Sustaining the Future Through Green Technology August 6, 2013 RICCentre By: Areej Shah Is driving a car becoming cost-prohibitive in Ontario? The Western GTA Summit Committee found that the “average transportation costs for GTA families soar to $10,000 per year.” As gas prices continue to rise, car owners are feeling the pressure to use alternative means of transportation. Many people walk to nearby places, use public transportation and car-pool to work. Yet these measures are simply work-around solutions which avoid the inherent problem of using non-renewable fossil fuels to power our vehicles. Thankfully, we live in an era of great technological innovation and can soon expect a breakthrough in sustainable alternative fuel sources or an affordable vehicle that does not require conventional fuel-ups. With the recent emphasis towards going green and reducing environmental pressures, these types of innovations can be considered a small step towards something revolutionary. Businesses are also adapting to such social pressures by incorporating an environmental perspective into their economic approach. Different organizations help promote this type of sustainable thinking and a great local example are the Partners in Project Green, which provide information on the latest green building technologies that promote an eco-friendly workplace. Overall, while the availability of limited resources encourages companies to invest in energy efficient measures, some entrepreneurs are taking it a step further by creating a new market for inventions that never previously existed. We surpassed the age when wind turbines and solar panels were the hot new energy generation tools. Instead, the talk of the day has switched to transportable nuclear generators and green computing centres. We are progressing towards technologically advanced innovations and renowned companies are initiating big advances in this sector. Microsoft and VMware are competing against each other as both companies venture into the growing field of virtualization: the ability to create simulation or virtual versions of operating systems, servers, storage devices or networks. Virtualization has saved businesses thousands of dollars by reducing floor space, rent costs and power consumption. As per VMware, companies using virtualization software have benefited from an average savings of 16%, or about $700,000 a year for a 5 megawatt datacenter. Furthermore, Google and Intel have cofounded the Climate Savers Computing Initiative in 2007 to promote the adoption of smart technologies to improve a computer’s power delivery and reduce the energy consumed in an inactive state. This initiative is aimed at reducing the global CO2 emissions from computers by 54 million tons annually — equivalent to the yearly output of 11 million cars. Additionally, start-ups and entrepreneurs are also using innovative green technology to create a global presence. Some of the major developments include groundbreaking technology that possess the ability to stabilize vaccines hence eliminating the need of refrigeration, transparent solar sprays that enable conversion of normal windows into solar-panels, and shoes that generate energy from walking. This continuous focus on satisfying both economic and eco-friendly objectives has created some of the most exceptional forms of green technology. If you have an innovative green technology and want help fast-tracking its commercialization process, RIC Centre is happy to connect you with James Sbrolla, our Entrepreneur-in-Residence who specializes in the cleantech sector. To access our free services and become a client, please click here. If you’re seeking funding to advance your cleantech venture, attend the Sustainable Development Technology Canada Incubator Workshop for tips and advice on grant applications and up-to-date industry information. Areej recently graduated from University of Toronto Mississauga with a specialist degree in Business Administration. She shares her passion for social media marketing by serving as the Communications Intern for RIC Centre. Areej aspires to launch a successful career in the emerging field of business technology management. The RIC blog is designed as a showcase for entrepreneurs and innovation. Our guest bloggers provide a wealth of information based on their personal and professional experiences. Visit RIC Centre for more information on how RIC can accelerate your ideas to market.