Lean business model canvas and sustainable innovation business model based on the industrial synergy of microalgae cultivation

• Main Authors: Moshood, Taofeeq D., Nawanir, Gusman, Norhana, Mohd Aripin, Mohd Hanafiah, Ahmad, Lee, Khai Loon, Suhaidah, Hussain, Sanusi, Yekinni Kolawole, W. A., Ajibike
• Format: Article
• Language: English
• Published: Elsevier Ltd 2022
• Subjects: H Social Sciences (General)
• Online Access: http://umpir.ump.edu.my/id/eprint/32981/1/Lean%20Business%20Model%20Canvas.pdf; http://umpir.ump.edu.my/id/eprint/32981/; https://doi.org/10.1016/j.envc.2021.100418; https://doi.org/10.1016/j.envc.2021.100418
• Institution: Universiti Malaysia Pahang

As a fundamental principle of natural resource management, sustainability encompasses a range of interrelated concepts, including operational efficiency, environmental effect minimization, and socioeconomic impact analysis. Microalgae have the capability to minimize CO2 emissions while also generating a large volume of oil, which might make them useful in the development of the next generation of biofuels. The emphasis was on researching the technological possibility of biofuel microalgae cultivation with CO2 provision from flue gas manufacturing due to various factors influencing microalgae production. Biodiesel microalgae, on the other hand, are quiet and far from commercially viable products due to numerous bottlenecks, which can be resolved by recognizing microalgae biomass manufacture as a market advantage when combined with a production facility from the perspective of a lean business model canvas for algae cultivation and sustainable business model innovation. This article aims to establish a lean canvas business model and a sustainable, innovative business model based on the industrial synergy of microalgae cultivation in the biodiesel production pathway. The results have contributed to developing scenarios for lean business model canvas and a sustainable, innovative business model for varying degrees of transition in the business model. Improved collaboration with external stakeholders and the introduction of new consumer networks were among the many examples given. The findings of the study contribute to a better understanding of how the global market for microalgae is changing.