The challenges of entrepreneurs to develop renewable energy businesses in Kutubdia, Bangladesh : A comparison through the lens of local, industry and institutional perspective.

Abstract: This paper explores the Renewable Energy in Bangladesh and identifies the current challenges for renewable energy entrepreneurs to develop sustainable and reliable energy generation prospects across the country. Theoretical frameworks are developed through the concepts of industry, society, and government and value creation. Purpose- The purpose of this study is to identify the existing challenges of renewable energy entrepreneurs in Bangladesh and realize how based on these challenges there can be value created across renewable energy industry. Literature review- The literature review includes different concepts that are crucial when determining the current challenges that entrepreneurs face in renewable energy industry. Those include local and community perspective, industry related aspects like technology, innovation, and governmental matters. Based on the literature review theoretical concepts were created. Methodology- Interpretivism and inductive approach was used in the form of qualitative research design. Two forms of empirical material are used- survey with local people from Kutubdia region and semi structured interviews with 3 entrepreneurs. Surveys were conducted through Google Forms and interviews through online face to face meetings. Thematic Analysis were used to identify the reoccurring patterns. Findings- Main challenges can be divided into community, industry challenges and institutional inefficiencies. Societal challenges are related to lack of education, knowledge, job creation and trust. Industry related challenges are in the form of weak infrastructure, lack of suitable workforce, slow innovation, and access to R&D. Governmental challenges are connected to lack of financing and investing possibilities, high corruption, lack of well- structured policies and tax initiatives. Based on identification of challenges it is possible to set up framework for value creation across the industry.