Ecopreneurship refers to a management philosophy whereby the business efforts of the entrepreneurs are not just only motivated by profit, but also by a concern for the environment. It is also called environmental entrepreneurship and eco-capitalism. It is a new market-based approach which identifies the opportunities for improving environmental quality and capitalizing upon them in the private firm for profit. Entrepreneurs are encouraged to pursue sustainable development while maintaining environmental balance. Entrepreneurs cannot ignore environmental issues while expanding and diversifying their business activities.
In present entrepreneurship literature and practice, a new stream of research has been launched which emphasizes on consideration of three dimensions of entrepreneurship activities consisting of economic, social, and issues. In similar way, in the present time entrepreneurs should consider social and environmental issues along with the aim of fulfilling economic objectives. Priority should be given to addressing the negative impact of economic activity on the social and environmental conditions of the surrounding area. Ecopreneurship is based on three pillars: innovation, caring for the environment, and long-term sustainability of business.