Recognition Nano-Entrepreneurial Opportunities in Achieving Sustainable Development MASOUMEH SHAHVERDI, KAMARIAH ISMAIL MIR HOSSAIN
Faculty of Management, Universiti Teknologi Malaysia, 81310 Skudai, Johor, Malaysia Email of the Corresponding Author:
[email protected] Abstract: Exploiting some nanotechnology-based entrepreneurial opportunities will play important role in achieving sustainable development. Nano-Entrepreneurship in sustainable development is the creation process of new enterprises to promote environmental and life science sustainability. We provide a variety of entrepreneurial opportunities based on nanotechnology and some constitutes part of sustainable development (energy, health, Air, water and food). Some of these opportunities arise from demand pull and the others come from technology push. Data for this study were collected from ecological and social problems, sustainable development literatures, foresight studies and literatures of nanotechnology. Finally, collected data analyzed and identified some entrepreneurial opportunities. . Key-Words: Entrepreneurial Opportunities, Sustainable Development, Nano-Entrepreneurship, Nanotechnology, Demand Push, Technology Push
1 Introduction Entrepreneurial opportunity is a circumstance that a person can discover or present a new business idea that has the potential to generate a profit [1,2,3]. One of the most important sources of opportunities is change in external world that generate opportunities. Some examples of this change are technological change, political and regulatory change and social and demographic change [3,4,5].High potential opportunities invariably solve an important problem, want, or need that someone is willing to pay for now. Many venture capitalists look for ideas will change the way people live and work or solve the world's problems [1,6,7,8]. Many entrepreneurial opportunities have been focused on the need for sustainable development [10]. Sustainable development is the best way for environmental problems, which is currently seriously threatened and several important societal problems for the sake of current and future generations and for the integrity of the planet [11,12]. Changing in technology is one of the most important sources of entrepreneurial opportunities in line with sustainable development. Technology is one of important agent for the sustainability of mankind’s development [1,13,14]. Nanotechnology is one of the newest and useful technologies which can change social life. In nanotechnology, new materials, products and services have developed in a wide range of applications, striving for high benefits [15,16,17]. Nanotechnology has main role in sustainable development by some applications
such as health, Water, Air, Food and energy generation that could improve the human life [18,19,20]. The aim of this paper is to reveal how nano-entrepreneurship is so important for sustainable development and what entrepreneurial opportunities can be created in line with sustainable development. This paper reviews the entrepreneurial opportunities of nanotechnology in related some dimensions of sustainable development and categorizes entrepreneurial applications of nanotechnology in achieving sustainable development in two categories: Energy and Environment(Water and Air) and life science(Health and Food). In each category some examples of entrepreneurial opportunities of nanotechnology have been proposed. This research is based on literature review and document analysis.
2 Problem Formulation Technological change is a key source of opportunities and it is the most important source of valuable entrepreneurial opportunities. Nanotechnology development is a technological change [18]. In line with sustainable development, this technological change can generate valuable entrepreneurial opportunities for solving environmental and life science problems in the world. These opportunities are technology push [21]. Technology-push concept is that advances in scientific understanding determine the direction and rate of innovation [22].These technologies create some opportunities which will be discussed in this paper.Another important source of entrepreneurial
opportunities is societal changes, such as those about environmental quality and human health [1]. Grunwald believes that “demand-pull,” is that policy can induce investment—and consequent improvements—in technologies by enlarging markets for them [23,24].
3 Problem Solution Analyzing nano-entrepreneuril opportunities: There are different forms of entrepreneurial opportunities that result from technological change and environmental change (two sources of opportunities) in achieving sustainable development. Tables 1 to 5 show examples of the different ways in which entrepreneurial opportunities arising from nanotechnology development as a technological change in achieving sustainable development. Tables 1 to 5 also illustrate the fact that any given opportunity can be developed in one of several different ways: through development of a new product or services, tapping into a new market, a new method of production, new raw material and so on. Tables 1 show entrepreneurial opportunities in line with energy application [25-28]. Water-related nanotechnology has the potential to make safe drinking water inexpensive and accessible to developing countries [29]. Table 2 shows entrepreneurial opportunities in line with detection of pollutants and contaminants in water. Air pollution is a serious problem that damages the natural environment and has harmful effects on humans, vegetation or other living organisms. There are nanotechnology-based innovations which can be used for sensing, monitoring and eliminating air pollutants. These innovations can create opportunities for nanoentrepreneurship. Many new business ideas can be exploited from preventing air pollution or sensing and removing pollutants from air [30,31]. Table 3 shows some nano-based entrepreneurial opportunities are based on sensing and removing pollutants from air. Nanotechnology is a new approach to problem solving and can be considered as a collection of tools and ideas which can be applied in life sciences such as health and food industry. We review some applications of nanotechnology in health and food industry as follow. Some applications of nanotechnology in achieving sustainable development in health branch are in the recovery and care/conservation fields. In recovery drug delivery and diagnostics will be reviewed [32-41]. Table 4 illustrate nano-entrepreneurial opportunities for drug delivery. All over the world Food safety is an important public health issue. Nanotechnology has the great potential to generate innovative answers to current problems concerning food safe [42].Indeed, nanotechnology efforts in response food safety problems and generate new products in the food domain with numerous benefits
[43-46].there are many Nano-entrepreneurial opportunities in food industry [47].Some entrepreneurial opportunities in food packing-related nanotechnology are food packages that contain nano-sized particles to alert consumers if a food product is no longer safe to eat [48-50]. Table 5 illustrates some entrepreneurial opportunities in quality and safety of food productsrelated nanotechnology. Table1. Some Nano-entrepreneurial opportunities in energy applications (25-28]. Source of Nanomaterial Form of the Opportunities opportunity Harvesting of light
Thin films with Cu based nanodots
New product
Batteries
Nanoscale doped lifepo4 , SiC Nano composites, TiO2-Bnanowires, TiO2-B nanoparticles, carbon nanotubes, carbon nanotubes and Nano Crystalline Diamond
New product
Thermoelectric generation
Nanowire, Nano porous silica, Nano BiSb, Nano Bi2Te3 – Sb2Te3, Nano PbTe – PbSeTe
New product
Electrochemical Nanowires [Bi, New Deposition Ag and ZnO], product tubes [carbon and Cu], dots [Co and Au], rods [GaO3Al2O3], composite [polyaniline/Bi2Te and Fe-Ga alloys] and superconducting Materials [Sn].
