Peer-Reviewed Open Access Journal

DIAS Technology Review

The Institute has a unique distinction of publishing a bi-annual International journal DIAS Technology Review – The International Journal for Business and IT. The Editorial Board comprises of...

ISSN: 2231-2498 Quarterly English Since 2011
Current Issue

Vol. 21 No. 1 (2024)

Articles 41th Edition of DTR Apr 2024 – Mar 2024

Charting Path: Sustainable Startups and TheirRole in Global Sustainability Transitions

Authors

Research Scholar, Department of Commerce, Bhagat Phool Singh Mahila Vishwavidalaya, Khanpur Kalan, India

Associate Professor, Department of Commerce, Bhagat Phool Singh Mahila Vishwavidalaya, Khanpur Kalan, India

39 Views
22 Downloads
Published 2024-09-30
Pages 19-43
Abstract

This study investigates research trends on sustainable startups and their alignment with SDGs, emphasizing dominant themes, influential contributors, and knowledge gaps. A bibliometric analysis of 509 articles (2015–2025) from Scopus and Web of Science using RStudio Biblioshiny and advanced mapping techniques. Results reveal rapid growth, fragmented collaborations, European and Asian leadership, and thematic clusters on innovation, circular economy, digital transformation, and social inclusion. Innovative business models, cross-sector partnerships, and policy environments that encourage green innovation and market growth are some of the things that help sustainable startups succeed. But they still have to deal with big problems, like not being able to get enough funding, not knowing what the rules will be, and the high cost of sustainable technologies that make it hard to use them on a large scale and have a long-lasting effect. Offers one of the first integrated bibliometric mappings of sustainable startups and SDGs, consolidating fragmented scholarship and suggesting future research directions. Restricted to English-language articles indexed in Scopus and Web of Science, potentially excluding relevant regional or non-indexed contributions. Provides actionable insights for policymakers, investors, and entrepreneurs to strengthen collaboration, inclusivity, and digital transformation in sustainable startup ecosystems. Underscores sustainable startups as transformative agents tackling inequality, climate change, and digital exclusion while advancing systemic progress toward the SDGs.

