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Dr. Martha Machado • General Practitioner • Clinic • Wants to develop full
service lab
Ilena Suarez • Seamstress • Design and makes
adult and children clothing
• Wants to grow
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Iveth Juarez • Powdered drink mix • Wal-Mart Nicaragua
contract • Wants to export
Oscar Flores • Shoes—women, men, children • 19 employees • Exports to Chile and Honduras • Wants to expand export markets
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Jose Iglesias • Manufactures 300 prs. of men’s
work boots per day • Wants to triple production and
develop export market
Enrique & Xavier Sanchez • 3rd biggest Nic. seafood exporter • 4 restaurants • 7 trucks, 70 employees • Wants to build new “green”
processing plant
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Yasmin Gonzalez • Purified water, flavored water, milk in
single serving bags; frozen flavored bars • 8 employees; 600 distributors • Expanding to bottles for cooler
dispensers in offices
Vladimir Delagneau • Alternative energy • 98 employees, 17 offices • Wants to be Central America
leader
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Factor-Driven Economies
Efficiency-Driven Economies
Innovation-Driven Economies
Early Stage Entrepreneurial Activity (TEA)
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Factor-Driven Economies
Efficiency-Driven Economies
Innovation-Driven Economies
Established Business Ownership Rate
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Factor-Driven Economies
Efficiency-Driven Economies
Innovation-Driven Economies
Necessity or Opportunity Driven as Percentage of TEA
• Opportunity • Necessity
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UG ZM GH
PK
GT
EG
AO
CN
TW
JM
EC
TN BA
PE
CO
ZA
BR
MK
CR IR
ME
UY
TR
MY
RO
CL
MX
AR
LV
RU
HU
HR
SA
PT
TT
SI
KR IL
GR
IT
JP ES
FR FI
BE
DE
UK
DK
IS
SE
AU NL
IE
SW
US NO
0
5
10
15
20
25
30
35
0 20 40 60
Perc
enta
ge o
f 18–
64 p
opul
atio
n
GDP per capita in Purchasing Power Parities ($), in thousands
DK IT BE MY NL SE UK SW IS
SI SA PT FI DE
ES NO JP
RU RO HU AU TN
FR GR IL HR MX
IE TT US GT KR
TW LV UY
IR
TR BA PK EG CR
JM MK
ZA
CL AR
BR
ME PE EC CN BO
CO
ZM
AO
GH
UG
VU
0
2
4
6
8
10
12
14
16
18
20
0 20 40 60 GDP per capita in Purchasing Power
Parities ($), in thousands
Necessity-Driven Early-Stage
Entrepreneurial Activity in 2010
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Multi-nationals unlikely to fill this market need Requires change of strategy, products,
processes Multi’s avoid disruptions Cater to most profitable customers and
highest margins Provides opportunity for new competitors
(Christiansen, 2003)
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Adequate and safe water 1 billion lack water 2 billion lack sanitation
Housing Cheap and reliable power
75% of poor live in rural areas
Agricultural and transportation systems Manufacturing Telecommunication “leapfrogs”
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Entrepreneurship and Value Creation
Social Entrepreneurship
Commercial Entrepreneurship
Economic Value Social Value
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Entrepreneurship and Value Creation
Social Entrepreneurship
Commercial Entrepreneurship
Economic & Social Value
Primary Economic Value
Primary Social Value
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Entrepreneurship: Connecting the Value Chain Continuum
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• Founded by Dr. Karsanbhai Khodidas Patel
• Manufactures cosmetics, soaps, detergents, salt, soda ash
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Agroelectric System of Appropriate Technology (STA)
FáBIO LUIZ DE OLIVEIRA ROSA
• Sells photovoltaic solar energy to rural areas of Brazil
• Packages the solar energy system with inexpensive electric fencing of polywire and fiberglass posts
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WAY Systems MTT Wireless Terminal
• The WAY Systems MTT is just a little bigger than a cell phone, but has the functionalities of an advanced credit card terminal
• Co-founded by Damien Balsan while a student at MIT’s Sloan School of Management
• Became the leader in international point of sale devices
• Acquired by VeriFone in 2010
Damien Balsan, co-founder
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Waste Concern Company
• Turns high organic waste into compost that could be sold as a substitute for chemical fertilizer
A.H.Md. Maqsood Sinha
Iftekhar Enayetullah
• Formed a joint venture with Map Agro, the largest fertilizer company in Bangladesh
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• Leading telecommunications service provider in Bangladesh
• More than 32 million subscribers
• For Profit
• Teaches the poor to use telephones for entrepreneurial purposes
• More than 250,000 jobs for micro-entrepreneur “village phone ladies”
• Not-for-profit company
Joint Ventures
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• Design and sells handbags made by Vietnamese women
• Distributed through boutiques, department stores, and the internet
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Matt Flannery with a borrower
• Kiva allows microfinance institutions around the world, to post profiles of qualified local entrepreneurs on its website
• Lenders browse and choose an entrepreneur they wish to fund
• When loan is repaid, lenders can withdraw their principal or re-lend it to another entrepreneur
• Interest is retained by the microfinance institution
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• Product Development • Manufacturing • Distribution
• New Delivery Models • Robust Products (dust,
heat, humidity)
• Reduction in Resources • Recycling • Renewable Energy
• Investment • Margins • Volume
Price Performance Quality
Sustainability Profitability
Bottom of the Pyramid Business Models
C.K. Prahalad & Stuart L. Hart