19 tons of plastic enter the ocean every minute, less than 10% of the plastic produced is recycled, and 80% of marine pollution comes from coastal cities in the poorest countries. Faced with this observation, the teams of Plastic Odyssey decided to take action by organizing a round-the-world expedition on their ambassador ship. The goal? To build a global network of local plastic recycling initiatives. On board their ship, sorting, recycling, and pyrolysis technologies are made available to entrepreneurs to help them recover waste.

Alongside this expedition, the project's crew members launched their "Plastic Odyssey Lab" (PO LAB) acceleration program to provide skills training to recycling entrepreneurs. Following an initial call for projects in France, six successful candidates were able to join the ambassador ship in July 2021.

On the program:

• Technical support from Plastic Odyssey engineers, which allows the winners to test their manufacturing processes using on-board recycling machines
• Entrepreneurial support provided by the Crédit Agricole group via the Grameen Crédit Agricole Foundation and the Regional Banks.

Drawing on its expertise in promoting impactful entrepreneurship, the Foundation has specifically designed training modules for the PO LAB winners, all startups:

" We first analyzed the winners' projects and needs, most of them well in advance of their entrepreneurial adventure. In particular, we helped them develop an impact business plan, or, for the most advanced, to specify possible technical and financial partnerships in the impact sector. We also needed to analyze the needs that the PO LAB could meet during their incubation. Once their needs were identified, we sought out the best experts in the Crédit Agricole Regional Banks (CRCAs) linked to the winners' regions. During the PO LAB, the winners benefited from individual sessions with each expert from the CRCAs and Village by CA, on topics such as marketing, human resources, and local financing. In addition, group sessions were organized with the Foundation on the financial structure and strategy of an impact company and the specific nature of fundraising for impact startups. » – Céline Hyon-Naudin, Social Business Investment Officer, Grameen Crédit Agricole Foundation

Once the PO LAB is completed, the Foundation continues its entrepreneurial support for the winners by organizing a new training session in Marseille this fall:

" Individual sessions on specific themes are planned after the PO LAB with the Foundation, to give the winners time to integrate their technical tests into their entrepreneurial project. We are currently working on these modules and the following issues could be addressed, for example: Which business model should be chosen (NGO, ESUS, SAS)? Which product strategy should be adopted to best meet the identified social and environmental needs? How to organize logistics flows (waste supply, inventory management, distribution of finished products)? » – Céline Hyon-Naudin

The boat is currently moored in Dunkirk, and the Plastic Odyssey teams plan to launch their Mediterranean expedition in late fall 2021. Other PO LAB sessions are planned in countries around the Mediterranean. In Egypt and Morocco, Crédit Agricole Group networks are also mobilized to support this acceleration program. This is a fine example of the Crédit Agricole Group's collective commitment, in line with the Societal Project.

 

Learn more about Crédit Agricole's support with Plastic Odyssey.