Major corporations have demonstrated no meaningful interest in the bottom-of-the-pyramid market, and it seems unlikely to do so in the future because it squanders resources. Who will fix this disconnect?
The latest issue of the Economist highlights old businesses and technologies that should, according to the theory of disruptive innovation, be dead or dying—think: mechanical watches, local bookstores, vinyl records. Yet these and other traditional industries are enjoying huge revivals. What gives?
Living with first world amenities can cloud an individual's perspective on innovation. Switch the lens through which you view innovation, and take note of where it is taking place all around the world.
Five years ago, Steve Bachar and I decided to invest in companies capable of transforming the livelihoods of at least 100 million customers living on $2 a day, generating at least $10 billion in annual revenues and earning sufficient profits to attract commercial financial investment. There was only one problem. We couldn’t find any.
There is an opportunity for social entrepreneurs to fix the riddle of getting the product to the end consumer in underdeveloped countries. Read why many ideas have failed and why some approaches might just eradicate the problem.