inclusive innovation halme wb_08062012

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  • 1. 6/11/2012 Inclusive innovation for low-incomeemerging marketsProfessor Minna Halme, Aalto University Schoolof Economics, June 8, 2012 Minna HalmeObjectives of the training this session Minna Halme1

2. 6/11/2012Low-income emerging markets (or the Base of the Pyramid)4 billion peoplelive with lessthan 5 (PPP) perdayMinna Halme ParadoxesMinna Halme 2 3. 6/11/2012Inclusive innovation at the BOP Making it real Minna HalmeVictims, resilient entrepreneurs or?Making itreal6Minna Halme 3 4. 6/11/2012What solutions work?Making itreal7Minna Halme Making it realInitiators range from multinational companies to SMEs, social enterprisesand non-governmental organizations.Real examplesMinna Halme 4 5. 6/11/2012Microfinance over the internetPROBLEM: Subsistence entrepreneurs have too littlemoney or cant get bank loans.SOLUTION: MyC4 is a microfinance bank operatingthrough the internet since 2007. MyC4 grants loans to small enterprises in African countries Investors are individuals and organizations in developed countries. Making it Each investor can choose the loan recipient, follow real how the enterprise succeeds and can also give advice. Local providers in Africa screen prominent entrepreneurs.REVENUE MODEL: MyC4 charges a 6% interest feeon the loans when they are repaid.OUTCOME: Over 19,000 investors from 115countries have invested over 15 million throughthe MyC4 website. Over 8,000 businesses inseven African countries have been funded. ITC eChoupal procurement hubs for farmers in IndiaProblem of subsistence farmers: Didnot used to get a fair price of theirproduce in mandis (agriculturalmarketing centres) due to unfairMaking it practices of middlemenrealProblem of ITC: Did not get goodquality commoditiesThe e-Choupal programme linksrural farmers via the Internet withbuyers of agricultural products likesoybeans, wheat and coffee.EffectsAround 4 million farmers have been Lets see ourselves: empowered in 10 states of India where40,000 villages have 6,500 eChoupals http://www.youtube.com/watch?v= Fx4gukMYTGA105 6. 6/11/2012Grundfos LifelinkPROBLEM: Lack of safe drinking waterSOLUTION: Water systems for rural communities, schoolsand hospitalsMaking it realIt is crucial to develop community ownershipUsers pay with mobile phone & pre-paid key fob (RFIDTechnology).Local banks participate in financingSolar panel is power sourceMaintenance and repair costs are included in the waterpriceOn-line remote monitoring with GSM/GPRSQuick repair in case of faultsLocals have been trained as repair mechanics Minna HalmeLargest eye care facility in IndiaMission is to remove needless blindnessMany eye care services, with the cataract lensesurgeries and provision of affordable ophthalmicproducts worldwideLets see ourselves:http://www.youtube.com/watch?v=3cjnNPua7Ag6 7. 6/11/2012 BOP innovation: What lessons to learn?Making itrealHalme Jan 18, 2012Making it real:What can governments and IGOs do?Making itreal Minna Halme7 8. 6/11/2012Thank you! Professor Minna Halme For information: http://management.aalto.fi/en/research/groups/bop/ & www.aaltoglobalimpact.org/ Minna Halme 8

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