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| Innovations >> Need for Innovations |
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| Need for Innovations |
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Why do the under served need Innovation?
The underserved at the bottom of the pyramid require innovations in product and finance for them to afford and access these energy services. A combination of innovations in products, finance, supply and the service can ensure that reliable and affordable energy can be used to improve the quality of lives of the poor, rural households.
Why has it not happened?
- Financial Risk: Large and small financial institutions are unable to visualize the long term benefits thus leading to absence of financial innovations.
- Technology Innovations: Manufacturers try to sell products designed for the developed markets to the BOP market. They are unable to judge the needs of the end-users thus leading to absence of product innovations.
- Lack of Commitment: Most organizations do not consider innovations for the BOP market a main priority for the company’s business so the adequate management infrastructure is not allocated to put aside budgets for innovations.
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