People are the most important drivers behind innovation.
Turn MY project into OUR project
"What matters to us is not not the things we do, but the people that do it with us," says young Brazilian entrepreneur JP Cardoso. His haunting story points out the importance of the people you work with. Partners, investors, supporters,... But also stakeholders and early adopters in your own industry.
Survivors in textile business are innovators
Let’s take an example from DyeCoo. They focused on one of the biggest challenges of the textile industry: to reduce the use of vast quantities of water and the production of huge amounts of chemicals and toxic waste. Dutch company DyeCoo developed a process of dyeing cloth that uses no water at all, and no chemicals other than the dyes themselves. The dyeing technology is based on CO₂.
Partnership essential for breakthrough
DyeCoo strongly believed that the textile industry needed revolution instead of an evolution. But a revolution is not something you start on your own. All the reason why partnering was essential to unlock not only a dream but also massive value. Nike was one of the first to believe in the technology. They called it a powerful opportunity. And Adidas used it to create a better image for the industry. Today the company is trusted by the top industry players. But that didn’t happen overnight.
Why stakeholder engagement is so important
The above example of Nike and DyeCoo illustrates that there are smart ways to unlock the market potential of sustainability issues. “But turning such issues into opportunities is not easy;” INSEAD writes on their blog. “It requires a partnering approach, not just an isolated technological innovation. A prerequisite for success is therefore to first interact with stakeholders to deeply understand their sustainability concerns. From this understanding, the impact and market potential can be revealed. With enough potential, the stakeholder engagement will also come in useful in the development of the required partnering platform. In short, value chain collaboration should be regarded as a key differentiator to turn sustainability issues into tangible business opportunities. Read more.
Textirama Foundation’s vision
The above shows why Textirama Foundation can play a key role in innovations in textile. Not only will the Foundation support innovations by investing in them, the Foundation also wants to stimulate the sector to share ideas and concepts among the stakeholders. Want to read more about innovation? Subscribe to our mailing list. We only use your address for the newsletter. That’s a promise.