Green Entrepreneurship: Contemporary Issues on Technology and Innovation

Abstract

As Environment is degrading, the need for protecting the environment is increasing. Today many industries are concentrating on conversion of products and its process into Green to utilise the limited resources effectively and to protect the environment. The Green products are one of the best sources to protect the environment. This Article deals with the importance of technology to produce Green products and the need of innovation to survival in this current era. Indeed, the development of green industries is very essential. In spite of its strengths, it has been facing many barriers with the advancements in Technology to implement in its operation.  In this article, it is identified as, Technological barriers are in lack of knowledge about Green Technology, accessing Green Technology, budget constraints in importing the green technology, Suitability of Green Technology for available resources and very few Industries are able to gain Synergies. In Innovations, the problems are novel innovations restricted to niche segments, budget constraints in accessing global markets, lack of research and development, Lack of Government support in promoting innovations and technology etc. Many industries follow green initiatives in their process but very fewer industries convert their complete processes into green.