The circular economy model is one that maximizes value and eliminates waste by improving (and in some cases transforming) how goods and services are designed, manufactured and used. Some key circular economy approaches include circular supply-chains; recovery, reuse, and recycling of resources; product life extension; new business models (eg. sharing platforms and service leases) for more efficient use of goods and capital assets; and deep technological innovations.

With this initiative, Smart Prosperity Institute defines the key components of circular economy, considers the opportunities for business competitiveness, and evaluates the policy tools for accelerating the transition.