Business Models in Nascent Markets
Researchers: Dr Markus Perkmann
The markets for many new energy technologies and services are only just emerging. This poses considerable challenges to firms and non-profit organizations wishing to enter these markets or even invent new markets. In this project, we explore the challenge of inventing and implementing new ‘business models’. In short, a business models describe how a firm turns its assets including technology into a viable businesses. How do firms create new business models for generating, distributing and selling energy and energy services? How do existing business models adapt to new regulations and consumption behaviours?
This study focuses on the challenges for-profit and non-profit organizations face when trying to invent and use new business models. For instance, how can they gain legitimacy for their business proposition from investors, corporate sponsors, partners and end users? How do they go about creating the new norms and standards that may be required for making new business models a success? The empirical setting is the nascent market of distributed energy generation and services in the UK. This market has experienced a major push as government regulation stipulates new housing developments to be carbon-neutral by 2016.
Currently, this study is being designed and theoretically developed.