NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Wednesday, May 25, 2011

Social innovation is having a dramatic impact on the lives of the poor and under-served-particularly with the use of digital technology. Professor Kamalini Ramdas of London Business School says that innovation in products for the poor is making an impact on their lives in a way that has not been seen before.

Prof. Ramdas describes how a mobile device in Bangladesh increases financial inclusion, while in India, a mobile medical service allows people in remote rural areas to attend virtual clinics with doctors in hospitals in the cities.

Prof. Ramdas argues that social innovation presents a huge opportunity for large corporations to enter into the market for the bottom billion-those at the bottom of the pyramid of consumers.