As per a press statement, TIN will bring to the table strategic relationships across both public and private sectors, including the world’s largest FMCG companies, government bodies across North America and the Asia Pacific, VC firms, global development networks, industry experts and more.
Its three significant partners, including Seedstars, the Alliance to End Plastic Waste, and STEAM Platform, will launch incubators, accelerators and knowledge-sharing platforms for entrepreneurs. These will strategically tackle bottlenecks founders in Thailand face throughout a startup’s life cycle, focusing on the regional plastic waste value chain.
“Together with our partners, the Federation of Thai Industries and Thailand PPP Plastics, the Alliance is rolling out projects in Bangkok and Rayong with unique models for collecting and segregating plastic waste.
Also read: How the upcycling movement can help build a true circular food economy
The Thailand Plastics Circularity Accelerator programme complements this effort by supporting ventures in developing and deploying solutions to create value from the plastic waste captured in the communities we are serving,” said Nicholas Kolesch, VP (Projects), Alliance to End Plastic Waste.
The Incubation Network is also set to onboard as a member of the Thai Government’s public-private partnership for plastic and waste management, which aims to cut down over 50 per cent of marine plastic debris by 2027.
According to the World Bank report, Thailand is ranked sixth in the top 10 sources of global ocean plastic, contributing approximately 322,000 of the 8-10 million tonnes entering the seas each year.
In Thailand, an estimated 87 per cent of the value of recyclable materials — close to US$4 billion annually — goes untapped. Inefficiencies in plastic management have resulted in much of the country’s waste being incinerated, dumped in unsanitary landfills or leaked into the environment, primarily via waterways. This not only results in animals and people ingesting microplastics but damages water and air quality and accelerates climate change.
Established in 2019, The Incubation Network is a partnership between non-profit organisation “The Circulate Initiative” and impact innovation company SecondMuse.
The organisation has helped to scale over 75 startups to date, of which at least 29 per cent has female leadership. This is done via incubator-like programmes with a local lens on specific plastic issues, such as why flexible packaging has low recycling value in Southeast Asia and how to introduce circular economy foundations to startups.
Christian Algot Enevoldsen, founder and chairman of ECCA Family Foundation, said: “Thailand is already making bold efforts to address its plastic waste challenges. Organisations like The Incubation Network can provide the country’s innovation ecosystem and entrepreneurs with technical support, connections and funding that will help them accelerate their development of commercially viable solutions.”
ECCA Family Foundation was established in 2020 to support and inspire transformative change with a strong focus on preserving our global ecosystems, especially the oceans and forests, and protecting biodiversity for future generations.
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Image Credit: The Incubation Network
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