Context: The Atal Innovation Mission (AIM) will organise  a two-day hackathon on circular economy, ‘India–Australia Circular Economy Hackathon (I-ACE)’  in association with CSIRO on 7th and 8th December 2020.

About India–Australia Circular Economy Hackathon (I-ACE)

• It is a joint initiative of AIM (Atal Innovation Mission) and Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO).
• The idea of I-ACE was conceived during a virtual summit between the Indian and Australian prime ministers, exploring innovative ways to boost circular economy in India and Australia.
• I-ACE will focus on identification and development of innovative technology solutions by bright-minded students, startups and MSMEs of both nations.

Purpose

• The primary purpose of the hackathon to address the circular economy challenge. It will create possible solutions for eliminating waste and reusing waste. 
• This will make the economy less resource intensive and will ensure that the economic growth is ecologically compatible.

The four key themes for the hackathon are as follows

• Innovation in packaging reducing packaging waste
• Innovation in food supply chains avoiding waste
• Creating opportunities for plastic waste reduction
• Recycling critical energy metals and e-waste

Concept of Circular Economy

• Meaning: It is an economy where products are designed for durability, reuse and recyclability and thus almost everything gets reused, remanufactured, and recycled into a raw material or used as a source of energy.
• Efficient Use of Resources: It includes 3 R’s (Reduce, Reuse and Recycle), Refurbishment, Recover, and Repairing of materials.

Example: If a person is planning to discard his/her mobile, it can be given to someone else (i.e. giving the mobile second life-Reuse), rather than throwing it just like that.

• Once the mobile reaches its end of life, it can be ensured that everything embedded in it, aluminum, copper, plastic etc. should be brought back to production cycle so that the circle of the economy gets completed.
• Response to the Linear Process: Many countries follow a linear process in which raw materials are taken from the environment, turned into new products which are then disposed of after use.

Benefits
For Industry:

• Fulfills the need for raw materials: The output produced by industries in a circular economy comes back to the industries in the form of input, for example, when parts of a mobile will be segregated, copper and aluminum will become raw materials for some industries.
• Efficient utilization of resources: This helps industries in earning cash profits equivalent to 3-5% of their turnover. Ultimately, QCDF (Quality, Cost, Delivery, and Flexibility) and sustainability level of industries get improved.

For Environment

• Problem of disposal of waste gets solved as in a circular economy, waste is converted into raw materials.
• Also solves the problem of air pollution, water pollution, and land pollution.

For Consumers

• Cost-Effective: The products in the circular economy are more cost effective for consumers as they tend to be more efficient, besides having a longer shelf life.
• Efficient Products: Increased Efficiency leads to a reduction in the cost of maintenance as well as that of disposal, which otherwise a consumer has to incur in a huge amount.

Road Ahead

• India and Australia have a strong and productive bilateral partnership. Both the countries are collaborating across a broad range of areas which have yielded significant results. 
• India and Australia in future can align research and developmental efforts in order to achieve more. 
• The circular economy model will provide more jobs and higher economic growth in the long run. It will further reduce cost and drive innovation. It will also drive significant environmental benefits.