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Green Business Ideas: How can startups help save our environment?

Introduction

Through the means of an extensive digital and technical revolution that has gradually permeated into the fledging entrepreneurial scene, which has slowly but steadily churned dollar billionaires and unicorn start-ups, the push for green tech and establishing corporate responsibility towards ecological subsistence is becoming the norm, either through the means of capitalising upon the opportunities arising from the grave and real risks of environmental degradation by innovative technologies that aim to nullify the effects of conventional methods of energy generation and consumption dealing with a variety of issues ranging from air purification, water filtration, desalination of cultivable soil, afforestation, etc. or through sector-disruptive techniques focused on shifting patterns of resources dependence and extraction towards a more renewable future, via large scale adoption of the latest of solar, hydro, wind, and associated sources of energy synthesis on an individual consumer and micro-level basis. These methods, in tandem with cooperation of a eco-sensitive governmental initiative and large companies, shall provide a dual-pronged approach towards the ultimate fulfilment of making commercial concerns commensurate with their duties of maintaining green businesses.

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A Start-up's Role

The utility of start-ups in the corporate sustainability movement is distinctly that of a vanguard, in that their comparatively smaller scope and capital enables them to undertake quick-decision making and take first-mover advantage on developing opportunities arising in the market, as the inertia and compliancy typically depicted by large companies in the frame of 'business as usual' gravely prohibits them from displaying dynamism in their actions, thereby enabling the former constituent initiatives to individually strife for conservatism as a foundational objective whose cumulative effects in correcting ecological malpractices shall effectively aggregate to an extent far greater than just a mega corporation's gradual transition to a greener era. This is supported by the knowledge that start-ups are high growth prospects, and if managed appropriately, can be an exemplary representation against pre-conceived notions that presume that business and social responsibility are counterintuitive, but are now, in fact, complementary.

 

Changing perceptions

Despite conservative investors' reluctant sentiments in indulging and trusting Green tech., an idea still in its infancy, with established instances and case studies of angel funds parked in novel progressive companies failing to become cash positive before wrapping operations, it has fortunately not deterred bootstrapping from entrepreneurs, coming up with minimum viable products and prototypes emphasising on the social marketing philosophy of production, i.e., maximising consumer satisfaction in the utility of their products while also subordinating long-term eco-societal issues in their process of their marketing management, with a shift in business administration standards and attitudes in regards to an organisation's roles and ethical accountability in the preservation of a common global ecosystem, a thought which has been championed by the latest generation of managers and leaders.

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Brand positioning

Furthermore, the implementation of new eco-sensitive techniques can't be brought about consumer involvement, with Green Inc. focusing on taking maximalist approach in appealing at the grassroots levels, establishing their social and brand identities on carbon-neutrality, ethical conduct regarding environmental protection guidelines, shifting to organically sourced resource extraction, as well as with principles of social justice, fair wages, and egalitarian human resource management policies to pivot their public relations to attract and tap into a nascent growing market of environmentally-conscious customers and retailers who are willing to shoulder and incur the increased costs arising from such far-thinking operations, as seen in the continually  expanding demand for organic farm produce, despite its inflationary trends over the last few years.

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Financial Accountability

However, the imperative lies on the financial and accounting departments of such start-ups to  modify their profit-maximising stance by looking beyond their economic or organisational concerns to the concept of the Triple Bottom Line (TBL) approach, which is more conductive to modern business in that not only recognises profitability and growth but social requirements, i.e., employee welfare and self-actualisation, and environmental demands, prioritising minimising of resources wastage and its subsequent safe disposal. Therefore, adoption of accounting standards and business models along the veins of such an objective, alongside legal transparency, third-party auditing,  and an emphasis on fair trade and philanthropic contributions should facilitate the diversification of the purpose of business, past simply shareholder wealth maximisation.

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Opportunities Aplenty
The inadequacies of the existing governmental infrastructure in regards to ecological preservation, visible in its short-staffed, poorly funded and ill-equipped recycling departments and municipal solid waste management systems ad well as its abhorrent inability to control e-waste may seem like a crisis-inducing situation to most, but also serves as an excellent opening for private entrepreneurial action through clean technologies and green projects which fill in the gaping holes in the national structure, providing ingenious solutions based on localised problems free from the constraints of bureaucratic stooges and officials and cooperating with the disappointed stakeholders which not only allows them to discharge civic duties but also generate a reasonable amount of profits by capitalising on wasted refuse that otherwise would have only contributed to the bludgeoning problem of land and water degradation which is already straining the environment's absorptive capacity. Truly, an example of "One man's trash is another man's treasure."


Conclusion
It is unquestionably certain that the future of business is to be defined predominantly by social entrepreneurship and green projects, with the exponential growth of alternative sources of funds and positive consumer trends acting as a tailwind on which start-ups and companies alike are shifting in-house strategies to adapt to the changing times, emphasising on instituting noticeable real-time ecological impact rather than engage in 'greenwashing', i.e., a practice of companies fraudulently displaying their products and ethics as ecologically sustainable.
Therefore, the resolution of colouring the corporate world green through unique business ideas and establishing standards of self-vigilance and audit in regard to long-term responsibility now lies in the competent and gifted hands of adept entrepreneurs and investors, who must follow in the footsteps of established and well-esteemed brands like Power Ledger, Bakeys, Freitag, Snact, and millions of other unheard names across the globe in striving in making economical synonymous with ecological. 

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Shrish Dhuria
Atma Ram Sanatan Dharma College

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