LIBA Establishes India’s First Research and Innovation Center for BOP
Monday, August 8, 2011
LIBA (Loyola Institute of Business Administration), among India’s leading management institutes today announced the establishment of “Prof. C.K Prahalad Center for Emerging India’, India’s first research and innovation center focused exclusively on BOP marketing and among the early pioneers across the globe in this space. The center will be a key landmark to India’s growing BOP market estimated at 835 million and recognized as among the largest globally, besides emerging as the first such focused attempt to fuel the country’s increasing efforts to innovate in this market. The center was formally inaugurated today by M.K Narayanan, West Bengal Governor and K.V Kamath, Chairman, Infosys Limited at a function organized by LIBA. Mrs. Gayathri Prahald, wife of late C.K Prahalad and other prominent business leaders who attended and spoke at the event are Mr. Venketrama Raja, MD & CEO, Ramco Systems Limited; Fr. P. Christie, Director, LIBA; Fr. Casimir Raj, Director, Prof. C.K. Prahalad Centre for Emerging India; Prof. Bala Balachandran, Professor Accounting Information & Management, Kellogg School of Management, Northwestern University, Dr M. S. Krishnan, Professor & Chair of Business Information Technology, Michigan Ross School of Business Mr. Gopal Srinivasan, CMD, TVS Capital Funds Limited; Prof. Jay Amaran, Vice President, Global Determinants, Inc. USA; Dr. Sridhar Mitta, MD, Next Wealth Entrepreneurs Pvt. Ltd; Mr. R. Gopalan, Secretary, Economic Affairs, Govt of India; Fr Sebasti L. Raj, SJ, Governing Body Chairman, LIBA , Mr D. Shivakumar, MD & VP Sales, Nokia India and Mr. Bhadrashyam.H. Kothari, Chairman H.C. Kothari Group of Companies, President, Loyola Alumni Association
Prof. C.K. Prahalad Centre for Emerging India will focus on research in the areas of strategy, innovation and entrepreneurship appropriate to the base of the pyramid and will primarily work towards addressing the current gap between idea generation and scaling up into viable business opportunities. The center will work on the primary premise of fostering BOP 2.0, a more democratic model of the initial concept that will view the BOP market as co-creators and co-owners and as an enormous untapped resource of human capital, vis a vis mere consumers. Under this approach, local communities get much more than simply new products and services; they generate jobs, entrepreneurial skills, new income, economic and social development.