Plastic Bank - Turning one man's trash into another mans treasure
by Startacus Admin
Now for one of those great win/win/win ideas that we're so fond of here at Startacus... and this time its a really good one
Vancouver man David Katz has had a marvelous brainwave which has the potential to sort out a number of concerning issues which are particularly prevalent within less economically developed nations. He has devised a system designed to remove plastic waste from the world’s oceans, beaches and waterways while simultaneously empowering people in poverty to raise their standard of living… but just how does he plan to do all this?
Well… David is the founder (and self-styled ‘Chief, cook and bottle-washer’) of shiny new organization Plastic Bank which has embarked upon the mighty challenge of turning waste plastic (bottles, containers and such) into a form of currency. Starting with the Peruvian coastal capital Lima, David and his team are setting about establishing strategically placed plastic banks in impoverished areas of the world where locals can exchange plastic which they have gathered for a range of useful items and services. The plan is that the plastic will be traded in return for education and credits that can be used for the printing of 3D products, repurposed necessities and/or micro-finance loans.
“But hang on one bottle-picking-minute here… where is the money for the scheme going to come from? Surely waste plastic doesn’t actually have any value?”
Well, it would seem that it does... so much so that Plastic Bank has placed “revealing the value of plastic waste” as their chief mission. Once people have deposited their plastic the organization will recycle the material within the local site or (if this is not possible) ship it to another plant where the process could be carried out. David reckons that local people will be able to receive goods up to the value of 25c per lb of waste plastic that they collect- a figure which has been pushed up by the very concept of Plastic Bank itself.
(This is the really clever bit) - David has recently received confirmation of a contract with a major corporation who have agreed to purchase his recycled plastic. It seems that they have identified the enormous PR benefits that manufacturing products from plastic that was reclaimed from the sea by disadvantaged people would have and are willing to pay a premium for it.
As well as allowing the gatherers to turn the plastic they have collected into every-day necessities the centres will also have a strong focus on education and training so that the waste collectors can scale up their efforts and perhaps even start their own recycling facilities.
“A major focus will be on educating and empowering local people to reveal the value in themselves and to see the value in transforming repurposable plastics into necessities and entrepreneurial opportunities. Additional efforts will go towards community collection projects that raise the overall standard of living in host communities.”- Plastic Bank
The first of the plastic banks is set for opening later this year and if all goes well it won’t be long before David and his team are setting up shop in Colombia, The Philippines and Indonesia.
Needless to say we think this is a downright smashing idea and look forward to featuring Plastic Bank again as they spread across the world!
If you liked reading about this socially innovative organisation then we reckon you will love some of these…
GrowUp! Eco-friendly urban farming
Manchester Veg People - A new practise in fresh produce
Creative Mornings - A local idea goes global
Join Startacus - the Self Start Society!
If you like what you see here on Startacus, why not become a member of our growing community? It's free! And you'll get all this - exclusive access to our Business Toolkit, discounts and offers galore for your business via our member only business deals, the chance to network and connect with loads of fellow self-starters, and maybe even become our celebrated 'Self-Starter of the Week' and tell the world your startup tale! Join right here for free
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Innovative project launched by UK Proptech startup to reduce workers' commuting and in turn help alleviate pollution and congestion
Startup funding is never easy, however here are a few of the options that can help you fund your startup without going broke in the process
Innovative startups are currently being sought by BMW Group Financial Services UK which has just launched the third instalment of its Innovation Lab
Starting a business can be a lot of hard work, so here's a few ways to avoid burnout and find a healthy work life balance.
The child health app on a mission to become the first nationwide digital redbook, just got a step closer to making their mission a reality...
The Cambridge-based startup that has created an empowering tool to drive the next wave of biological innovation
At one-day event Ideation NI Thon, students will get the chance to solve global and local sustainability, environmental, city and health problems.
NI startup ESTHER, a peer-2-peer giving platform allowing charitable donors to give money directly to people living in poverty, head to New York for a 4-day fact finding mission.
The lowdown on how an Australian startup generated global sales for their innovative product, "weighted blankets"...
At 82% the UK takes 4th place in the list of countries being most ready for automation and robotics, whilst 30% of UK population’s jobs are at risk of automation.
Published on: 24th February 2014
.png)
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Ideation NI Thon at NI Science Festival sets out to solve global issues 17th Jan 2020 At one-day event Ideation NI Thon, students will get the chance to solve global and local sustainability, environmental, city and health problems.
- NI startup ESTHER takes flight to New York 16th Jan 2020 NI startup ESTHER, a peer-2-peer giving platform allowing charitable donors to give money directly to people living in poverty, head to New York for a 4-day fact finding mission.
- 2019 stats show that the gender pay gap continues 14th Jan 2020 Recent research by Starling bank shows that in 2019, women earned up to £12,319 less per year than their male colleagues of the same age and within the same industry
- Digital DNA Awards 2020 nominations now open 13th Jan 2020 The Digital DNA Awards, held in partnership with MCS Group, celebrate the best tech talent, from companies of all sizes, excelling in the world of Digital and Tech and not just in NI...