Keywords
Sustainable Startups; Sustainable Development Goals (SDGs); Agenda 2030; Research Trends
References
  1. i. Abdelwahed, N. A. A., & Soomro, B. A. (2024). Enhancing organizational behaviour through
  2. corporate governance: The crucial role of organizational culture and sustainability. Corporate Governance and Organizational Behavior Review, 8(1), 94- 104.
  3. ii. Al Doghan, M. A., Channa, A., Abdelwahed, N. A. A., & Soomro, B. A. (2023). The predictive
  4. power of human resource practices in developing social entrepreneurship performance and sustainable business. Journal of Law and Sustainable Development, 11(12), e2206-e2206.
  5. iii. Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management,
  6. 17(1), 99–120. https://doi.org/10.1177/014920639101700108
  7. iv. Benz, L. (2022). Business model innovation for sustainability: A systematic review and future
  8. research agenda. Journal of Cleaner Production, 356, 131866.
  9. v. Bergmann, M., & Utikal, H. (2021). Green consumer behavior and startup success: A sustainability
  10. marketing perspective. Sustainability, 13(4), 2178.
  11. vi. Bican, P. M., & Brem, A. (2020). Digital business model, digital transformation, digital entrepreneurship: Is there a sustainable “digital”?. Sustainability, 12(13), 5239
  12. vii. Bocken, N. M. P. (2015). Sustainable business models: A review. Journal of Cleaner Production, 96,
  13. 42–56.
  14. viii. Bocken, N. M. P., Short, S. W., Rana, P., & Evans, S. (2014). A literature and practice review to
  15. develop sustainable business model archetypes. Journal of Cleaner Production, 65, 42–56.
  16. ix. Butkouskaya, V., Romagosa, F., & Noguera, M. (2020). Obstacles to sustainable entrepreneurship
  17. amongst tourism students: A gender comparison. Sustainability, 12(5), Article 1812.
  18. x. Chaudhary, S., Sinha, S., & Tripathi, R. (2023). Collaborative innovation networks for sustainable
  19. entrepreneurship. Journal of Sustainable Business and Innovation, 5(2), 134–149.
  20. xi. Cohen, B., & Winn, M. I. (2007). Market imperfections, opportunity and sustainable entrepreneurship. Journal of Business Venturing, 22(1), 29–49.
  21. xii. Comin, L. C., Aguiar, C. C., Sehnem, S., Yusliza, M. Y., Cazella, C. F., & Julkovski, D. J. (2020).
  22. Sustainable business models: a literature review. Benchmarking: An International Journal, 27(7),
  23. 2028-2047.
  24. xiii. Cordova, M. F., & Celone, A. (2019). SDGs and innovation in the business context literature re
  25. view. Sustainability, 11(24), 7043. https://doi.org/10.3390/su11247043
  26. xiv. Costanza, R., Daly, L., Fioramonti, L., Giovannini, E., Kubiszewski, I., Mortensen, L. F., ... &
  27. Wilkinson, R. (2016). Modelling and measuring sustainable wellbeing in connection with the
  28. UN Sustainable Development Goals. Ecological economics, 130, 350-355.xv. D’Amato, D., Veijonaho, S., & Toppinen, A. (2020). Towards sustainability? Forest- based circular
  29. bioeconomy business models in Finnish SMEs. Forest policy and economics, 110, 101848.
  30. xvi. Dean, T., & McMullen, J. (2007). Toward a theory of sustainable entrepreneurship: Reducing envi
  31. ronmental degradation through entrepreneurial action. Journal of Business Venturing, 22, 50–76.
  32. xvii. Dees, J. G. (1998). The meaning of social entrepreneurship. Kauffman Center for Entrepreneurial
  33. Leadership.
  34. xviii. Di Vaio, A., Palladino, R., Hassan, R., & Escobar, O. (2020). Artificial intelligence and business
  35. models in the sustainable development goals perspective: A systematic literature review. Journal
  36. of Business Research, 121, 283-314.
  37. xix. Donthu, N., Kumar, S., Mukherjee, D., Pandey, N., & Lim, W. M. (2021). How to conduct a biblio
  38. metric analysis: An overview and guidelines. Journal of Business Research, 133, 285–296.
  39. xx. Dressler, M. (2023). Business model patterns for sustainable startups: Insights from green entrepre
  40. neurship. Sustainability, 15(6), 5123.
  41. xxi. Eang, M., Clarke, A., & Ordonez-Ponce, E. (2023). The roles of multinational enterprises in imple
  42. menting the United Nations Sustainable Development Goals at the local level. BRQ Business Re
  43. search Quarterly, 26(1), 79-97.
  44. xxii. Elkington, J. (1997). Cannibals with forks: The triple bottom line of 21st century business.
  45. Cap stone.
  46. xxiii. Freeman, R. E. (1984). Strategic management: A stakeholder approach. Pitman.
