Ecopreneurship Features, Companies: Who is an Ecopreneur?: The word “Eco” related to the Greek word “Eikos” which means home and it functions on the environment as well as surroundings. Ecopreneruship is a portmanteau word, created with the combination of ecological and entrepreneurship. This new stream focuses on all realms of the environment and how to preserve the different natural resources. This concept relies on three pillars such as innovation, sustainability on a long term and care for the surrounding.
Who is an Ecopreneur?
Moreover, an ecopreneur is a person who avails services, goods and technology which is environment-friendly and can be easily recycled as well as organic. The term is gaining popularity day by day as people and organizations become more conscious about the degradation of the environment caused by other large scale industries that are responsible for contamination in the atmosphere. However, the concern of an ecopreneur is related to humanity and then, the primary motive would be to earn the profit. But the preference gives to serve mankind and also, the availability of the natural resources for the upcoming generation. But now, large companies are also concerned about the innovative concept of Ecopreneurship as it is a smart way of gaining benefits for a long span of time.
Also See: Scalable Startup Entrepreneurship: Definition and Examples
What are the driving forces behind Ecopreneurship?
- Growth of Global Population: It is well-known fact that the land and resources are limited now and it is vital to make it sure that the availability of resources must be sufficient, not only to meet the requirements of the current generation but also the next generation. Hence, it is the responsibility of the ecopreneurs to jot down some beneficial ways how to conserve energy, resources and various materials by enhancing some new innovative and advanced technologies. Moreover, there is a need to control the birth rate and finding measures to fulfil the need for bread and butter as well as shelter for the growing population. It also makes the possibility of sustainability.
- Increase in life expectancy: The life of whole mankind is the main motive of Ecopreneurs, not only their Kith and Kin’s life. They want to live a healthy and long life for everyone, so they illustrate some distinctive ways to grow life expectancy like organic food, water should be purified and so on.
- Change in Climate: Our lives on the earth planet are highly affected by numerous changes in the climate and it impacts badly. The way we work, study and play adversely affects climate change. To exemplify, the air gets polluted because of the usage of fossil fuels which have negative impacts on the climate and weather. In order to prevent the climate, various different alternatives finding by the ecopreneurs to produce the energy like solar, wind and water.
- Less availability of resources: A great issue is the decline of natural resources as the resources are decreasing day by day. It is not possible to sustain without natural resources. So, for saving such resources, ecopreneurs find some of the innovative ways to recycle the resources or opt for the cheaper one and richly available resources if possible.
- Less equality: The world is divided into two different parts which include one part which has availability of all the necessary resources such as better quality of food, water and shelter. Whereas the other part comprises of mankind who do not have enough resources to live. Here, the aim of ecopreneur is to avail the resources among humanity in equal proportion and try to provide the basic amenities. Moreover, they also ensure that all the living beings treated equally on the planet and no one away from anything. In addition to this, these people are also members of some famous movements like WTO (World Trade Organization) and also find some advanced ways to manufacture affordable products that everyone can easily afford. Besides this, they also do charity and donations to destitute people of society.
Also See: Social Entrepreneurship: Definition and Examples
There are four principles on the basis of which ecopreneurs can take competitive advantage of green issues. These four principles of Ecopreneurship are known as Natural Step Principles which are as follows:
- Energy and Resource use efficiency and maximization: Here, the motive is to design the materials of the economy again and increasing the reuse of waste products to increase the profits margin.
- Ecosystem Services: These are the services that are related to the prevention and protection of Ecosystem and Natural resources. Moreover, the prevention of degradation of the environment can be another pickup for a green business by the ecopreneurs.
- Natural Step Principle: There are some major risks for ecopreneurs such loss of substances extracted from the crust of Earth and overharvesting, etc as the chances of success increases through the green business.
- Eco-efficiency and eco-effectiveness: The first and foremost motive is to uncover the approaches through which wastage decreases and productivity grows. It can be the method of manufacturing or usage of raw material for a new product or services.
There are umpteen companies that have a competitive advantage by engaging in the field of green business and some of the top industries are Coca-Cola and P&G. Such companies are concerned about natural resources and also the protection of the environment. By consider the Ecopreneurship, the companies can gain high profit and also protect environmental resources.
