Innovation is considered as one of the most strategies to reach competitive advantage of enterprises. It attracts a great and increasing attention of the economic authorities by formulating strategies of innovation in line of global economic trends.
In parallel with the increasing interest for Start-up’s and small and medium enterprises, due to their importance in economies as an effective contributor to economic development, and an effective alternative to traditional income sources, particularly in oil-dependent countries; Innovation is seen as the growth driver of this type of enterprises, and the key of their success, especially under the competitiveness which characterizes both national and international economic environment.
For ensuring the success of Start-ups and SMEs and enhancing their market share, under the big challenges in the business environment such as: climate changes, storage of sources, social pressure for protecting environment etc. They (start-ups and SMEs) have not only to adopt innovation strategy, but to choose the field of beneficial innovation, and to think to adopt Eco-Innovation, or what’s called “Green Innovation” which means:“any form of innovation resulting in or aiming at significant and demonstrable progress towards the goal of sustainable development, through reducing impacts on the environment, enhancing resilience to environmental pressures, or achieving a more efficient and responsible use of natural resources”.
This type of innovation depends a lot on Green Tech, or Clean Tech which means:” the development and application of products, equipment and systems used to conserve the natural environment and resources, which minimizes and reduces the negative impact of human activities”. This Green Tech can be provided from many sources mainly universities and research centers, through their researches which can be transformed to business either Spin offs or Start-ups.
The adoption of such sort of innovation may contribute strongly in reducing costs, as well as the ability to use the environmental features of the new products, as a competitive advantage, further more; the social effects mainly reducing environmental health risks and reducing unemployment by providing jobs.