Innovation and Entrepreneurship for Sustainable Development
Innovation and entrepreneurship have long been recognized by industry and policy makers as key drivers of modern industrial economies, yet at the same time the cause of many social and environmental problems. For example, Nelson and Winter (1982) have argued that while technical change leads to progress, it also generates new problems that must be later dealt with in some way or another. Baumol (1990) distinguished between productive entrepreneurship, innovation that results in a net societal benefit, and destructive entrepreneurship, illegal activities where there are more losers than winners. Innovation and entrepreneurship can thus be conceptualized as both panaceas and paradoxes for sustainable development - main drivers of social and environmental improvements, but also often resulting in unintended consequences. Managing such dynamics is a key challenge for business and policy makers, as well as the scientists, engineers and entrepreneurs that develop technology.
The Innovation and Entrepreneurship for Sustainable Development Hub recognizes the importance of multidisciplinary approaches to understanding sustainability. We therefore employ a number of methodological techniques and draw on a variety of theoretical lenses to understand the complex challenges of innovation and entrepreneurship for improved economic, environmental and social conditions. As shown in the figure, to date the Hub’s research has been focused on three often overlapping areas:
- Innovation, Entrepreneurship & Technology
- Management Health, safety & environment (HS&E), Poverty reduction & Social inclusion
- Industrial ecology, Life cycle assessment (LCA) and related tools, and Sustainable supply chains