Table 2. Examples of different forms of entrepreneurial opportunities that result from nanotechnology development (technological change) in line with water related problems [49,53]. source of the opportunity
Chitosan nanoparticles
Chitosan nanoparticles
Silver nanopowder Silver nanopowder
TiO2 nanoparticles
Carbon nanotubes
Form of the Example of opportunity product/business (How it was idea in response developed) to the opportunity New Personal care product or products, services microbicide in agriculture and biomedical products, Food wraps, biomedical, flocculants in water and waste water treatments New methods or process
New product or service New methods of production
New product or service
New
Biosorbents Immobilizer of bacteria, enzymes and other biological molecules Portable water filters, clothing, medical devices, coating for washing machines, refrigerators, and food containers Air purifiers, water treatment systems for organic contaminant degradation Solar and UV disinfection of water and wastewater, reactive membranes, biofoulingresistant surfaces Biofouling-
product or service
ZnOnanomaterials New product or service
resistant membranes, carbon hollow fibers, packed bed fillers Antibacterial ceramics, lotion and ointment, deodorant, selfcleaning glass and ceramics Surface coting, mouthwash
Table 3.Some nano-based entrepreneurial opportunities are based on sensing and removing pollutants from air [54]. Source of Nanomaterials Form of the Opportunities opportunity decompose pollutant via electron transfer from nanocrystal atoms to CO2 molecules
Cd and Se nanocrystalbased filters
Hg vapour removing from air
TiO2 nanocrystals
New product New service
New product New service
The NOx (NO+NO2) emission
TiO2 photocatalyst
New product New service
Thick-Film Gas Sensors for Atmospheric Pollutant Monitoring
Sol-Gel Processed TiO2-Based Nano-Sized Powders
New product New service
Table 4. Nano-entrepreneurial pportunities for drug delivery [32-37]. Types of Nano-based Form of Opportu nanostru Opportunities ctures
Biologic nanostruc tures
Polymeri c nanostruc tures
Silicon based nanostruc tures
Carbon based nanostruc tures
Lipid nanotubes Lipid nanospheres Lipid nanoparticles Lipid emulsions Circular peptides Chitosan nanoparticles Viral nanoparticles Nucleic acid nanostructrues Poly( butyl cyanoacryalate) (PBCA) nanoparticles Micelle-based nanocarriers (surfactant, blockcopolymers) in a liquid phase Nanoporous silicon Nanoporous silica Nano porous silicon oxide Embedded with platinum
New product New services
Single wall nanotubes Multi wall nanotubes C60 fullerene
New product New services
Hollow metal nanoshells
New product New services
New product New services
New product New services
Metallic nanostruc tures
releasing NPs with antimicrobia l functions into the food make the plastic lighter, stronger, and more heatresistant Production and processing of food: Refrigerators , storage containers and food preparation equipment
cases zincoxide NP
Nanoceramic devices,m ostly silver, occasiona lly zincoxide
New product
Conservatio n:Food products Packaging materials
Nanosized silver sprays Incorporat ed sensors Colloidal metal NPs, Delivery systems ‘‘Nanoclusters”, Nanosized/clustered food/drin ks nano-Ag, nanoZnO, nano-Cu, nanoTiO2
New product New service
Functional food, consumption :Supplement s/additive
Within the agro-food chain
clay New product nanocomp New service osite
New service
New product New service
New product New service
Table5Someentrepreneurialopportunitie s in quality and safety of food productsrelated nanotechnology [38-46]. 4 Conclusion Source of Nanomat Form of the opportunityThe paper describes that Nanotechnology has different Opportuniti erials applications in sustainable development. Then it goes es ahead to explaining different applications of The use of active packaging
Nanosilver and in rarer
New product New service
nanotechnology in energy and environment and life science. Also in this paper mentions many different nanomaterials and nanoscience that can help in some
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