I made a decision to do something about this. Monetisation and the need for money is not going anywhere, so rather than fight it, we should work with it. Hence, I decided to create a company that focused on waste to wealth. I knew there was a way to tackle the circular economy, carbon emissions reductions, recycling, UN sustainability goals and revenue generation.
I developed cloud-based technology infrastructure and a mobile app. I developed a smart sensor that can both see (images) and smell (smell sensor) for contamination. I took the view that if I only focus on dry recycling, there will be no cross contamination. This will make logistics and revenue generation more effective.
Our business opened in Glasgow over a year ago. We acquired business customers very quickly but focused on our reputation as a waste to wealth driven FinTech servicing the recycling sector. Once we had cemented our reputation for reliability, honesty and trust, we proceeded to approach communities. We explained how we could support the local communities and families.
We wanted to work with local communities to raise money through their existing relationships with the local families. Our view was that families would be happy to provide their dry recycling to a community focused group rather than leaving it outside their home - if they knew the community would gain financially. We also knew that families would be happier to oblige if they also got something for their efforts. Hence, we opted to give them loyalty points.
We built a global, scalable and transferable platform in the knowledge that we can provide their offering to businesses locally and internationally. And this is the path that we are walking on. We welcome the engagement of any partners that wish to join this journey with us. We want to make a difference and we want to empower others to do the same.
Our biggest learning is that small/micro businesses and families will put significantly more emphasis on their recycling if their is a monetary incentive. We have developed the technology to support and prove this concept.
The other key learning is that sustainability businesses need to ensure they focus on revenue generation that is not directly related to their social initiative. This prevents any conflicts of interest.
- Percentage of recycling we achieve (currently 100%).
- Number of jobs we help create.
- Change in recycling behaviour.
- Revenues generated for communities.
- Carbon emissions saved.
- Number of families engaged and contributing.
- Engagement with our mobile app.