  47. xxiv. Geels, F. W. (2002). Technological transitions as evolutionary reconfiguration processes: A
  48. multi-level perspective and a case-study. Research Policy, 31(8–9), 1257– 1274. https://doi.
  49. org/10.1016/ S0048-7333(02)00062-8
  50. xxv. Geissdoerfer, M., Vladimirova, D., & Evans, S. (2023). Sustainable business model innovation:
  51. Conceptual foundations and practical insights. Business Strategy and the Environment, 32(1), 245–
  52. 260.
  53. xxvi. Ghauri, P. N. (2022). The role of multinational enterprises in achieving sustainable development
  54. goals. Aib Insights, 22(1), 1-5.
  55. xxvii. Gorowara, N., Yadav, S., & Kumar, V. (2024). Sustainable future: Government initiatives in
  56. the adoption of emerging sustainable technologies by startups in india. In Fostering innovation in
  57. venture capital and startup ecosystems (pp. 286-305). IGI Global Scientific Publishing.
  58. xxviii. Govindan, K., Shankar, K. M., & Kannan, D. (2020). Achieving sustainable development goals
  59. through identifying and analyzing barriers to industrial sharing economy: A framework development.
  60. International journal of production economics, 227, 107575.xxix. Gray, R., Adams, C. A., & Owen, D. (2018). Accountability, social responsibility, and sustainability: Accounting for society and the environment. Routledge.
  61. xxx. Grijalva, P., Cornejo, G., Gómez, R., Real, K., & Fernandez, A. (2019). Collaborative tools for
  62. systematic revisions. Revista Espacios, 40, 9–15.
  63. xxxi. Hall, J., Daneke, G., & Lenox, M. (2010). Sustainable development and entrepreneurship: Past
  64. contributions and future directions. Journal of Business Venturing, 25(5), 439–448.
  65. xxxii. Hezri, A. A. (2013). Broadening the Environmental Dimension in the Post‐2015 Development
  66. Agenda. IDS Bulletin, 44(5‐6), 81-88.
  67. xxxiii. Hofmann, A., Gerlach, S., & Pinske, J. (2022). Consumer demand and sustainability transitions
  68. in entrepreneurial ventures. Journal of Small Business Management, 60(2), 372–389.
  69. xxxiv. Horne, J., Recker, M., Michelfelder, I., Jay, J., & Kratzer, J. (2020). Exploring entrepreneurship
  70. related to the sustainable development goals-mapping new venture activities with semi-automated content analysis. Journal of Cleaner Production, 242, 118052. https://doi.org/10.1016/j.
  71. respol.2018.08.011
  72. xxxv. Jolink, A., & Niesten, E. (2015). Sustainable development and business model innovation: A
  73. comparison of sustainability-oriented companies. Business Strategy and the Environment, 24(5),
  74. 386–399.
  75. xxxvi. Klewitz, J., & Hansen, E. G. (2014). Sustainability-oriented innovation of SMEs: A systematic
  76. review. Journal of Cleaner Production, 65, 57–75.
  77. xxxvii. Küfeoğlu, S. (2022). SDG-7 affordable and clean energy. In Emerging technologies: Value
  78. creation for sustainable development (pp. 305-330). Cham: Springer International Publishing.
  79. xxxviii. Lee, K., Roh, T., Kim, J., Park, S., & Bae, Y. (2025). Unpacking sustainability in start- ups: a
  80. systematic review and research agenda. Discover Sustainability, 6(1), 1-24.
  81. xxxix. Mol, A. P. J., & Spaargaren, G. (2000). Ecological modernization theory in debate: A review.
  82. Environmental Politics, 9(1), 17–49. https://doi.org/10.1080/09644010008414511
  83. xl. Mondal, P., Sinha, S., & Gupta, N. (2023a). Sustainability-driven innovation in green startups:
  84. Challenges and growth strategies. Environmental Innovation and Societal Transitions, 48, 100824.
  85. xli. Morioka, S. N., Bolis, I., Evans, S., & Carvalho, M. M. (2017). Transforming sustainability
  86. challenges into competitive advantage: Multiple case studies kaleidoscope converging into sustainable business models. Journal of cleaner production, 167, 723-738.
  87. xlii. Muñoz, P., & Cohen, B. (2018). Sustainable entrepreneurship research: Taking stock and looking
  88. ahead. Business Strategy and the Environment, 27(3), 300–322.
  89. xliii. Munyasya, B. M., & Chileshe, N. (2018). Access to finance for green startups: An emerging
  90. market perspective. International Journal of Sustainable Development & World Ecology, 25(7)650–662.
  91. xliv. Pedersen, A. B., Hickmann, T., Renn, O., Eckert, N., Jax, K., Lepenies, R., ... & Rusch, G.
  92. (2023). SDGs at the halfway point: How the 17 global goals address risks and wicked problems.
  93. Ambio, 52(4), 679-682.
  94. xlv. Pinkse, J., & Groot, K. (2015). Sustainable entrepreneurship and corporate political activity:
  95. Overcoming market barriers in the clean energy sector. Entrepreneurship Theory and Practice, 39(3),
  96. 633-654.
  97. xlvi. Pranckutė, R. (2021). Web of Science (WoS) and Scopus: The titans of bibliographic information
  98. in today’s academic world. Publications, 9(12). https://doi.org/10.3390/publications9010012
  99. xlvii. Pricopoaia, O., Brinza, G., & Lazar, M. (2024). Policy frameworks for green entrepreneurship:
  100. European perspectives and practices. Journal of Environmental Policy and Management, 12(1),
  101. 22–39.
  102. xlviii. Provasnek, A. K., Schmid, E., Geissler, B., & Steiner, G. (2017). Sustainable corporate entrepreneurship: Performance and innovation drivers in green organizations. Sustainability, 9(12), 2306.
  103. xlix. Rahdari, A., Sepasi, S., & Moradi, M. (2016). Achieving sustainability through Schumpeterian
  104. social entrepreneurship: The role of social enterprises. Journal of cleaner production, 137, 347-360.
  105. l. Raposo, M., Ferreira, J., & Fernandes, C. (2020). The role of government policies in promoting
  106. green entrepreneurship. Journal of Entrepreneurship and Public Policy, 9(3), 421–440.
  107. li.
  108. Rashid, L. (2019). Entrepreneurship education and sustainable development goals: A literature
  109. review and a closer look at fragile states and technology-enabled approaches. Sustainability. https://
  110. doi.org/10.3390/su11195343
  111. lii.
  112. Riegler, V., Bergmann, M., & Utikal, H. (2023). Collaborative partnerships for sustainability-oriented innovation. Sustainability, 15(8), 6645.
  113. liii. Rockström, J., et al. (2009). A safe operating space for humanity. Nature, 461(7263), 472–475.
  114. liv. Rogers, E. M. (1962). Diffusion of innovations (1st ed.). Free Press.
  115. lv. Romero Goyeneche, O. Y., Ramirez, M., Schot, J., & Arroyave, F. (2022). Mobilizing the transformative power of research for achieving the Sustainable DevelopmentGoals. ResearchPolicy.
  116. lvi. Rubio-Mozos, E., García-Muiña, F. E., & Fuentes-Moraleda, L. (2020). Sustainable strategic
  117. management model for hotel companies: A multi-stakeholder proposal to “walk the talk” toward
  118. SDGS. Sustainability, 12(20), 8652.
  119. lvii. Ruhil, R. (2015). Millennium development goals to sustainable development goals: challenges in
  120. the health sector. International Studies, 52(1-4), 118-135
  121. lviii. Rumbayan, M., Pundoko, I., Sompie, S. R., & Ruindungan, D. G. (2025). Integration of smart
  122. water management and photovoltaic pumping system to supply domestic water for rural communities. Results in Engineering, 25, 103966.lix. Sarma, S., Attaran, S., & Attaran, M. (2024). Sustainable entrepreneurship: Factors influencing
  123. opportunity recognition and exploitation. The International Journal of Entrepreneurship and Innovation, 25(1), 56-69.
  124. lx. Schaltegger, S., & Wagner, M. (2011). Sustainable entrepreneurship and sustainability innovation:
  125. Categories and interactions. Business Strategy and the Environment, 20(4), 222–237.
  126. Beckmann, M., & Hockerts, K. (2018). Collaborative entrepreneurship for sustainability. Creating
  127. solutions in light of the UN sustainable development goals. International Journal of Entrepreneurial
  128. Venturing, 10(2), 131-152.
  129. lxii. Schaltegger, S., Lüdeke-Freund, F., & Hansen, E. G. (2016). Business models for sustainability:
  130. A co-evolutionary analysis of sustainable entrepreneurship, innovation, and transformation. Organization & environment, 29(3), 264-289.
  131. lxiii. Schot, J., & Steinmueller, W. E. (2018). Three frames for innovation policy: R&D, systems of
  132. innovation and transformative change. Research policy, 47(9), 1554-1567.
  133. lxiv. Shah, N., Bhatti, M. K., Saraih, U. N., Abdelwahed, N. A. A., & Soomro, B. A. (2024). The achievement of sustainable development and business success through rational management decision-making in a circular economy. International Journal of Innovation Science, 16(5), 956-980.
  134. lxvi. Silvestre, B. S., & Ţîrcă, D. M. (2019). Innovations for sustainable development: Moving toward
  135. a sustainable future. JournalCleaner Production, 208,325-332.
  136. lxvii. Singh, V. K., Singh, P., Karmakar, M., Leta, J., & Mayr, P. (2021). The journal coverage of Web
  137. of Science, Scopus and Dimensions: A comparative analysis. Scientometrics, 126(5113-5142).
  138. https://doi.org/10.1007/s11192-021-03984-3
