London: Business school students are at the forefront of sustainability innovations, from renewable energy solutions to healthcare financing. Start-ups like Zor and 10mg are creating impactful projects, demonstrating the potential of entrepreneurial spirit to address urgent ecological and social challenges.
Innovations targeting sustainability are emerging from business school students eager to confront some of the world’s most pressing issues. A recent showcase highlighted student start-ups with ambitious projects aimed at promoting sustainable practices, particularly through solutions related to renewable energy, healthcare financing, waste reduction, and urban greening.
In rural India, the start-up Zor, co-founded by Harvard MBA students Rea Savla and Vishesh Mehta, is addressing the energy crisis faced by farmers. With inadequate electricity supply leading to high diesel costs, Zor has created a battery-sharing solution. This system provides modular, pay-per-use batteries powered by either the grid or solar energy, thereby reducing expenses and emissions. During an 18-month research phase, Savla and Mehta visited 25 villages and spoke to over 700 farmers, ensuring the model was community-driven and tailored to local needs. “In rural areas, solutions don’t come from directories or online platforms, they come from relationships,” Savla noted. The success of their pilots in Odisha and Jharkhand underscores the demand for accessible and economical energy solutions in agricultural contexts.
In the realm of healthcare financing, Christian Nwachukwu, a graduate of Aston Business School, has developed 10mg, an AI-powered credit scoring platform. This initiative enables fast, collateral-free loans for healthcare providers in emerging markets. Nwachukwu, leveraging his experience in the pharmaceutical sector, identified the barriers posed by lengthy loan approvals and high interest rates, which diminish access to necessary funds. With partnerships formed with UK lenders and nearly 5,000 healthcare providers in Nigeria and Senegal, 10mg has facilitated over $1.25 million in loans, directly affecting over 173,000 patients each month.
The eyewear industry is being transformed by Ophélie Vanbremeersch, an MSc international business student at IESEG Lille. Her start-up, Zac, focuses on collecting and refurbishing eyewear, with the goal of integrating sustainability into optics. “Our aim is to be the leading solution for the circular economy in optics,” Vanbremeersch explained. Zac is making strides in its mission, with over 250 partnerships with opticians and plans to expand to 3,000 stores by 2028. The venture not only prioritises sustainability but also aims to support vulnerable individuals through employment opportunities in the reconditioning process.
Chemical Innovations in Water Industries (CIWI), co-founded by IMD MBA graduate Jasper Schakel and engineer Erik Kraaijeveld, is addressing water treatment challenges using innovative electrochemical technology. After testing their methods in Ghana, CIWI has developed a system to produce essential water treatment agents on-site, which reduces dependency on traditional chemicals and CO? emissions. The current pilot phase with Brabant Water aims to meet a significant portion of its processing needs. “We don’t want to be disruptive technology; we want to be sustainable technology,” Schakel remarked, highlighting the focus on seamless integration into existing systems.
Urban spaces are set to become greener thanks to Victor Magaud, an ESSEC master’s student, who created Phytopolis. His concept of arboricomposting allows plants to thrive using organic waste in above-ground systems, overcoming the limitations of traditional in-ground planting. Since its launch in May 2024, Phytopolis has introduced various designs adaptable for schools, hospitals, and commercial spaces, successfully engaging communities in composting practices. Magaud plans to expand internationally, setting an ambitious target of one million urban plants planted over the next decade.
These innovative start-ups not only showcase the entrepreneurial spirit but also highlight the increasing interconnectedness of sustainable practices across various sectors, providing insightful revelations about how the next generation is addressing ecological and social challenges through business ventures.
Source: Noah Wire Services
