Forming an Opportunity Belief

I've always had a strong belief that the future of world energy will rely on solar power and other renewable sources. I have carried with me the idea that renewable energy has the potential to supply millions of people with clean power -- fostering sustainability in the rise of contemporary green economies. There is a strong necessity for a form of reliable form of energy that is accessible to the vast majority of people -- specifically those in developing areas where secured forms of energy are scarce.

The people that could benefit from the clean energy in the developing world is not limited exclusively to those in low-income or developing regions. This need for clean energy has been significantly increasing over the last century or so, perhaps even as far back as the Industrial Revolution. The threat of climate change -- exacerbated by prolonged use of non-renewable energy and other human activities that also emit greenhouse gases -- has posed serious pressure on the entire world to make the switch to renewable energy. Despite the passing of the Montreal Protocol in 1987, where 197 nations (including many that are developing) came together in a global effort to reduce GHG emission, progress has remained slow. The reason for this is due to the lack of incentive to cut emissions in developing nations, for the fear that it will prevent economic growth. According to the Center for Global Development, 63% of global carbon emissions are from developing nations -- especially those with large populations such as India and China. Therefore, I believe that in order for greater change to happen, there has to be initiative at the individual or local scale across the world.

Last year, as a senior in high school, I conducted a research study that assessed the sustainability of favelas -- poor shantytowns in Rio de Janeiro, Brazil -- the data was modeled using a framework indicator. I had also done research in the previous year on the global effects of climate change as a result of human unsustainable practices. In these years of studying and musing, I realized that there is a prominent unmet need worldwide -- the need for widespread awareness to aid developing global regions in their transition to sustainable energy sources. My opportunity belief, therefore, lies more in the realm of social entrepreneurship. I believe that an effective way to foster awareness and initiative is by creating a foundation or something similar that raises funds (possibly by marketing/selling a product) to support partnering, community organizations/projects dedicated to increasing renewable energy in the developing world. An example of one of these organizations, as I found in my research, was Revolusolar -- which is dedicated to installing solar panels in favelas in order to provide cheap, efficient, and clean energy in these low-income areas in Brazil. I believe that a collective effort -- through the medium of a foundation or business where some percentage of revenue goes towards these organizations -- is a great way to help create a sustainable future starting from the local scale.

The consumer audience or prototypical customer that I would try to target primarily are the youth -- the people that are the leaders of tomorrow's world, and thus are left with the climate change problem. I would therefore try to reach mainly Millennials and college students -- so for this assignment I interviewed local university students.

My first interview was with a girl named Diana, who I met with at the dining hall. She believes that a platform that advocates awareness of the global climate change issue is very necessary, and that it would also be a good business idea. During the interview, she pulled out one of her favorite quotes by Mandela - "education is the most powerful weapon with which you can change the world." She is an engineering student, who has frequently studied renewable energy and its need to be incorporated in technology -- a notion she also came across in global studies and humanities courses. She also told me about her experiences with the Sierra Club and Florida Solar Energy Co-op, which she says has helped to foster her approval of the social entrepreneurship idea for climate change advocacy and the promotion of renewable energy in the developing world. Promoting renewable energy in these areas, she said, is a good way to "take action" which she believes must be done eventually.

My second interview was with a first-year student named Nasseem. He had an opinion that I noticed significantly diverged from Diana's point of view. In the interview, he emphasized that society has too many for-profit charity start-ups with the similar goal of raising awareness of important global issues. He believes that "taking action" should be done in a more direct manner -- as he explains that people are now more aware of climate change and its palpable effects. He explained how today, there are many obvious signs of this phenomenon affecting our climate and weather patterns -- and how many studies, broadcasts, and more have already devoted countless time to this effort of bringing awareness. He believes that an easier way to mitigate the problem in a more direct manner is by changing our everyday actions to improve sustainability -- claiming that everyone should take into their own hands the responsibility to bring about change, starting at the individual level.

The third interview was with a UCF student named Anthony. He had a more enthusiastic response to this opportunity belief -- by confirming that the social need is definitely there. He said he would be really interested in purchasing from a business with a "buy to give" model, as he believes it would definitely attract consumers -- mainly millennials who enjoy feeling like they've helped out a cause while paying for a product that they like. He described it as a "win/win" situation for the cause, the consumer, and the producer. Anthony also said it may even be a more effective way of fundraising for charity organizations that directly address the lack of renewable energy sources in the developing world. He said this is due to the business' attraction of the population that normally wouldn't directly donate to a charity -- as the product received serves as a strong incentive. Furthermore, he explained that the business' primary goal shouldn't be simply raising awareness as there are too many organizations out there that do that (similar to Nasseem's point). Selling a product and donating a small percentage of profit to organizations is a lot more effective and direct way of handling the climate change issue as it attracts lots of people, especially consumers that have these needs. Furthermore, he said it serves to educate consumers as they purchase goods/services that they already enjoy.

Reflection: Overall I learned that my opportunity generally seems to spark interest in people -- especially the youth, as they are interested in helping a social cause as they gain something as well.
I was surprised with the gaining popularity of this opportunity as climate change continues to make headlines over its potential effects on our planet -- and how willing people are to support this cause in particular. I've seen different businesses with similar "one for one" models that have gained/are gaining popularity among young people -- such as "Toms" and "Sand Cloud." However, there are also some people that don't think this is really anything new or innovative -- as they believe that there is already a plethora of organizations dedicated to fighting climate change through different ways, especially by raising public awareness and spreading education.

Summarize: 
How much of your original opportunity is still there? I'd say almost all of it. 2/3 people I interviewed seemed very enthusiastic about the idea and explained how the unmet need is definitely there.

Do you believe that your new opportunity is more accurate than when you started? Yes, I think by weighing in other people's perspectives on the necessity and providing insight on the demand for this idea, I was able to narrow down the scope of what needs are exactly unmet -- such as the ability to take action in a more direct manner instead of merely raising awareness.

How much do you think entrepreneurs should 'adapt' their opportunities based on customer feedback? (In other words, is there a trade-off between adapting and staying firm?) -- Yes, I think one of the most important things an entrepreneur can do to gain insight on their opportunity belief and how it resonates in society. This is done by reaching out to public consumers and receiving their perspective on the "unmet need" that the entrepreneur solves. However, entrepreneurs should try and draw conclusions after crafting a holistic or general consensus between all of the consumer responses -- as by adapting to every single comment could yield negative business outcomes. Therefore, it is important to listen to consumers yet still maintain a strong element of firmness as ultimately entrepreneurs are the ones in control of running their affairs and addressing their original opportunity belief.