Khemka Forum on Social Entrepreneurship 2012
Innovations in Business Models, Processes, Products and Partnership
FMCG companies tap only about 2% of all Indian villages with their traditional distribution networks; an opportunity goes a-begging as the 98% have the potential of becoming promising markets when rural retail is redefined to suit local conditions21% of Indiaâs population is undernourished and about 7% of Indiaâs annual grain production goes waste due to inadequate storage facilities and poor distribution networks, creating the need for innovative business models to address the situation Only 10% of the expenditure around the world on health research is dedicated to problems that primarily affect the poorest 90% of the world's population â a situation coined by the Global Forum for Health Research as the 10/90 gap
Without doubt, traditional processes and "business-as-usual" has its limitations in meeting the needs of the BOP and innovation is the key that will drive change in todayâs world. And yet, resources are mostly dedicated to research and innovation for causes that have little meaning for those who are economically disadvantaged. Plagued by the âBOP penaltyâ of access to expensive products of low quality, these populations are served by uncompetitive markets that lack linkages with the global economy. They are therefore unable to benefit from new technologies and innovation. With almost half the worldâs population below the poverty line, the goal of innovation that aims to serve the economically disadvantaged should be to reduce costs while ensuring that products remain of high quality.
Easy to say, but the question remains, how do we achieve high quality at price points affordable to those at the bottom of the pyramid?
How do we re-design and re-engineer products to create âhuman-centeredâ designs that meet the specific needs and wants of those at the bottom of the pyramid?
How can these innovations be commercialized, launched and grown into new successful businesses?
These and many other challenging questions on innovation for enhancing social impact will be discussed at the 4th edition of the Khemka Forum on Social Entrepreneurship. Join us as we celebrate the spirit of innovation in business models, processes, products and partnerships
For a full report on the Forum Click Here