  139. lxviii. Soomro, B. A., & Shah, N. (2015). Developing attitudes and intentions among potential entrepreneurs. Journal of Enterprise Information Management, 28(2), 304-322.
  140. lxix. Soomro, B. A., K. Almahdi, H., & Shah, N. (2021). Perceptions of young entrepreneurial
  141. aspirants towards sustainable entrepreneurship in Pakistan. Kybernetes, 50(7), 2134-2154.
  142. lxx. Soomro, B. A., Lakhan, G. R., Mangi, S., & Shah, N. (2020). Predicting entrepreneurial intention
  143. among business students of public sector universities of Pakistan: an application of the entrepreneurial event model. World Journal of Entrepreneurship, Management and Sustainable Development,
  144. 16(3), 219-230.
  145. lxxi. Soomro, B. A., Moawad, N. F., Saraih, U. N., Abedelwahed, N. A. A., & Shah, N. (2024). Going
  146. green with the green market and green innovation: building the connection between green entrepreneurship and sustainable development. Kybernetes, 53(4), 1484-1504.
  147. lxxii. Sorooshian, S. (2024). The sustainable development goals of the United Nations: A comparative
  148. midterm research review. Journal of Cleaner Production, 453, 142272.
  149. lxxiii. Stefan, I., Popescu, D., & Stoica, A. (2021). Consumer perception and sustainable product
  150. success in emerging markets. Journal of Sustainable Marketing, 3(2), 112–127lxxiv. Surana, K., Singh, A., & Sagar, A. D. (2020). Strengthening science, technology, and innovation-based incubators to help achieve Sustainable Development Goals: Lessons from India. Technological Forecasting and Social Change, 157, 120057lxxi. Soomro, B. A., Moawad, N. F., Saraih, U. N., Abedelwahed, N. A. A., & Shah, N. (2024). Going
  151. green with the green market and green innovation: building the connection between green entrepreneurship and sustainable development. Kybernetes, 53(4), 1484-1504.
  152. lxxii. Sorooshian, S. (2024). The sustainable development goals of the United Nations: A comparative
  153. midterm research review. Journal of Cleaner Production, 453, 142272.
  154. lxxiii. Stefan, I., Popescu, D., & Stoica, A. (2021). Consumer perception and sustainable product
  155. success in emerging markets. Journal of Sustainable Marketing, 3(2), 112–127.
  156. lxxiv. Surana, K., Singh, A., & Sagar, A. D. (2020). Strengthening science, technology, and innovation-based incubators to help achieve Sustainable Development Goals: Lessons from India. Technological Forecasting and Social Change, 157, 120057
  157. lxxiv. Surana, K., Singh, A., & Sagar, A. D. (2020). Strengthening science, technology, and innovation-based incubators to help achieve Sustainable Development Goals: Lessons from India. Technological Forecasting and Social Change, 157, 120057
  158. lxxv. Suriyankietkaew, S. (2019). Sustainable leadership and entrepreneurship for corporate sustainability in small enterprises: An empirical analysis. World review of entrepreneurship, management
  159. and sustainable development, 15(1-2), 256-275.
  160. lxxvi. Suriyankietkaew, S., Petison, P., & Avery, G. C. (2022). Sustainable leadership practices and firm
  161. performance in emerging economies. Asia Pacific Business Review, 28(3), 415–438.
  162. lxxvii. Teece, D. J. (2007). Explicating dynamic capabilities: The nature and microfoundations of
  163. (sustainable) enterprise performance. Strategic Management Journal, 28(13), 1319– 1350. https://
  164. doi.org/10.1002/smj.640
  165. lxxviii. Theodoraki, C., Dana, L. P., & Caputo, A. (2022). Building sustainable entrepreneurial ecosystems: A holistic approach. Journal of Business Research, 140, 346-360.
  166. lxxix. Thompson, N., & Eijkemans, R. (2018). Leadership, innovation, and sustainability in entrepreneurial ventures. International Journal of Innovation Management, 22(6), 1850054
  167. lxxx. Tunçalp, D., & Yıldırım, N. (2022). Sustainable Entrepreneurship: Mapping the Business
  168. Landscape for the Last 20 Years. Sustainability (Switzerland), 14(7). https://doi.org/10.3390/
  169. su14073864
  170. lxxxi. United Nations. (2015). Transforming our world: The 2030 Agenda for Sustainable Development.
  171. lxxxii. Valverde, F., & Llorens, F. (2019). Strategic portfolio of IT projects at universities: A systematic
  172. and non-conventional literature review. Ingeniería e Investigación. https://doi.org/10.15446/ing.
  173. investig.v39n2.72431
  174. lxxxiii. Veleva, V. (2021). Business model innovation for sustainability transitions: Lessons from
  175. startups and SMEs. Sustainability, 13(12), 6713
✓ Citation copied to clipboard