The Base of the Pyramid Laboratory designs a strategic program with Innobasque to boost the development of low income inclusive businesses in the Basque country.
The Base of the Pyramid business models dispose of great potential for innovation in the area of sustainable social and business development. Due to economic disparity, low income communities cannot participate in the global market economy, despite the fact that they represent the greater percentage of the world population. The low income world community is composed of an estimate of 4 billion people, according to the World Bank’s projections of 2002, which in fact will have an exponential growth during the next 40 years. This is the world’s largest growing community. It is predicted that by 2050, close to 85% of the world population will reside in developing countries.
The companies that develop business activities in these sectors will have important professional growth opportunities, due to their products and services that can generate sustainable development models in the social and environmental area.
Although the socioeconomic network in the Basque country has demonstrated cultural sensibility towards social development, there is still no knowledge of extended growth within inclusive businesses, which is logical due to the recent trajectory of this concept. Conscious of their opportunity limitations, Innobasque has promoted an innovative initiative to incentivize the development of inclusive businesses and has been responsible for low income communities as a means to boost business growth and social development. Through contract, Innobasque is working with the Base of the Pyramid Laboratory in order to carry it out.
Following this program, a diagnostic has been elaborated “The Base of the Pyramid Under the Prism of Euskadi – A Diagnostic About the Potential of Innovation at the Base of the Pyramid” and a series of presentations and courses planned in order to evaluate the potential of the organizations and visionaries that could participate in a mission of immersion at the BOP. In a similar way, an exploratory mission to Brazil will be organized in order to assess inclusive businesses that can be developed between Basque companies and local Brazilian counterparts.