The project partners involve the Government of Aragon (policy alignment), ANCES (links to private funders), AITIIP (technical support to projects), European Business Network (to liaise with a large array of European region and the CCRI), and University of Leiden (for expertise on circularity assessment).
 

The overall implication is that implementing a change from a linear to a circular business model involves significant risks, which necessitates de-risking, in combination with a learning environment. Providing some financial support is essential. Investors and lenders need to learn about and assess better if financing such business investments in circular transitions will pay off, so that they ultimately can take over the role of providing risk capital. Therefore, RESOURCE aims at co-creating a PDA solution which reinforces CE projects and supports innovative business models and investment schemes, to help them raise funds from the private market in Aragon.
 

In this project, nine pilot projects will seek funds for an investment of EUR 20 000 000. The approach developed in the project aims at feeding from European best practices and replicated in other regions. RESOURCE is focussing on the Aragon region and will last 36 months.

G.A.C. Group, France

Aragon

The scope of the project:

• Circular Cities and Regions Initiative’s project development assistance (CCRI-PDA).
• Help project promoters develop their projects.
• Bring together the technical, economic and legal expertise needed for developing CE investment projects.
• Result in the actual launch of investments during the action.

The objectives of the project:

• Develop new PDA services to fund regional CE investment projects based upon an improved governance and innovative organisation of the Argon business service support ecosystem. This is to select CE investment projects with a demonstrated financial viability and sustainability as tangible showcases to trigger further market replication.
• Build an integrated expertise pool to technically, economically and legally support the regional CE investment projects.
• Develop innovative financing schemes to boost private investment for CE project and launch concrete investments.
• Ensure a high degree of replicability of the PDA and related services to disseminate across Europe.
• Maximise and measure the project’s impacts for optimum dissemination of project’s results in Aragon and beyond.

• D1.1 Stakeholder mapping:   Report highlighting all stakeholder involved in the project, at local and European levels, their interest, convergence and divergence. This deliverable is result of Task 1.1
• D1.2 Stakeholder engagement strategy: Report bringing forward engagement sustainment and management of stakeholders, during the project and beyond. This deliverable is result of Task 1.1
• D1.3 Results of co-creation workshops: Presentation of the methodology, results, main conclusions and next steps. This deliverable is result of Task 1.2
• D1.4 Expert Committee founding members and rules:  Document formalising the functioning of the expert Committee. This deliverable is result of Task 1.3
• D2.1 Opportunity mapping for the CE projects:  This deliverable will summarise the potential to create a sustainable CE of each of the Aragonian main value chain. This deliverable is result of Task 2.1
• D2.2 Circular Bioeconomy Readiness Level: In this deliverable the level of development in different criteria (technologic, social, legal, etc.) will be assessed for each of the Aragonian main value chain. This deliverable is result of Task 2.2
• D2.3 Guidelines for Legal and regulatory sustainability CE projects:  The expected impact in the sustainability of the region based on the Circular Models will be described along this deliverable. This deliverable is result of Task 2.3
• D2.4 Guidelines for actionable CE projects:  Real plans for the operative implementation of the CE models for each of the main value chain will be summarised. This deliverable is result of Task 2.4
• D3.1 Innovative business plans to attract investor:  Through workshops project partners will teach the start-ups how to present the innovative business plans (decks) in an appropriate way for investment rounds with potential investors in their forums. The results of these workshops will be collected in summary document. This deliverable is result of Task 3.1
• D3.2 Report criteria required by CE projects to bring private investors into their projects:  A list of criteria will be drafted in order to have common elements in CE projects to bring private investors. This deliverable is result of Task 3.2
• D3.3 Report on critical needs and ideas that investors have when investing in projects:  A list of criteria will be drafted in order to have critical needs and ideas that investors have when investing in CE projects. This deliverable is result of Task 3.3
• D3.4 Results of the Demo Days and signed contracts list:  To get the required funding given the potential of CE projects in our region will participate in different investment fórums and the project hold Demo Days. The results of these Demo Days and the signed contracts once the matchmaking has materialised, will be collected in summary document. This deliverable is result of Task 3.4
• D4.1 Map of CE projects implemented across EU countries:  Through a desk research project partners will identify CE projects implemented across different EU countries, by relying on the networks of contacts across the continent. The results of the mapping will be collected in summary document. This deliverable is result of Task 4.1
• D4.2 European CE best practices selected:  Following the mapping exercise, the consortium will identify 5 European CE best practices which will be benchmarked with the RESOURCE Identified projects, 5 presentation sessions will be organized in different EU countries with the aim of selecting CE best practices implemented at a EU scale. This deliverable is result of Task 4.2
• D4.3 List of evaluation criteria:  A list of criteria will be drafted in order to have common elements to evaluate the CE best practices to be selected. This deliverable is result of Task 4.2
• D4.4 (3 rounds each) benchmarking and tailored coaching sessions organized:  A cycle of workshops will be promoted to 1) benchmarking the RESOURCE project with the EU selected best practices, 2) analysing projects’ strengths and weaknesses and offering tailored coaching, 3) offering insights on pitching techniques and traditional and non-traditional sources of financing. This deliverable is result of Task 4.3
• D4.5 RESOURCE Policy Brief:  Policy recommendations to be shared with the CCRI on the uprising of private investments on CE. This deliverable is result of Task 4.4
• D5.1 Communication, dissemination and outreach strategy:  Report detailing audience, messages, channels of RESOURCE. This deliverable is result of Task 5.1
• D5.2 Dissemination and outreach strategy update:  Highlights the progress of the communication and dissemination strategy. This deliverable is result of Task 5.1 and Task 5.2.
• D5.3 Report on international networks and policy outreach and recommendations:  List of organizations and actors, complemented with the recommendations shared in the framework of workshops and benchmarking initiative. This deliverable is result of Task 5.3
• D5.4 Exploitation and sustainability draft plan:  Report on the main asset(s) of RESOURCE and their exploitation beyond the project. This deliverable is result of Task 5.4
• D5.5 Final exploitation and sustainability plan:  Report on the main asset(s) of RESOURCE and their exploitation beyond the project. Proposition when relevant of business canvas. This deliverable is result of Task 5.4
• D5.6 RESOURCE Impact Assessment:  Definition of indicators, analysis of data, recommendations. This deliverable is result of Task 5.5
• D6.1 Project Handbook and Quality Assurance Plan:  The way of managing the internal communication and assign clear responsibilities to all relevant partners in order to carry out the project efficiently will be collected in summary document. This deliverable is result of Task 6.1
• D6.2 Data Management Plan-Initial Plan:  The outline how data collected, stored and generated will be handled during this project will be collected in this document. This deliverable is result of Task 6.5
• D6.3 Data management Plan - final version:  The outline how data collected, stored and generated will be handled after this project will be collected in this document. This deliverable is result of Task 6.5

