Innovative Business Model that Creates Nano-curcumin-Based Enterprise (With Respect to Sustainable Enterprise Management)

Abstract

In recent years, research on innovation has shown significant potential for start-up ideas with special reference to turmeric. The nano-curcumin has significant properties of nutritional components and thus has the potential for new business development. But at the same time, due to the competitive market and intervention of global players—in regional markets—industries suffer from various obstacles. In such situation, ‘business model innovation’ works as a core driver to gain competitiveness and superior performance. The paper highlights the Intellectual Property Protection on curcumin-based research and proposes triple helix model that can enable institutions in commercializing IPR that may lead to innovative product development. This study also addresses possible opportunities in nano-curcumin-based product development in the emerging market.