Innovation and Social Entrepreneurship in Dev. Economies
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Innovation at the Bottom of the Pyramid Impacts Comfort
As a common practice in the poor countries, sharing mobile phones allows many of these customers to use their own SIM card and switch it in and out when borrowing a mobile device. However, this may be inconvenient as it is not secured and sometimes costly. Nigel Waller, founder of Movirtu, a British start-up, developed cloud software for people too poor to own their own mobile phone. The cloud phone offers a cheaper, more convenient alternative because it gives individuals who cannot buy a handset their own phone numbers and mobile services. This model presents mutual advantages for both the poor as well as the start-up. In other words, their service is priced for base-of-the-pyramid customers and the mobile network carriers get a piece of the action. This model is a demonstration that innovation can spur ventures that sell services aimed at the poor in a way that creates value at the base of the pyramid as well as to the investors. The business model implemented by Morvitu provides an opportunity to assess how effective a venture is for the poor. It also raises the question of knowing whether the providing services at the Bottom of the Pyramid at a cost, can provides value for the poor. In terms of reducing poverty, this model offer the practicality consumers’ desire combined with more convenience for less money.
The Role of Impact Investors at the Bottom of Pyramid Ventures Raising funds to finance a venture at the Bottom of the Pyramid is a common challenge many ventures face. For any social entrepreneur, it is...
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