Much of the work showcased on MajorityMarkets.org has to do with what companies are doing to adapt their business models to better engage with the untapped human potential at the base of the pyramid. As one of our bloggers put it, companies can’t simply do what they’ve always done in order to succeed in this new sphere – they need to learn what it is to do “business as unusual.” There are many ways in which companies can achieve this, from learning new commercial strategies to developing new technologies. So, how will the innovators of the future get interested in solving the problems facing the world’s poorest citizens?
On December 14 and 15, the Inter-American Development Bank’s Opportunities for the Majority initiative (OMJ) is collaborating with the Chilean organization Un Techo para mi Pais (“A Roof for My Country”) on a workshop to be held in Santiago de Chile. The event aims to explore the potential of promoting technology innovation in both the business and academic communities, in order to bridge the gap between engineering and social entrepreneurship in the region.
Un Techo para mi Pais, which works to provide housing for the poor, was founded in Santiago in 1997 as Un Techo para Chile, and began expanding operations into other Latin American countries in 2001. Today it constructs homes in 15 countries across the region. However, like so many other organizations that set out to address a central problem at the base of the pyramid, Un Techo para mi Pais has found that a whole range of issues must be taken into account in order to truly have an impact on poverty. For example, giving a family a home is a wonderful and life-changing act, but it does not instantly transform that family’s fortunes. Un Techo para mi Pais now has a Center for Social Innovation, through which it supports new homeowners in working together on solving problems related to health, nutrition, financial access, and much more.
University professors from nine countries will participate in the upcoming “Technological Innovation for the Base of the Pyramid” workshop. Typically, an event like this would draw participants mainly from economics departments and business schools, but this workshop is primarily directed toward those who train the engineers and industrial designers of tomorrow. The academics will be introduced to the challenges and rewards of working with the base of the pyramid through learning about the programs of Un Techo para mi Pais, and the role OMJ plays in supporting the business community’s involvement in majority markets. Then, they will have some time to start brainstorming about new ways to reach these markets more effectively and on a larger scale.
Un Techo para mi Pais and OMJ hope that this workshop will offer a new perspective on the significant role engineering may play in promoting social entrepreneurship and creating cutting-edge opportunities for the private sector to keep innovation flowing to the base of the pyramid. Technological advances are often the key to making a product or plan more successful in majority markets, allowing goods to be made more cheaply, distribution networks more efficient, and information sharing more effective.
If brilliant inventors, motivated entrepreneurs and the private sector work closely together, the results could be astonishing. Where this will all lead won’t be known for years, but watch this site for updates about what’s discussed in Santiago this month.
