The application period for the G20 Challenge has closed. Winners will be announced between June 17-19 at the G20 Summit in Mexico.
The G20 Challenge on Inclusive Business Innovation is a global search for businesses with innovative, scalable, and commercially viable ways of working with low-income people in developing countries.
Businesses around the world are finding innovative ways to work with low-income people living at the base of the pyramid (BOP), working with them as suppliers, distributors, retailers, or customers. These firms are called inclusive businesses. Developing an inclusive business model that addresses the particular needs of people living at the base of the pyramid is an accomplishment. Scaling that model and replicating it in new markets is a challenge.
By recognizing businesses that have already succeeded in developing innovative, scalable, and financially sustainable inclusive business models, the G20 Challenge provides a global platform for all businesses to learn from successful leaders in the growing field of inclusive business, and enables these leaders to come together and develop linkages with other inclusive businesses. When fellow innovators have the opportunity to exchange ideas and experiences, who knows what new business opportunities may become possible?
The Group of 20 and IFC, a member of the World Bank Group, have launched an online competition to find the best examples worldwide of businesses in developing countries that provide critical goods, services, and livelihood opportunities in financially, environmentally, and socially sustainable ways to those living at the base of the pyramid (BOP), called ‘inclusive businesses’. Continue reading
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