As we face escalating environmental challenges, some companies are exploring nature-based solutions including biomimicry, which advocates for designing models that emulate nature’s wisdom to solve complex human problems. These are the conclusions from Andrea Camargo, the founder and director of innovation the ReFi Collective, based in Bogota, Colombia, which helps clients innovate with nature-based solutions.
Heraclitus said, “nothing endures but change,” a philosophy that seems incredibly relevant in our current business climate. We live in a time of volatility, uncertainty, complexity, and ambiguity, much like our early ancestors. They also had to adapt to climate changes, migrations, wars, and disruptions. Today, these challenges have evolved and multiplied, compounded by rapid technological advancements, environmental degradation, global pandemics, and more.
For inspiration in reimagining business practices, many businesses are turning their gaze towards the natural world, a realm teeming with abundance and resilience. Nature-based solutions, defined by the European Commission as “solutions inspired and supported by nature, which are cost-effective, simultaneously provide environmental, social, and economic benefits and help build resilience.” This includes biomimicry, which advocates for designing models that emulate nature’s wisdom to solve complex human problems while benefitting biodiversity, people, and the environment.
Biomimicry can apply to businesses that operate multi-sided platform marketplaces. Instead of viewing consumer and producer segments as independent entities, a biomimicry-inspired business perceives them as interconnected parts of a complex ecosystem. The value propositions are tailored to reflect a symbiotic relationship, evoking the reciprocity seen in natural pollination.
Monetization in a biomimicry-based business becomes a process of value exchange rather than a mere transaction. It’s not just about money; it’s about the transfer of value in various forms, much like a tree offering fruit to animals that, in turn, disperse its seeds. Additionally, businesses should aim to optimize their cost structures, mirroring the efficiency of nutrient cycling in a forest.
A biomimetic memetic approach to venture design offers an atypical path to design and operate a business that is resilient, adaptable, and balanced and promotes sustainability and harmony with the environment. As we face escalating environmental challenges, the time is ripe to ask: How can we adapt this approach in our businesses to create a future where both nature and businesses flourish together?
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