As global trends: environmental, social, technological drivers continue to shift the foundations of current business models. Incremental innovation stand alone has become less sufficient in enabling industries to succeed. Identifying the need for adopting fundamentally different approaches to innovation, United Nations Environment Programme (UNEP) introduced “Eco Innovation”. The concept aims to fully uncover its value creation potential for a company through incorporating sustainability. Project is being implemented in 6 agri-food industries (Dairy, Cinnamon, Desiccated Coconut, Fruit processing and soy manufacturing) in Sri Lanka for last one and half years mainly targeting to increase profitability through a critical analysis over life cycle of companies. Concept is being proven by UNEP publishing case studies from different countries that it brings out increased performances of businesses.