Guest column

Houston expert shares tip for developing a circular economy within your company's tech

Building a circular economy for electronics requires attention to detail in the areas of design, buyback, or return systems, advanced recycling and recapturing, durability and repair, and urban mining. Christina Morillo/Pexels

Many organizations are interested in building a circular economy into their business model but aren't sure what steps to take to achieve this goal. I've worked in the technology industry for over 20 years, helping customers across all industries navigate the processes of buyback, recycling, and repair in order to create sustainable and profitable solutions to reduce e-waste.

The world produces 40 million tons of e-waste annually, and only 20 percent of that is being disposed of properly. A circular economy is a system in which all materials and components are kept at their highest value and where e-waste is essentially designed out of the system.

Building a circular economy for electronics requires attention to detail in the areas of design, buyback, or return systems, advanced recycling and recapturing, durability and repair, and urban mining.

Below, I'll discuss some key building blocks for implementing an effective and efficient circular economy.

Invest in technology that will last

Longevity is essential to maintaining sustainable products, and that is easily achievable through repair and refurbishment services. Upgrading or reworking existing equipment can save you time and money by enhancing its marketability or extending its useful life.

Rework service providers can replace components inside servers or PCs and rebuild them with new parts to meet your requirements. These services can boost your operations' speed or improve your servers' or PCs' performance through upgrading, while also saving your organization money by not having to purchase all-new equipment.

Recover value through the secondary market

When equipment must be replaced or retired, many electronic devices can be remarketed, either as whole products or individual parts. This system not only keeps electronics in use and out of landfills — it can also serve as an additional revenue stream for your organization.

Finding the right IT asset disposition partner is crucial for maximizing your return on investment. It can pay dividends to provide high-exposure opportunities to a vast network of customers through a mix of online sales, e-commerce tools, and inside sales when selling your retired equipment.

Utilize advanced recycling and recapturing programs

Retired electronics that are not remarketable can be collected and have their components reintegrated into new products, creating a closed-loop production system. ITAD partners who are certified to recognized green standards, such as R2 or e-Stewards, can ensure that IT equipment that no longer has value will be responsibly recycled.

No matter what industry you're in, a qualified ITAD partner can help optimize your organization and support your goals. From data centers to server rooms and beyond, sustainable solutions are available to manage the equipment you need to retire in compliance with all regulatory guidelines.

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Ed Wooten is Smith's director of ITAD, or IT asset disposition.

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Auburn University's SwiftSku took first place in this year's virtually held Rice Business Plan Competition, but it was the second place company that went home with over half a million in cash and investment prizes. Photo via rice.edu

In its 21st year, the Rice Business Plan Competition hosted 54 student-founded startups from all over the world — its largest batch of companies to date — and doled out over $1.4 million in cash and investment prizes at the week-long virtual competition.

RBPC, which is put on by the Rice Alliance for Technology and Entrepreneurship, took place Tuesday, April 6, to Friday, April 9 this year. Just like 2020, RBPC was virtually held. The competition announced the 54 participating startups last month, and coordinated the annual elevator pitches, a semi-finals round, wildcard round and live final pitches. The contestants also received virtual networking and mentoring.

Earlier this week, Rice Alliance announced the seven student-led startups that then competed in the finals. From this pack, the judges awarded the top prizes. Here's how the finalists placed and what won:

  • SwiftSku from Auburn University, point of sales technology for convenience stores that allows for real time analytics, won first place and claimed the $350,000 grand prize from Goose Capital. The company also won the $50,000 Business Angel Minority Association Prize, the $500 Best Digital Elevator Pitch Prize from Mercury Fund, and the $500 Third Place Anbarci Family People's Choice prize, bringing the company's grand total in cash and investment prizes to $401,000. The company also won the CFO Consulting Prize, a $25,000 in-kind award.
  • AgZen from the Massachusetts Institute of Technology, a pesticide alternative spray and formulation technology company, won the second place $100,000 investment prize (awarded by Finger Interests, Anderson Family Fund, Greg Novak, and Tracy Druce). The startup also won a $300,000 Owl Investment Prize, the $100,000 Houston Angel Network Prize, the $500 Best Energy Elevator Pitch Prize from Mercury Fund, and the $1,500 Third Place Anbarci Family People's Choice prize, bringing the company's grand total in cash and investment prizes to $502,000. The company also won the $30,000 in-kind Polsinelli Energy Prize.
  • FibreCoat GmbH from RWTH Aachen University, a startup with patented spinning technology for the production of inexpensive high-performance composite fibers, won the third place $50,000 investment prize (also awarded by Finger Interests, Anderson Family Fund, Greg Novak, and Tracy Druce). The company also won the $100,000 TiE Houston Angels Prize and the $500 Best Hard Tech Elevator Pitch Prize from Mercury Fund, bringing the company's grand total in cash and investment prizes to $150,500.
  • Candelytics from Harvard University, a startup building the digital infrastructure for 3-D data, won the fourth place $5,000 prize.
  • OYA FEMTECH Apparel from UCLA, an athletic wear company that designs feminine health-focused clothing, won the fifth place $5,000 prize. The company also won the $5,000 Eagle Investors Prize, the $25,000 Urban Capital Network Prize, and the $1,000 Second Place Anbarci Family People's Choice prize, bringing the company's grand total in cash and investment prizes to $36,000.
  • LFAnt Medical from McGill University , an innovative and tech-backed STI testing company, won the sixth place $5,000 prize and the $20,000 Johnson and Johnson Innovation Prize, bringing the company's grand total in cash and investment prizes to $25,000.
  • SimpL from the University of Pittsburgh, an AI-backed fitness software company, won the seventh place $5,000 prize. The company also won the $25,000 Spirit of Entrepreneurship Prize from the Pearland Economic Development Corp., bringing the company's grand total in cash and investment prizes to $30,000.

Some of the competition's participating startups outside of the seven finalists won monetary and in-kind prizes. Here's a list of those.

  • Mercury Fund's Elevator Pitch Prizes also included:
    • Best Life Science $500 Prize to Blue Comet Medical Solutions from Northwestern University
    • Best Consumer $500 Prize to EasyFlo from the University of New Mexico
    • Best Overall $1,000 prize to Anthro Energy from Stanford University
  • The Palo Alto Software Outstanding LivePlan Pitch $3,000 Prize went to LiRA Inc. from the University of North Carolina at Chapel Hill
  • The OFW Law FDA Regulatory Strategy Prize, a $20,000 in-kind award went to Paldara Inc. from Oklahoma State University.
  • The Silver Fox Mentoring Prize, which included $20,000 in kind prizes to three winners selected Ai-Ris from Texas A&M University, BruxAway from the University of Texas, and Karkinex from Rice University as recipients.
  • The first, second, and third place winners also each received the legal service prize from Baker Botts for a total of $20,000 in-kind award.
  • The Courageous Women Entrepreneurship Prize from nCourage — a $50,000 investment prize — went to Shelly Xu Design from Harvard University.
  • The SWPDC Pediatric Device Prize — usually a $50,000 investment divided its prize to two winners to receive $25,000 each
    • Blue Comet Medical Solutions from Northwestern University
    • Neurava from Purdue University
  • TMC Innovation Healthcare Prize awarded a $100,000 investment prize and admission into its accelerator to ArchGuard from Duke University
  • The Artemis Fund awarded its $100,000 investment prize to Kit Switch from Stanford University
The awards program concluded with a plan to host the 22nd annual awards in 2022 in person.

If you missed the virtual programming, each event was hosted live on YouTube and the videos are now available on the Rice Alliance's page.

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