Topolytics Wins Google and SAP Circular Economy 2030 Challenge
Topolytics has scooped $100,000 in funding, as well as a Google Cloud for Startups: Surge Package following its win.
Edinburgh-based data and analytics business, Topolytics, has been crowned the champion of the Google Cloud and SAP Circular Economy 2030 competition.
In 2018, global demand for resources was 1.7 times what Earth can support in one year and this is only expected to rise. Google Cloud and SAP, therefore, set this circular economy (an economic system aimed at minimising waste and making the most of resources.) contest to help address the problem.
The Circular Economy 2030 set out to find the best revenue generating ideas that could unlock $4.5 trillion (£3.46 trillion) of new economic output. Hundreds of companies from around the world entered the competition, which looked at commercial concepts that could scale globally and help to reduce waste and pollution, as well as keep products and materials in use and/or regenerate natural systems.
Topolytics, which was founded in 2013, proposed expanding the scale and scope of its existing WasteMap data platform. Making the system of movements of waste and by-products much more visible and thereby identifying opportunities to reduce the impact of waste management and help to maintain materials and assets at a higher utility.
In this way, it helps to enable circular economy thinking and supports organisations and governments in meeting the United Nations Sustainable Development Goal (SDG) 12 on Responsible Consumption and Production.
Michael Groves, Topolytics founder, said: “I’m amazed, excited and hugely pleased that Topolytics is the overall winner of the Google Cloud and SAP Circular Economy 2030 challenge.
“Thank you to all of the team that took an idea and brought the competition to life. More than 250 companies applied from more than 50 countries. Its awesome validation of our vision and proposition.”
The Circular Economy 2030 organisers said: “The business idea for Topolytics not only met our judging criteria in terms of originality, but also demonstrated a well-researched proposal with a high potential for advanced application of both Google Cloud and SAP technology. Moreover, we were impressed by Groves’ engagement and willingness to roll up his sleeves during the interactive workshop, where he demonstrated a strong level of commitment to learning and growth.”
As the competition’s overall winner, Topolytics scooped $100,000 (£76,930) in funding, as well as a Google Cloud for Startups: Surge Package (including $100,000 (£76,930) in Google Cloud credits). The firm has also been awarded with SAP product access, 1:1 mentorship and access to the Google Cloud for Startups Bootcamp.