BoP Innovation Center (BoPInc) and partners (among others Fresh Studio) published the fifth and final publication of the series on the inclusive innovations process at the Base of the Pyramid (BoP), named ‘The process of innovation to create inclusive business’.
The publication ‘The process of innovation to create inclusive business’ is the final publication in the Three Pilots for Pro-Poor Innovation (3P4PPI) series and discusses experiences and insights gathered from implementation on market-driven pro-poor innovations in Bangladesh, Ethiopia, Kenya, Rwanda and Vietnam.
One of the main challenges for companies, international organizations and NGOs who embark on creating new business opportunities in BoP markets, are optimizing the outcome of the innovation development and to cope with high level of uncertainty inherent in inclusive innovations.
The Three Pilots for Pro-Poor Innovation (3P4PPI) consortium has been able to test a BoP Innovation Cycle, which represents the iterative phases within the process of inclusive product and service innovation development. Developing innovation at the Base of the Pyramid requires a specific approach. The cycle goes from identifying opportunities to the actual implementation of it. Key business dimensions of a BoP venture are developed in each phase. The acquired knowledge is used to improve the BoP Innovation Cycle.
The publication is available through download on the BopInc website