13 start-ups shaping the circular economy by redefining data and traceability

In today's interconnected world, the consequences of unsustainable practices ripple through global supply chains. Further, as the world looks to transition towards a more circular economy, the ability to track products and materials from cradle to grave is no longer a luxury but a necessity.

A recent Accenture study shows that over half of CEOs prioritize enhanced sustainability data collection across their supply chains. Yet, nine out of ten say inadequate technology hinders their efforts to build business resilience. This gap highlights the critical role innovative solutions that can track, trace and optimize the entire lifecycle of materials and products could play in creating transparent, traceable supply chains that promote sustainability and reduce waste.

UpLink, the World Economic Forum's open innovation platform, and Accenture have launched the Traceability for Circularity Innovation Challenge to find innovative new companies working on such solutions.

The following 13 groundbreaking start-ups were chosen as UpLink Top Innovators as they are redefining sustainability by creating transparent, circular value chains that reduce waste and promote ethical practices.

Transforming waste into a resource is a key tenet of the circular economy, and several start-ups are pioneering solutions to make this a reality. KWOTA is revolutionizing sustainability by digitizing the global supply chains of secondary and recycled materials. Its platform not only tracks and reports on material flows but also verifies carbon reductions achieved through increased recycling, creating a registry of recycled materials and carbon savings.

Another start-up, Replenysh, has created an integrated network and software that tracks materials throughout their entire lifecycle. By establishing a digital marketplace for fully traceable materials, Replenysh enables brands and producers to create predictable, sustainable supply chains from production to recovery and reuse. This reduces landfill waste and promotes material recovery.

To create new value from waste and excess materials, The Surpluss helps companies turn excess materials and resources into valuable assets. Matching companies with underused resources to unlikely partners creates new economic opportunities and reduces emissions. This helps to foster collaboration across sectors, driving innovation and sustainability.

Sykell digitizes the circular journey of reusable assets, allowing companies to manage their circular business operations at scale. Its meticulous tracking system operates at each stage of a product’s lifecycle, from production to reuse and eventual recycling.

The demand for comprehensive and effective waste management is growing as extended producer responsibility (EPR) rules for packaging and other traceability regulations gain increased traction globally. Producers are increasing their responsibility for the entire lifecycle of their products and searching for innovative data and traceability solutions that ensure waste is tracked and workers are compensated.

One start-up, CleanHub, has developed an artificial intelligence (AI)-driven governance platform that allows waste collection organizations to track, trace and verify waste streams – particularly plastic – from collection to end-of-life treatment. Another new company, Saahas Waste Management, focuses its efforts on India. Its traceability solution seeks to ensure verified proof of sourcing and recycling to enable producers, importers and brand owners to ensure transparency and accuracy.

GIVO combines technological innovation with physical infrastructure, targeting underserved areas of Nigeria in particular. Its GIVO Technology Platform uses the Internet of Things (IoT) and GPS to monitor material flows in real-time, track emissions, and ensure transparent payments to stakeholders. GIVO also operates off-grid, solar-powered facilities that engage local communities in recycling efforts.

Supply chains can become far more transparent and traceable by combining blockchain’s secure and immutable record-keeping capabilities with IoT’s real-time data collection and monitoring. This could ultimately boost sustainability and transparency to support a circular economy.

But fragmented supply chains still pose traceability challenges for many industries, particularly agriculture. Bext360 addresses this problem by leveraging blockchain technology, IoT and mobile apps to create an end-to-end traceability platform for agricultural products and global commodities. The platform allows real-time tracking from farm to consumer, ensuring products are not only authentic but also ethically sourced.

Similarly, trustworthy data is needed across agriculture supply chains for ethical sourcing. Another start-up working in this area, TraceX, solves this challenge by connecting various stakeholders across supply chains using a blockchain network. This facilitates a seamless exchange of credible and verifiable data.

The fresh produce industry faces significant challenges in maintaining quality and reducing waste.

One start-up, Neolithics, has responded by developing an AI-based inspection system. This platform provides detailed insights into produce's internal and external characteristics, enabling better decision-making on how to best use the inventory and minimize waste throughout the supply chain.

Logistics play a crucial role in improving traceability within global supply chains, ensuring that goods are efficiently tracked and managed from origin to destination.

A start-up in this space called Dockflow aims to solve inefficiencies in these processes by addressing the lack of container visibility in maritime logistics. It uses blockchain and IoT technologies to provide real-time tracking and monitoring of containers and cargo. This ensures transparency and accountability at every stage of the supply chain.

Through open standards, proactive monitoring, and data security, Mesur.io provides comprehensive supply chain intelligence that enhances sustainability, transparency, and efficiency across industries such as electronics, textiles, and food production. Its platform navigates complex supply chains by offering real-time tracking, risk management and compliance verification. Mesur.io helps businesses design products aligned with circular economy principles, driving the shift towards a more sustainable future.

The textile industry, in particular, is highly fragmented, leaving its supply chains struggling with traceability and verification of product claims. TrusTrace has developed a market-leading platform for supply chain traceability and data management. Its mission is to empower brands with the data they need to know, prove and improve the impact of their value chains. TrusTrace has developed a platform to improve textile traceability using real-time data collection. It’s already helping many of the world’s largest fashion brands meet their sustainability commitments.

By harnessing the power of data, blockchain, AI and IoT, these 13 innovative start-ups are creating transparent, traceable supply chains that promote sustainability, reduce waste and ensure ethical practices across industries. As these technologies continue to evolve, they will play a crucial role in building a more sustainable and circular global economy.