• Input, support and in particular knowledge provision to Thematic Working Groups of the CCRI-CSO
• Sharing of knowledge so that the best practices and business models can be replicated to other regions
• PDA methodology as input for CCRI methodology

• In Aragon, there are companies that may need additional funding for the development of projects that have been granted and companies that have viable projects that have been left out of public funding. Some of them were excluded from public funds because they were not so much R&D projects but innovation or simple investment projects, but they were also CE projects.
• Making projects attractive for investors.
• Liaising with a CE friendly network of banks

• Circular Aragon Strategy, Government of Aragon manifestation of interest to fund circular projects.  Government of Aragon call for aid for R&D projects in the CE (BOA of 25 August 2021). Based on them and its own networks, the Government of Aragon has identified a portfolio of circular projects in need of funding and that can be invited to participate in this project.
• Laws on CE are evolving at the European level.

A proactive search will be carried out for existing initiatives, and those that may arise during the duration of the project, such as: Crowdlending, crowdlending-factoring, business angels, participatory loans, business accelerators/incubators, as well as those that may come from aid from the different administrations that can complement both these innovative and traditional financial initiatives. New financing instruments such us open banking, direct lending, the alternative stock market, crowdfunding, etc. will make things easier and faster for SMEs.
 

These innovative finance schemes will enable easy access to a variety of (new) sources of funding, provided 'just in time', shortening the time needed to access the necessary funds as much as possible.
 

Business Angels, Equity Crowdfunding, Venture Capitals, Private Equity, Corporate Venturing, Banks, etc.

The project proposes an innovative assessment for a circular project, which covers different dimensions, including the environment, by counting of experts in the field.

Communication and dissemination measures are planned to raise awareness on circular projects and their results towards the general public. We will work with relevant capacity building organisations in Aragon by promoting action to involve the civil society.

The project methodology is focused on the creation and refining of innovative business models for CE projects based of the main circular business model principles:
 

1. Source products and materials from the economy, not from ecological reserves.
2. Create value for customers by adding value to existing products and materials.
3. Create valuable inputs for businesses beyond your customer.

• Institutional stakeholders: GoA, CEEI and other relevant parapublic stakeholders.
• Intermediary organisations and facilitators: regional clusters, key research institutes, including finance networks and associations.
• Finance stakeholders: Business Angels, Incubators/Accelerators, Equity Crowdfunding Platforms, Family offices, Media for Equity, Venture Capital and Private Equity, Corporate Entrepreneurship.
• Final beneficiaries: Companies involved in CE.

• Departamento de Economia Y Empleo - Gobierno De Aragon, Spain
• Fundacion AITIIP, Spain
• European Business and Innovation Centre Network, Belgium
• University of  Leiden, The Netherlands
• Centro Europeo de Empresas e Innovacion de Aragon SA, Spain