NextBillion - A WDI Publication

In the quarter century since the bottom of the pyramid concept gained widespread interest, hundreds of thousands of ventures and billions in impact investment have produced a mere handful of winners — mobile money being the most notable, and perhaps only true commercial success. It’s an extraordinary failure rate, even accounting for the inherent risk of new ventures. The culprit isn’t lack of effort, money, or startup ecosystems. It’s how social impact startups are taught to design, test, and validate.

Lean startup bakes failure into social impact ventures’ DNA, then traps them in long, costly, and potentially fruitless validation cycles. Patient capital acts as an enabler — propping up “zombie” ventures that will forever depend on concessionary funding to survive, let alone grow. There is a better way.

Session 1 · April 8 · The Problem
Why Lean Startup Undermines Social Impact Ventures
Unpacks how the lean startup approach undermines any venture’s path to profitability — and why the BOP context makes it especially damaging. Includes the financial mechanics that trap ventures in permanent dependency on concessionary capital.

Presenters
Erik Simanis, PhD
Co-Director, Built to Hold Venture Design Lab · Cornell University
30 years experience leading and guiding over two dozen ventures across a wide range of industries, including health, financial services, education, energy and mobility. Dr. Simanis’ work is published in Harvard Business Review, MIT Sloan Management Review, and Wall Street Journal.

Patrick Donohue
Co-Director, Built to Hold Venture Design Lab · Cornell University
Product and innovation leader with 20+ years at Facebook, Automattic, Rockwell, and mission-driven startups. A 0-to-1 venture builder, he’s led both corporate innovation and startups and coaches product and engineering leaders at OpenAI, Anthropic, Gusto, and beyond.

Time: 10:00 AM ET

Join WRI India for the launch of the Keep Cool Innovation Challenge on 9th April 2026!

Through Keep Cool, we will identify and support affordable, scalable solutions for India’s most vulnerable communities — targeting thermal comfort in homes, workplaces, schools, and commutes, and reducing the impact of heat stress on health, productivity, and livelihoods.

We’re looking at innovations that fit three categories:
❄️ Design Solutions (e.g. materials, passive cooling)
❄️ Cooling Technologies (e.g. evaporative cooling, cold chain)
❄️ Personalized Comfort Solutions

At the launch webinar, hear from leading voices across climate, public health and the investment ecosystem on why cooling innovation cannot wait — and learn more about how you can get involved.

Time: 05:30 AM EST