New strategies for building BoP ecosystem

ANI | Updated: Apr 20, 2018 17:59 IST

New Delhi [India], Apr. 20 (BusinessWire India): The Enterprise for a Sustainable World (ESW) and Ecociate, in collaboration with the BoP Global Network Labs, have organised the 3rd BoP Global Network Summit.

Today's event at Habitat Center New Delhi has built upon on the 2nd BoP Global Network Summit: "Sustainable Entrepreneurship from The Bottom Up" held in 2015 in Burlington, VM-USA, which brought together corporate innovators, academics, entrepreneurs, community leaders, students, and BoP Global Lab leaders from more than 25 countries and they added up to more than 2 billion people, one third of the world's population.

Minister of Commerce and industry, Suresh Prabhu as Chief Guest and keynote speaker for the event emphasised on the ideas of economic growth leading to natural improvement in the quality of life. He mentioned, "India's growth stories cannot follow any of the existing economic theories or global models. It's time to create unique theories based on problem diagnostic and holistic solutions in nature. The environment is holistic as each one of us is inclusive on the planet."

Dr. Stuart L Hart, the founder of BoP Global Network has played an integral role in helping to catalyse it around the world.

He shared, "The time has come for companies in India to leverage the CSR law to launch actual new business initiatives aimed at solving and environmental problems. The BoP Global network summit is aimed squarely at the objective. While we have made substantial headway in alleviating poverty over the past two decades, we have yet to effectively engage the billions of underserved, low-income people around the world who earn between USD 2 and USD 10 per day per capita. The BoP Global network summit forums in how the enterprise needs to have effectively serve and lift this massive and growing demography."

The event was attended by a strong and mutually aligned network and partner in the ecosystem including academia, government, development agencies, local entrepreneurs, and NGOs.

Representative from 26 countries

200 Participants

12 BoP Labs

40 percent Enterprise participation

14 Academia

20 percent NGO

The 2018 BoP Global Network Summit focused around three emerging strategies to be responsible towards the environment, effectively reach and served the base of the pyramid and enable inclusive growth

Beyond Environmental Degradation: Toward BoP Circular Economy Strategies

Beyond Pipelines: Toward BoP Platform Strategies

Beyond Selling to the Poor: Toward BoP Market Engagement Strategies

The session during these 3 strategies was based on creative ways to build more effective ecosystems, networks and explore the frontiers through plenary sessions featuring state-of-the-art practice, followed by working sessions to build and accelerate momentum toward making them a reality.

The field visits of more than 30 participants were made yesterday to three different locations- the Mohalla clinic the largest paddy market in India, a last mile health care centre, and the waste to energy plant to gain firsthand experience of the touch points of BoP communities.

India has more than 810 million (81 crores) people in BOP (Base of the Pyramid) category. These marginalized Indians earn less than USD 2 per day. In the last 20 years, Parliament has enacted laws Like Food Security Act, MNREGA, Right to Education and the Government of India also has taken large policy measures like JAM (Jandhan-Aadhar-Mobile), Free Family medical Insurance, EGM (Employment Generation Mission) to create an ecosystem for their sustainable income levels.

Despite having statutory acts enacted by Parliament and inclusive policies Indian Government needs to implement in mission mode mega initiatives to enhance the income level of BOP farmers (Kisaans) and create sustainable employment with a steady income for BOP youth. (BusinessWire India)