“…A circular EE relies on multi-stakeholder collaborations across supply chains and promoting the circulation of products and materials (Farooque et al, 2019; Govindan and Hasanagic, 2018), fostering entrepreneurial activities that can lead to sustainability outcomes (Bischoff and Volkmann, 2018; Castro Oliveira et al, 2021; Fernandes and Ferreira, 2022; Raposo et al, 2021). At the micro-level, circular start-ups are driven by environmental and economic values (Henry et al, 2023) and even socially sustainable values (Suchek et al, 2022); they adopt the rationale of a circular business model from inception (Ferasso et al, 2020; Geissdoerfer et al, 2020) and advance transitioning towards a CE system by closing product or material loops (Ferreira and Dabic, 2022; Henry et al, 2020). CE business models include processes and strategies by which firms create, deliver and capture sustainable values (Centobelli et al, 2020; Urbinati et al, 2017), experiments with circularity (Bocken et al, 2017), enact bioeconomy innovations (Donner and de Vries, 2021) and adopt contextual approaches (Daňo et al, 2020).…”