INSPIRATION - Supporting INnovative StartuPs towards cIRculAriTy inclusION

About this project

<p>While conventional Business Models focus on monetary value creation for companies’ shareholders, Sustainable Business Models (SBMs) focus on creating social, environmental, and economic value, as well as on minimising businesses’ impact. Sustainable Business Models Innovation (SBMI) is considered a process of transition from conventional Business Models to the implementation of SBMs. This process aims at positive or reduced negative impacts for the environment, society and at long-term prosperity of the organisation and its stakeholders.</p> <p>In Greece, SMEs (which account for 99.9% of businesses, 64.4% of employment and 51.8% of total value added) have suffered from the prolonged recession of 2010-2018 as well as subsequent COVID-19 related impacts. The adverse economic environment has affected all aspects of entrepreneurship in the country, especially for small and micro-SMEs, including access to low-cost capital, R&amp;I and investment capabilities, employment, and overall competitiveness. As a result, only 18% of Greek firms have taken measures against climate change, compared to 45% in the EU. The lack of environmental investment is even more stark amongst Greek SMEs with 11% investing in climate change measures and energy efficient investments making up only 3% of total investment.</p> <p>As SBMs and CEBMs are, and will be more so in the future, an important competitiveness factor for businesses, there is a widening competitiveness gap between Greek SMEs and large or multi-national enterprises. This gap results in a vicious circle for small and micro-SMEs, whereby limited competitiveness and profitability, narrows available resources for transition into SBMs and CEBMs, resulting to further widening of the competitiveness gap, to further loss of profitability, and so on.</p> <p>This project aims exactly at narrowing this gap, by improving the conditions for the adoption of Sustainable and Circular Economy Business Models by Greek Small and Micro-SMEs.&nbsp;</p>

Bilateral cooperation results

IDN’s role as a partner in this project worked as a catalyst for the project’s successful completion. Since IDN possesses extensive knowledge and expertise on co-funded projects that promote sustainability and circularity, the Norwegian partner’s contribution was nodal to project success, in all project phases. The Consortium also collaborated successfully with the Women Investor Network in Norway. • The WIN representatives attended online meetings with all startups, aimed at strengthening women in business, as employees, leaders and decision-makers, as well as assisting them in making their company more marketable, and attractive to Norwegian women funders. • WIN representatives along with Consortium, accompanied the six selected startups to the Startup Extreme fair in Hemsedal, Norway. All six startups and especially the women-led ones, were offered extensive consultation by the WIN representatives, so they further cultivate a business culture that practically embraces gender equality and promotes female entrepreneurship, while undergoing SBMI.

Project partners

• International Development Norway AS Donor project partner· Norway
• Athens Chamber of Commerce and Industry Project partner· Greece