After I wrote my post titled "Innovation Lessons from the BoP" it struck me that it would be far more appropriate a post for CPH127’s global focus on design and innovation. It’s a very long article, so I’ll repost an excerpt below for context. I look forward to discussions on what we can do to assist those at the bottom of the pyramid with their efforts in innovation and design.
Prahalad states, in the introduction to his book Fortune at the Bottom of the Pyramid, that:
If we stop thinking of the poor as victims or as a burden
and start recognizing them as resilient and creative entrepreneurs and
value-conscious consumers, a whole new world of opportunity will open
up.IMHO,
the focus of the world, however, has been on the products and services
that can be designed for the BoP, they have been recognized as
"value-conscious consumers", which is but one aspect of Prahalad’s
assertion. The other side of the story, less visible in the public eye,
is the opportunity to co-create with those he recognizes as "resilient and creative entreprenuers".The question, that arose in my mind, after reading this recent article, is "Where
is the venture capital, the product development support and the
marketing opportunity for the innovations that rise UP from the bottom?" It seemed to me, that all I ever read about were products FOR the BoP.Now there is an opportunity to really make a difference. As Prahalad says, four billion* poor can be the engine of the next
round of global trade and prosperity, and can be a source of
innovations.
One comment so far
Couldn’t agree more: the BoP is not merely a mass of potential passive consumers, but also 4 billion* creative individuals who are looking to ways to break into the formal global economy with their creativity and enterprise.
Now why is it that so-called “National Design Policies” do not address this aspect and instead limit themselves to lobbying on behalf of a few thousand ToP (interesting wordplay, huh?) elite?