Green Entrepreneurship: Money and Scope
What's the scope for environment-friendly entrepreneurial businesses in India and abroad?
In the last few years, awareness of environmental and societal concerns has grown so rapidly, that green businesses are becoming more and more mainstream. Consumer preferences are changing. They want products and services which they perceive as being eco-friendly. Venture capitalists are looking to fund ideas which look at solutions to make the planet a better place. Some years ago one might have said that these opportunities exist only in developed countries, but today, the developing countries have leapfrogged into a time when green businesses are growing rapidly in scope.
How do green entrepreneurs contribute towards the cause of the environment?
Whether you consider solar energy technology ventures, wind turbine manufacturers, jatropha farms or eco-tourism ventures, the entrepreneurs who are investing their talent, expertise and effort, are all contributing towards the cause of the environment. They are entrepreneurs who are pursuing a business keeping in mind the fact that we cannot strip the planet of its natural resources without giving back to it. Each venture might contribute differently, but what is clear is that they are transforming the way we look at businesses and are bringing in all-important aspects of sustainability into profit-making.
What academic qualifications would one require?
Any degree which has built-in elements of ecological and societal issues, and which addresses elements of sustainable development in a multidisciplinary manner would give a potential green entrepreneur the grounding he needs. It's important that the academic programme creates a thought process which triggers green ideas.
What are the subjects that one should take up in high school?
A few years ago I might have said that science subjects would lead to green ideas. This is not so anymore. Transformation is taking place across layers of the society. Green solutions to the problems of the world are not just technical solutions but other things too. A good example would be those who have gone in for eco-tourism, where tourists are made to understand the ecological footprints they are creating, which is harmful for the planet, and how they could find ways to reduce it. Almost every subject stream is moving towards incorporating courses which make students more aware of environmental, social and economic problems.
How much of capital does one require for a green venture?
That might vary from idea to idea, and from business to business. But the bottom line is that there is money available to fund green ideas which could evolve into green businesses.
The mindset one should have?
I would say that there would be three types of green entrepreneurs:
Passion driven - those with a huge urge to drive or take part in the sustainability transformation process
Need driven - where the lack of or the high cost of resources drives one to look for alternate resources, eg. renewable energy as a source for electricity, because of the non-availability of grid supply.
Money driven - where the entrepreneur realises that profits can be made from a green solution.
Author: Ayesha Banerjee (HT Horizons)
Date: 10th December, 2010
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