Veltha is ready to strive on its expertise to ambitiously expand its research objectives, thus embracing new areas in need of sustainable development.
CIRCULAR ECONOMY BUSINESS MODELS
Veltha plays an essential role in the design of a Regional Circular Economy Approach, boasting expertise in the creation of methodologies and toolkits necessary to develop a monitoring system to support the circular transition in EU regions.
In the past year, Veltha has put forth a concerted effort in exploring the technological scenarios for the application of digital tools to the benefit of the circular economy.
One of the Veltha’s research focus primarily dwells upon the identification of potential stumbling barriers of existing socio-economic policy instruments at regional, national and EU level.
Through an accurate and systemic monitoring of emerging limitations to circular opportunities, Veltha strives to build and expand an interregional ecosystem of regional officers and stakeholders interested in joining forces to bring to life circular economy initiatives to make them real. The management of the Policy Lab activities originated within the SCREEN project and the co-design and validation of the assessment criteria for circular economy projects, has led Veltha to gain a role of responsibility in the definition of policy recommendations in reference to business models and value chains for companies involved at the regional level, social recommendations for citizen engagement and reskilling, and environmental recommendations centred on the product life cycle approach. Veltha’s research will keep leading the direction towards the performance of a complete transition to a circular economy system in the regions, with the aim of defining action plans for regional interventions and enhancements, alongside policy and business plans for further development and replication pathways in all the EU regions.
In the past year, Veltha has put forth a concerted effort in exploring the technological scenarios for the application of a digital tool that is being designed by one of the European projects belonging to our portfolio. This project, revolutionary by its genesis, concurrently deploys all the highly advanced computing technologies, from artificial intelligence and IoT technologies to the use of big data and digital twin for product predictions and adaptations, to deliver the most performing research-based service for a platform that will set the ground for a far-reaching breakthrough of our economic paradigm. The involvement of our organisation in such an ambitious initiative and the arising mutual synergies between the different projects we have participated in, has led the way for our growing expertise in digital technologies for a circular economy. In fact, Veltha is currently playing a leading role in the development of new software applications and services aimed at identifying, through data collection, analysis and interoperability of the platform users, cross-sectoral and cross-regional value chains for the creation of new business cases in Europe.
In this scenario, Veltha draws on their network of regional authorities to implement the SCREEN mapping tool and connect with stakeholders for the identified value chains to be turned in circular business opportunities. In this regard, Veltha’s expertise is also sought to design software modules for material flow monitoring, providing an aggregated view on the circulating components and materials across the nodes of the platform. A leading role is also executed to identify potential barriers, through an accurate monitoring of potential emerging limitations to cross-sectoral business interactions, that could be removed through specific legislations designed by policymakers at all levels to support circular economy practices based on real data observation. Drawing on our expanding ecosystem of stakeholders, Veltha is also responsible for the Open Call management and promotion targeted at potential end-users of the platform in a given sector and potential new platform owners, with the aim of designing new developments and identifying new business areas to be covered. Building on this previous experience, Veltha’s team is now also involved in the development of digital tools and methodology enhancements for the assessment of the circular economy approach within specific regional contexts, based on life cycle assessment methodologies, innovation, and cooperation strategies.
CIRCULAR ECONOMY BUSINESS MODELS
For the achievement of an advanced and specialised experience in the field, the fruitful partnership with Università di Viterbo (UNITUS) has been essential, as it has opened the gate for us to access and study the design of circular business models tailored to the specific needs of the business activities. Now Veltha’s expertise lies in the definition of strategies leading to the creation of new circular business models and regional enhancements while constantly monitoring and assessing impact through citizens and stakeholder engagements. In this framework, Veltha attempts at showcasing and ingraining in people’s mindset how circular models can act as catalysts to boost socioeconomic growth and address the environmental challenges, by trying to identify and design methods that can streamline the sustainable process of the economic activities.
The monitoring system for such activities is generally based on a specific set of indicators aimed at assessing the circularity of industrial processes within regions, ranging from circular design, new production processes accepting secondary raw materials, waste reduction, reduction emissions, and so on. However, the implementation of a circular economy business model cannot be accomplished without an accurate and systemic analysis of the needs and expectations concerning the relevant stakeholders involved. In this scenario, Veltha leaves its mark by drawing on the procedure co-created and validated during the SCREEN project that enables the identification of existing value-chains in regions, leading them to cross borders for mutual interaction and unlock potential new business models grounded in the circular philosophy. In this regard, Veltha is committed to performing activities that could bridge the gap between business representatives and policymakers for the resolution of hurdles and limitations through targeted barrier removal actions, that can break through the wall and facilitate mutual information exchange for future opportunities.
Veltha’s research scope does not want to be confined to the areas in which Veltha has gained a leading position over the past ten years and is ready to strive on its expertise to ambitiously expand its research objectives, thus embracing new areas in need of sustainable development.
After an accurate analysis of the state-of-the-art of implantable actuating devices suffering time-limited operational capacities due to exhaustible batteries, Veltha will be involved in a new project focused on the design of new high performance sustainable materials that could replace the limited ones in the creation of soft actuating devices, by using metabolic biochemical energy to function, imitating the properties of biological tissues and thus eliminating the need for external power sources. The proposed research has the objective to spark a revolution in the field of biomedical engineering and medicine which will have an impact on other scientific, industrial and socioeconomic fields. Veltha is ready to be in the frontline to dismantle the industrial implications around the concept of “revolution” to charge it with a new meaning that makes it circular and sustainable.