Library of Things: The £1 million Contract for Circular Economy Outcomes
Lead Participant:
LIBRARY OF THINGS
Abstract
**About Library of Things**
Co-founded by Emma Shaw, Rebecca Trevalyan and Sophia Wyatt, this women-led social enterprise helps people save money and reduce waste by affordably renting 50 quality DIY & entertainment products like Bosch drills, Stihl strimmers and Brother sewing machines from self-serve product rental kiosks in urban hubs.
How it works:
1. Hear about LoT via friend referral/press/social media/walking by
2. Browse web app/reserve products, pay-per-day
3. Collect/return products from local kiosk
**Vision**
In 2025, LoT has enabled one million urban residents to affordably access products they need to improve their homes, lives and environment. Its innovative product rental service is now active in 5 UK cities beyond London, working with communities, product manufacturers, retailers/landlords and local governments, Together, we have unlocked a new, 'circular' model of consumerism where borrowing is better than buying -- more affordable/convenient for individuals, more rewarding for communities and kinder to the planet.
**Innovation**
As the first and only product rental kiosk operator in the world, LoT can disrupt the retail market from purchase to rental. This project will help LoT compete with wasteful consumerism, but accelerating its journey to scale to more people across core UK cities.
**Business need**
Whilst LoT is operational and growing its sites in London, and despite having 300+ expressions of interest from residents/ businesses/ local governments to scale to other UK cities, LoT's sales funding pipeline beyond London is not secured and its contracting process can be complex.
**Project:The £1 million Contract for Circular Economy Outcomes**
To launch 100 kiosks by 2025, LoT needs to simplify and secure multi-city, multi-site commissioning contracts worth £1 million. LoT will create a Circular Economy Outcomes Contract/toolkit for commissioning organisations to quickly engage, procure, and provide access to sites to host LoT kiosks in their cities. This is expected to be the first contract of its kind dedicated to circular economy innovation/outcomes.
**Objectives/focus**
The toolkit will comprise of three key outputs a one key deliverable:
1. "Proposition" -- an interactive sales process to share/ quantify business case with commissioners
2. "Impact Model" -- shareable, evidenced finance-impact model -- valuing benefits/outcomes with projected pay-back
3. "Contract" -- simple, template agreement with customisable modules, integrated with financial systems
**Impact**
With £50,000 funding and tailored advice/support, LoT will be able to:
* Unlock £1 million pipeline to bring LoT to 5 more cities beyond by 2025
* Create innovation/ wider benefits, catalysing a movement of circular/sharing models across eg. food, transport
Co-founded by Emma Shaw, Rebecca Trevalyan and Sophia Wyatt, this women-led social enterprise helps people save money and reduce waste by affordably renting 50 quality DIY & entertainment products like Bosch drills, Stihl strimmers and Brother sewing machines from self-serve product rental kiosks in urban hubs.
How it works:
1. Hear about LoT via friend referral/press/social media/walking by
2. Browse web app/reserve products, pay-per-day
3. Collect/return products from local kiosk
**Vision**
In 2025, LoT has enabled one million urban residents to affordably access products they need to improve their homes, lives and environment. Its innovative product rental service is now active in 5 UK cities beyond London, working with communities, product manufacturers, retailers/landlords and local governments, Together, we have unlocked a new, 'circular' model of consumerism where borrowing is better than buying -- more affordable/convenient for individuals, more rewarding for communities and kinder to the planet.
**Innovation**
As the first and only product rental kiosk operator in the world, LoT can disrupt the retail market from purchase to rental. This project will help LoT compete with wasteful consumerism, but accelerating its journey to scale to more people across core UK cities.
**Business need**
Whilst LoT is operational and growing its sites in London, and despite having 300+ expressions of interest from residents/ businesses/ local governments to scale to other UK cities, LoT's sales funding pipeline beyond London is not secured and its contracting process can be complex.
**Project:The £1 million Contract for Circular Economy Outcomes**
To launch 100 kiosks by 2025, LoT needs to simplify and secure multi-city, multi-site commissioning contracts worth £1 million. LoT will create a Circular Economy Outcomes Contract/toolkit for commissioning organisations to quickly engage, procure, and provide access to sites to host LoT kiosks in their cities. This is expected to be the first contract of its kind dedicated to circular economy innovation/outcomes.
**Objectives/focus**
The toolkit will comprise of three key outputs a one key deliverable:
1. "Proposition" -- an interactive sales process to share/ quantify business case with commissioners
2. "Impact Model" -- shareable, evidenced finance-impact model -- valuing benefits/outcomes with projected pay-back
3. "Contract" -- simple, template agreement with customisable modules, integrated with financial systems
**Impact**
With £50,000 funding and tailored advice/support, LoT will be able to:
* Unlock £1 million pipeline to bring LoT to 5 more cities beyond by 2025
* Create innovation/ wider benefits, catalysing a movement of circular/sharing models across eg. food, transport
Lead Participant | Project Cost | Grant Offer |
|---|---|---|
Participant |
||
| LIBRARY OF THINGS |
People |
ORCID iD |
| Emma Shaw (Project Manager) |