Founder Portraits: Akhil Sivanandan & Navodit Babel
September 19th, 2019
Akhil Sivanandan and Navodit Babel are the co-founders behind consumer engagement platform Green Story. Green Story works with green companies to create visual widgets on their website that showcase the positive environmental impact behind each of their products, using research-backed data. This allows consumers to have an understanding of the impact behind their purchase. Green Story has been incubated at The Social Ventures Zone since 2016, before they even had their current product!
How did you two meet and end up becoming co-founders?
Akhil: We met during the MBA program at Rotman. As two graduate students interested in sustainability, we would meet up every week to talk about challenges in that industry and how to address them. From starting educational Facebook groups on green products, to sustainability consulting, we explored the gamut of tactics before coming up with this idea on changing consumer behavior that would go on to become Green Story.
Tell us about the journey of starting Green Story and why you wanted to work in environmental sustainability.
Nav: My interest in sustainability emerged from the environmental realities of my native country, India. I saw the situation worsen by climate change and extending supply chains, and co-founded Green Story to encourage a wide-spread adoption of greener, socially responsible choices at both the consumer and corporate level.
Akhil: I’ve always been aware of the impact one person can have on the well-being of the people and planet. I co-founded Green Story to create positive social and environmental change. Our first prototype with Green Story was a spreadsheet model that would allow any company to easily measure their environmental footprint in less than an hour. However, as we tested it around, we realized the bigger problem lied in the lack of transparency and communication between companies and their consumers.
Nav: Through our research we uncovered that most companies were failing to answer the why for green consumers. That is: “Why should I pay twice as much for your green product as compared to a normal one?” This is why many green companies fail, and why the green economy is being held back. We designed Green Story’s solution to make it easy for consumers to understand the why, and for companies to communicate their impact in an easy way.
"Our first prototype with Green Story was a spreadsheet model that would allow any company to easily measure their environmental footprint in less than an hour. However, as we tested it around, we realized the bigger problem lied in the lack of transparency and communication between companies and their consumers."
Why did you decide to apply to The Social Ventures Zone?
Akhil: Our common purpose. As a company aiming to solve environmental problems from a for-profit lens, it was important for us to find the right ecosystem where we could grow our idea in a space that was interested in our environmental purpose and not just the financial upside. When we met Alex and the team behind the SVZ, we were convinced we would be a good fit!
What are the challenges of working in the sustainability industry?
Nav: The biggest issue is funding. Companies focusing on sustainability can build financially sustainable models, but as these are completely non-traditional, it takes a while to find your footing and grow – we’re a great example of that. But once they’re set, they can be trailblazers.
What are you most proud of achieving at Green Story since joining The SVZ?
Akhil: Since joining the zone, we have gone from a team of just the two of us, to 8 full time employees! We’ve also established the business and have clients in over 11 countries. We’re most proud of how our vision has evolved and now we have a concrete plan to work towards it.
Nav: When we started, we knew we wanted to have an impact on the world, and to help consumers make greener choices. We just didn’t know how. Over the last two years, the “how” has become clear, and we’re ready for that next step!
What’s next for Green Story?
Akhil: We’re building a suite of intelligent systems that will completely change how green products are marketed by companies and bought by consumers. We hope to set new standards in green marketing that focus on transparency and credibility. For companies, we hope to turn sustainability into a growth driver rather than a compliance measure. Going the sustainable route can lead to higher returns. We have some big news coming out next week on this!