From Residual Streams to New Business Opportunities
What is considered a residual stream today could become the foundation for a new product, service or business tomorrow. During the seminar From Residual Streams to Business – Insights, Challenges and Opportunities, new perspectives were presented on how industrial residual streams can be utilised to create commercial value – and the role small and medium-sized enterprises can play in this development.
Professor Johan Frishammar from Luleå University of Technology presented findings from an interview study exploring how small and medium-sized enterprises can develop new business opportunities by making use of and adding value to residual streams from industry.
Untapped Resources Can Create New Business Opportunities
Residual streams can include everything from materials and raw materials to excess heat and energy. What is a by-product for one company can be a valuable resource for another – and the starting point for a new product, service or business model.
There are already examples of excess heat being used for heating and industrial by-products being processed into new raw materials and products. At the same time, large volumes of residual streams from sectors such as mining, steel, chemicals, pulp and paper are still not being fully utilised.
This is where small and medium-sized enterprises can play an important role. With specialist expertise, new technologies and knowledge of different markets, they can help find new uses for residual streams – creating opportunities for new products, partnerships and business models.
What Does It Take to Build a Viable Business?
Just because a residual stream can be put to use does not automatically mean there is a viable business case. The availability and quality of the residual stream, technology, logistics, market demand, regulations and profitability are some of the factors that need to be considered. Collaboration between different actors with complementary expertise is therefore important for taking an idea forward and developing a commercially viable and sustainable business.
Checklist for Commercialising Residual Streams
To support companies interested in exploring the potential further, North Sweden Cleantech has developed a guide featuring a checklist for commercialising residual streams. It brings together key questions to consider and can be used to assess the potential of a residual stream and identify the next steps towards a possible business opportunity.
Click here to access the guide on commercialising residual streams! (in Swedish)
Watch the Seminar On Demand
The seminar presents the findings from the study, practical experiences and insights into what it takes to successfully turn residual streams into viable business opportunities.
Watch the seminar: