Market Overview

Rev1 Ventures and the Solid Waste Authority of Central Ohio Team Up to Fuel Startups Innovating Food Waste Reduction

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COLUMBUS, Ohio, Oct. 13, 2020 /PRNewswire-PRWeb/ -- Today, Rev1 Ventures, the startup studio that combines capital and strategic services, and the Solid Waste Authority of Central Ohio (SWACO), whose mission it is to improve Central Ohio's solid waste stream through effective reduction, recycling, and safe disposal, announced a new partnership to support startups and innovators.

Every year, more than a million tons of material enters Franklin County landfills - and 76 percent of this material has the potential to be diverted through reuse, recycling, or composting. Rev1 Ventures and SWACO will focus on advancing new technologies in food waste and waste management while connecting entrepreneurs with financial and strategic resources to promote new approaches and propel startups in Central Ohio.

"We recognize that in order to revolutionize the way food waste is reduced and managed, we must tap our community of innovators," said Ty Marsh, Executive Director at SWACO. "By aligning with Rev1 Ventures, we're able to more clearly identify and support the startups that will make a difference, so that we can pilot new technologies, support long-term growth and ultimately, help accelerate this much needed field while leveraging the Central Ohio waste stream for continued economic opportunity."

Rev1 and SWACO will connect the nearly 400 municipalities, food manufacturers, commercial retailers & kitchens in the Central Ohio region with entrepreneurs focused on food waste prevention, rescue, and recycling. While the food waste initiative is the focus for the first phase of the partnership, the goal is to evolve into a broader approach that supports startups innovating the entire waste and recycling industry.

This partnership comes on the heels of SWACO's newly launched consumer educational campaign, "Save More Than Food," which makes resources available to individuals and commercial partners who want to reduce waste either at home, at school, or in their restaurant.

"SWACO is at the forefront of sustainability, and food waste is a critical sector to tackle. We understand the value entrepreneurs will bring to their mission," said Tom Walker, CEO of Rev1 Ventures. "As with all of our innovation partners, SWACO shares our commitment to supporting innovation by helping startups through access to expert advisors, insights into market needs and the ability to pilot technologies within real-world environments."

Rev1's impressive and growing list of innovation partners includes Grange Insurance, State Auto Insurance Companies, The Ohio State University, The J.M. Smucker Company, and more. For more information, visit http://www.rev1ventures.com/SWACOInnovation.

About Rev1 Ventures
Rev1 Ventures is the startup studio that combines capital and strategic services to help startups scale and corporates innovate. Based in the Midwest, and in the number one city for scaling startups, Rev1 aligns innovators and founders with corporate and research partners to access customers and markets, helping entrepreneurs build great companies. With a proven track record of identifying, guiding, and investing in high potential startups, Rev1 helps companies solve real problems for markets in need of real solutions. Rev1 has $100MM in capital under management, providing a capital continuum from corporate and community partners, as well as the Ohio Third Frontier. Rev1 is the most active seed investor in Ohio for the past six years, according to PitchBook. For more information, visit http://www.rev1ventures.com.

About the Solid Waste Authority of Central Ohio (SWACO)
Located in the Columbus region, SWACO is guided by the principal to leverage the waste stream for the environmental and economic benefit of the residents, businesses and 41 municipalities it serves. As the only Solid Waste Authority in Ohio to own and operate a municipal solid waste landfill, SWACO receives a dedicated stream of materials - over a million tons a year which have an estimated value of $23 million. In order to divert these materials away from the landfill and catalyze the waste stream for job creation and to support reuse and recycling-reliant businesses, SWACO partners with local, state and national partners. With a current diversion rate of 50% - which exceeds the national average - SWACO and the Central Ohio region have a goal to cut food waste in half over the next 10 years and reach 75% diversion of all materials away from the landfill by 2032. For more information, visit https://www.swaco.org/.

 

SOURCE Rev1 Ventures

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