A Case Study on Sustainable Entrepreneurship in Climate Tech Startups: Focusing on the BMfSI Framework

This study analyzes sustainable entrepreneurship in climate tech startups through a multiple case study of UNLIMEAT(Jiguin Company) and AETECH, applying Lüdeke-Freund’s (2020) Business Models for Sustainability Innovation (BMfSI) framework. The framework conceptualizes how sustainability innovations evolve into business cases for sustainability via business models within socio-technical contexts. The analysis examines each firm’s sustainability innovations, business model design, engagement with public policy, private investment, stakeholders, and barriers to innovation. UNLIMEAT(Jiguin Company), representing food tech, utilizes surplus agricultural produce and grains to develop, distribute, and commercialize alternative meat, pioneering domestic zero-waste production systems. AETECH, in the eco tech sector, developed “AITRON,” the first AI-based waste-sorting robot in Korea, and the AIRO-MRF smart waste management solution, creating fully automated, unmanned smart factories that transform the resource circulation value chain. Both firms have established virtuous cycles in the food ecosystem and resource circulation, illustrating pathways for operationalizing sustainable entrepreneurship. The findings offer theoretical insights into the implementation of sustainable entrepreneurship and practical guidance for policymakers and private investors supporting climate tech ventures.