'Training, Keeping Supply Chain Data Secure Behind Success Of Circular Startups'

Good training and mentoring, helpful government policies and keeping supply chain data secure are among key factors that help "circular startups” succeed, according to a report by Indian Institute of Management (IIM), Lucknow.

- Press Trust of India

Circular startups are businesses that are designed from the start to reduce waste, reuse materials, and make efficient use of natural resources, rather than the traditional "take-make-dispose" model.

The research published in the Business Strategy and Environment journal offers insights into the key factors that help such startups succeed.

According to Suresh Jakhar, Professor, Operations and Supply Chain Management, with rising global temperature and fast-depleting natural resources, this study offers

insights into circular models that have become critically important.

Projections show that global usage of natural resources is expected to double by 2050, posing serious environmental and economic risks.

"The Circular Economy (CE) and Industry 4.0 (14.0) have emerged as highly pertinent topics for both academic research and industrial practice in recent years. Given that many CE start-ups leverage 14.0 technologies, understanding their success factors is crucial,” he told PTI.