Remember our old post on Mika Westerlund and Green Innovation? Since then, some literature has been published and we at Startup Goat are keeping you updated!

More from Mika Westerlund’s fascinating lecture. He went to University of Berkeley in California, in the heart of Silicon Valley to study open innovation. Instead, he found that the hottest topic was Green Innovation as an offshoot of open innovation. 

He describes it from the very captivating lecture: http://timreview.ca/article/707 . While Canada is developing tarsands – silicon valley is developing green technology.

For more indepth information: http://timreview.ca/sites/default/files/article_PDF/TIMLS_Westerlund_TIMReview_July2013.pdf

Highlights:

“Among the market benefits, a key driver has been the increasing demand and prices of natural resources, therefore the greatest impetus for green innovation lies in resource-intensive industries that produce consumer products, chemicals, automobiles. Here, green innovation is not just about “doing good”; a company in a resource-intensive industry simply cannot compete without going green (Haanaes et al., 2012). Indeed, the green mindset can be applied to any aspect of a company, including production processes, lifecycle management, new products and services, and new business models. – See more at: http://timreview.ca/article/707#sthash.p7sYErUt.dpuf”

To varying degrees, green companies are taking advantage of five key benefits of a focus on sustainability (Kiron et al., 2013):

  1. Market benefits (e.g., brand, competition, new markets)
  2. Financial benefits (e.g., increased margins, reduced costs)
  3. Innovation benefits (e.g., business models and processes, product/service offerings)
  4. Compliance benefits (e.g., reduced waste, lower material costs, adherence to regulations)
  5. Stakeholder benefits (e.g., attracting and retaining talent, stakeholder/investor relations, reduced risk)

- See more at: http://timreview.ca/article/707#sthash.p7sYErUt.dpuf

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