Home : Innovation : Environmental Technologies : Case Studies of Successful Environmental Technology Companies in Western Canada
Executive Summary
Western Canada's environmental technology sector is in the early stages of development but successes are beginning to emerge. Mind to Market profiles four environmental technology companies from western Canada that have taken a concept through commercialization to realize sustained revenue. The four companies differ in age, product and service offerings, markets served, and type of ownership. While their stories reveal that there is no easy formula for success, some commonalities can be observed in their experiences.
The study showed that there are some aspects of technology commercialization that are unique to the environmental sector. Regulations tend to create market opportunities for environmental products or services. Also, specialized financing options, such as environmental responsible investment funds, are available to environmental technology companies. However, these factors alone are not enough to create a successful company. All profiled companies offer an impressive business case to customers that help improve performance and operational efficiency.
In fact, the most striking results of the study were the similarity in success factors to other technology sectors. The most significant factors driving success for environmental technology companies were talented and driven entrepreneurial leadership, a strong customer and market focus, and integration of sales and R&D objectives. The profiled companies realized that as they grew, so did their organizational needs. Human resources changed from primarily technical to include sales, marketing, and leadership capable of global expansion. Sales processes evolved to include distributor and formal lead generation and qualification processes. Strategic partnerships were employed to increase the scope of sales, distribution channels, research, and ongoing product design.
The good news is that it is never too late to start on the path to success. Not all of the profiled companies got it right the first time. Some of the companies interviewed experienced slow growth for many years. However, once a strategic market-focused approach was adopted, the companies were propelled into a high growth success story.