In the ever-evolving world of entrepreneurship, sustainability isn’t just a buzzword—it’s a game-changer. Circular Economics is a revolutionary concept that’s turning traditional business models on their heads. At Drexel University’s Close School of Entrepreneurship, we’re working to better understand and prepare our students to utilize this transformative approach.
Demystifying Circular Economics: The Path to Sustainable Growth
Circular Economics is a paradigm shift with the potential to reshape the business landscape. A circular economy is a model of production based around reusing, repairing, and recycling existing materials and products to extend their life cycles’.
Circular Economics isn’t just about saving the planet; it’s about reimagining business practices for a brighter, more sustainable future. Through Close School initiatives like the IIH (Impact Innovation Hub) program, we are looking to innovate businesses towards a better tomorrow.
What we’re doing for Circular Economics
At the Close School, we’re empowering the next generation of entrepreneurs to embrace Circular Economics and make a difference. Through real-world success stories and hands-on experiences, we’re showing aspiring business leaders how to turn their vision into reality.
A great example of circular economics in practice is that of Sharing Excess, a Close School-born nonprofit looking to expedite the process of donating fresh food, driving down the amount of food wasted each year. Since 2018, over 41,00,000 pounds of food has been saved from going to waste, or the equivalent of more than $77,000,000.
This is just one example of the many sustainable businesses to come directly from the doors of the Close School. Others include Reveal, Flo’s Slow Fashion and many more. Our programs, like the BS degree in Sustainability and Innovation, are equipping students with the skills and knowledge to thrive in a Circular Economy. Our goal is to not only prepare the entrepreneurs of tomorrow to be successful financially, but to help them have a positive impact on the world at large.
Overcoming Challenges, Embracing Solutions
A full transition towards a circular economy will take time, and there will be obstacles along the way. That’s why the Close School works hard to help our future entrepreneurs develop themselves into world-class problem solvers.
We have a unique approach to teaching entrepreneurship as a habit of mind within the framework of environmental stewardship, social equity and economic sustainability. From navigating regulatory landscapes to fostering collaboration, we’re reframing challenges into unique opportunities for growth and innovation.
Charting the Course for the Future
As we look ahead, the future of Circular Economics is bright. At the Close School, we’re committed to staying at the forefront of this exciting movement, shaping the entrepreneurs of tomorrow and paving the way for a world where business success goes hand in hand with environmental responsibility. Circular Economics isn’t just a theory – it’s a blueprint for a better tomorrow.
