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IFC Report Highlights Husk Power Systems As A Business That Creates Opportunity At The Base of Pyramid
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Wednesday, October 10, 2012:
Leadership, local knowledge, and financial sustainability are key components in creating opportunity at the base of the economic pyramid, according to a new report by IFC, a member of the World Bank Group.
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Launched today, Being the Change: Inspiring the Next Generation of Inclusive Business Entrepreneurs Impacting the Base of the Pyramid highlights the personal stories of the leaders of some of IFC’s inclusive business clients. These clients have developed innovative and successful business models that expand access to goods, services, and livelihoods for poor people, while generating strong financial returns.
“By bringing low-income producers and consumers into their supply chains, these companies are pioneers,” said IFC Vice President, Business Advisory Services NenaStoiljkovic. “Creating inclusive business models in developing economies is a top priority for IFC, and critical in building prosperity.”
Based on interviews with 14 founders and CEOs of IFC client companies, including GyaneshPandey of Husk Power Systems in India, the report identifies a number of lessons on inclusive business, including the need to balance short-term returns with long-term goals and the importance of knowledge of local conditions, needs, and capabilities. The stories also reflect the overarching optimism these leaders share about the future of inclusive business.
Since 2005, IFC has invested over $7 billion in more than 300 companies that focus on inclusive business models in over 80 countries, reaching 250 million people. IFC aims to increase the number of financially sustainable, inclusive business models operating at scale to help address the issue of access to goods, services, and livelihoods for billions of low-income people.
For more information about inclusive business at IFC, including the report, previous publications, and case studies, visit www.ifc.org/inclusivebusiness.
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