Role of Technology, Business and Policy in Supporting Inclusive and Grassroots Innovation

Innovation is considered as a driver for growth, and it is expected that in the long-run it will improve the welfare of all. The concept of inclusive innovation emerged in response to this reality. It is particularly relevant to less developed countries. The objective of this paper is to discuss the role of business, technology and policy in supporting inclusive innovation. The methodology of the study consists in exploring the enormous potential of the Bottom of Pyramid (BoP) market and evidencing the unmet needs of consumers in BoP. The results put in evidence the opportunities for business of inclusive innovation, how the large national company conducts its business in a difficult environment, the role of multinational companies that can make more substantial investments to overcome barriers, social business undertaking inclusive innovation which need a substantial donor or government support, the non-profit sector which is currently operating in a rapidly changing environment, enablers of inclusive innovation, multinational companies technology, the role of Government policy and drawbacks of policies supporting inclusive innovation. Conclusion revel that BoP market creates many challenges to business that should be carefully navigated: very low purchasing power, lack of information, limited infrastructure and distribution challenges.