Aalto University has released the New Cotton Project's second white paper which explains the main business models and canvases in a direct, thorough manner, providing interpretations, and practical examples for further understanding of their particularities.
- The new white paper divides the main business models into four categories: product and use-oriented, service and data-oriented, production-oriented, and result-oriented.
- It also presents three canvases: flourishing, circulab, and the circular business model tool. By doing so, we are assisting readers who might be interested in embracing circularity but are missing the know-how.
The New Cotton Project: The three-year multi-stakeholder project, which got under way in October 2020, will harness cutting edge chemical recycling technology to pilot and scale circular fashion within garment production.
- This European Union-funded project brings together a consortium of 12 participants across the textile industry production value chain to demonstrate that creating new clothing from regenerated cotton textile waste can be commercially viable and it can be done today in order to disrupt the fashion industry as one knows it.
Some highlights:
- The white paper’s main objective is to illustrate how business models have been shifting the 'way' businesses work. In simple terms, business models are abstract systematisations of how a business functions, the purpose behind the value creation of a good business, and how the company shares it (product or service) with their customers.
- The white paper is divided into five chapters, introducing the reader to circular business models, their sub-categories, business canvases, sustainable growth and providing current examples of circular businesses in the textiles industry. It concludes with an overview on business model innovation and how to measure a successful transition to a circular economy.
- The white paper was developed with the intention of creating a centralised and easy-to-read manual on circular business models. The models presented (a total of 18) represent the most commonly available or discussed models in academic literature as well as in professional publications such as 'Board of innovation'.
