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Down But Hopefully Not Out


The recent news of @Renewcell decision to file for bankruptcy has been heartbreaking for everyone with a love for innovative forward thinking inventions like this. Waste limitation is important for a cleaner environment, but sometimes you need to balance the finances with the outcome and realise when to hit the stop button.


If you're making a financial loss, it doesn’t make sense to carry on. I’ve been listening to @thediaryofaceo with Steven Bartlett and @howtofail with Elizabeth Day, both of which have numerous interviews with professionals who believe in failing fast, learning quick, starting again with clearer insight into what went wrong and what went right, and how to rise from the ashes.


I have no doubt that the team at Renewcell have some critical learnings from the experience. As they shared in their official statement, the company had struggled with “Long term financing solutions” despite strong interest in their recycled textile pulp. Raising additional capital proved difficult in this time of economic uncertainty.


While it’s sad (and I’m truly gutted), this story is common for trailblazing startups. Renewcell has been a pioneer in textile recycling technology since their founding in 2012. Their process breaks down used cotton and viscose into biodegradable pulp to produce new fabrics. Their innovation attracted partners like H&M, Levi’s, and Bestseller, however, scaling up operations while staying financially viable can be a challenge. This break will allow Renewcell to step back, reorganise, give ideas another go and use the critical learnings to return even stronger (fingers crossed), fail fast, come back stronger…



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