To strengthen its ties within Asia, PCX has joined The Incubation Network, which consists of 60+ members who are all driving circularity innovation within the region.
Founded in 2019, The Incubation Network is a partnership between non-profit organization The Circulate Initiative and impact innovation platform SecondMuse. With its mission to amplify the growth of circular economy programs, the network sources, supports, and scales startups by connecting them with an ecosystem of stakeholders, including industry experts, investors, civil society organizations, and government leaders.
“The Incubation Network builds on work by SecondMuse to accelerate innovative solutions in support of ocean health, particularly in Asia and Australia. With PCX, we want to contribute to the growth of these startups by unlocking new funding through plastic credits,” says Vincent Kneefel, Managing Director of PCX Solutions.
“For a problem as big as plastics, we need robust innovation ecosystems. This is the ideal platform to help scout impactful solutions that can tackle the plastic crisis,” says Nanette Medved-Po, PCX’s Founder and Executive Chair.
The highly collaborative community consists of members from India, Indonesia, Thailand, Vietnam, and the Philippines, a region responsible for 60% of global plastic waste. By boosting initiatives from these countries, up to half of the world’s plastic leakage can be addressed and eventually reduced, while improving the livelihoods of thousands of informal waste workers in the sector.
To date, The Incubation Network has provided $1.5 million in funding, diverted 41,672 metric tons of plastic waste through supported projects, provided 1,100 hours in mentorship, sourced 276 innovations across the network, and helped raise $48 million in capital for startups.