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Business model innovation in circular start-ups : overcoming barriers in the circular plastics economy

Fernando Lit (UGent) , Josephina C. C. M. Huijben, Myriam M. A. H. Cloodt and Erik Paredis (UGent)
(2024) INTERNATIONAL SMALL BUSINESS JOURNAL-RESEARCHING ENTREPRENEURSHIP. 42(4). p.506-550
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Abstract
Circular start-ups (CSUs) are crucial for implementing a circular economy; yet, little research has been undertaken on the specific barriers they face. Through a case study of CSUs in the Dutch plastics industry, we identify several key barriers encompassing technology dependence, poor credibility, constrained resources, collaboration challenges, lack of knowledge and inadequate institutional support. Additionally, we highlight four success factors (SFs) that enable CSUs to compete in circular plastics: circular value proposition design, market sensitivity, networking prowess and circular ambidexterity. Our study shows that CSUs can enact these SFs as strategies-in-use to overcome barriers. Yet still, CSUs in plastics continue focusing on recycling-centric business models, limiting their potential to drive the transition more radically along the waste hierarchy. This calls for support from various entities such as entrepreneurial ecosystems as well as a multi-stakeholder perspective that considers their business models as interdependent with other actors in the plastics value chain.
Keywords
circular plastics start-ups, business model innovation barriers, success, factors, circular economy ecosystem, FASHION INDUSTRY, SUSTAINABILITY, TRANSITION, FRAMEWORK, ECOSYSTEM

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Citation

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MLA
Lit, Fernando, et al. “Business Model Innovation in Circular Start-Ups : Overcoming Barriers in the Circular Plastics Economy.” INTERNATIONAL SMALL BUSINESS JOURNAL-RESEARCHING ENTREPRENEURSHIP, vol. 42, no. 4, 2024, pp. 506–50, doi:10.1177/02662426231217954.
APA
Lit, F., Huijben, J. C. C. M., Cloodt, M. M. A. H., & Paredis, E. (2024). Business model innovation in circular start-ups : overcoming barriers in the circular plastics economy. INTERNATIONAL SMALL BUSINESS JOURNAL-RESEARCHING ENTREPRENEURSHIP, 42(4), 506–550. https://doi.org/10.1177/02662426231217954
Chicago author-date
Lit, Fernando, Josephina C. C. M. Huijben, Myriam M. A. H. Cloodt, and Erik Paredis. 2024. “Business Model Innovation in Circular Start-Ups : Overcoming Barriers in the Circular Plastics Economy.” INTERNATIONAL SMALL BUSINESS JOURNAL-RESEARCHING ENTREPRENEURSHIP 42 (4): 506–50. https://doi.org/10.1177/02662426231217954.
Chicago author-date (all authors)
Lit, Fernando, Josephina C. C. M. Huijben, Myriam M. A. H. Cloodt, and Erik Paredis. 2024. “Business Model Innovation in Circular Start-Ups : Overcoming Barriers in the Circular Plastics Economy.” INTERNATIONAL SMALL BUSINESS JOURNAL-RESEARCHING ENTREPRENEURSHIP 42 (4): 506–550. doi:10.1177/02662426231217954.
Vancouver
1.
Lit F, Huijben JCCM, Cloodt MMAH, Paredis E. Business model innovation in circular start-ups : overcoming barriers in the circular plastics economy. INTERNATIONAL SMALL BUSINESS JOURNAL-RESEARCHING ENTREPRENEURSHIP. 2024;42(4):506–50.
IEEE
[1]
F. Lit, J. C. C. M. Huijben, M. M. A. H. Cloodt, and E. Paredis, “Business model innovation in circular start-ups : overcoming barriers in the circular plastics economy,” INTERNATIONAL SMALL BUSINESS JOURNAL-RESEARCHING ENTREPRENEURSHIP, vol. 42, no. 4, pp. 506–550, 2024.
@article{01J1VXQAKAKA4N4N6D8HJQFKRJ,
  abstract     = {{Circular start-ups (CSUs) are crucial for implementing a circular economy; yet, little research has been undertaken on the specific barriers they face. Through a case study of CSUs in the Dutch plastics industry, we identify several key barriers encompassing technology dependence, poor credibility, constrained resources, collaboration challenges, lack of knowledge and inadequate institutional support. Additionally, we highlight four success factors (SFs) that enable CSUs to compete in circular plastics: circular value proposition design, market sensitivity, networking prowess and circular ambidexterity. Our study shows that CSUs can enact these SFs as strategies-in-use to overcome barriers. Yet still, CSUs in plastics continue focusing on recycling-centric business models, limiting their potential to drive the transition more radically along the waste hierarchy. This calls for support from various entities such as entrepreneurial ecosystems as well as a multi-stakeholder perspective that considers their business models as interdependent with other actors in the plastics value chain.}},
  author       = {{Lit, Fernando and Huijben, Josephina C. C. M. and Cloodt, Myriam M. A. H. and Paredis, Erik}},
  issn         = {{0266-2426}},
  journal      = {{INTERNATIONAL SMALL BUSINESS JOURNAL-RESEARCHING ENTREPRENEURSHIP}},
  keywords     = {{circular plastics start-ups,business model innovation barriers,success,factors,circular economy ecosystem,FASHION INDUSTRY,SUSTAINABILITY,TRANSITION,FRAMEWORK,ECOSYSTEM}},
  language     = {{eng}},
  number       = {{4}},
  pages        = {{506--550}},
  title        = {{Business model innovation in circular start-ups : overcoming barriers in the circular plastics economy}},
  url          = {{http://doi.org/10.1177/02662426231217954}},
  volume       = {{42}},
  year         = {{2024}},
}
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