BASE: The 1st International Forum for the Development of the Base of the Pyramid in Latin America and the Caribbean
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A Letter from the Manager of the Opportunities for the Majority Initiative Five years after that conference, the IDB held the BASE Forum, and instead of talking about research and new theories, we had results to present: the Opportunities for the Majority portfolio of investments in business projects that are already changing the lives of millions of people in our region, plus dozens more speakers eager to share their own success stories. What President Clinton described is exactly what BOP business models are doing.
Earlier this year, I had the great honor of hosting, together with IDB President Luis Alberto Moreno, the 1st BASE Forum for the Development of the Base of the Pyramid in Latin America and the Caribbean. As a Brazilian, it gave me extra joy that we held this event in São Paulo. In June 2006, the Inter-American Development Bank held a conference in Washington, titled “Building Opportunity for the Majority,” to launch a new initiative that would focus on promoting and supporting base of the pyramid business models, which at the time were a new tool that was just beginning to be recognized and understood by the private sector and by international development organizations.
At the BASE Forum, where we brought together almost 800 business leaders, development professionals and government figures, we found that private sector companies in our region are indeed interested in learning about business models that connect them to the emerging middle class, and that give them a role to play in the development of this ever more vibrant and diverse country. These concepts are reaching across the continent—and we all have work ahead of us to put them into action.
Former U.S. president Bill Clinton joined President Moreno for the centerpiece of the conference, a wide-ranging dialogue that touched on topics from trade to immigration to the global fight against AIDS, but the conversation kept returning to the urgent need to engage with the world’s poorest people, and enable them to move up into the middle class. As Clinton said: “We need to think of systematic things… that will change the framework of what is possible for the working poor… [and] empower them to create a whole new future for themselves, their communities and their nations.”
I am pleased to share these resources from the 1st BASE Forum and hope they will inspire you to join us in this great work. Luiz Ros Manager, IDB Opportunities for the Majority Initiative
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The BASE Forum: The Basics Through new kinds of loans, families can enter the formal economy for the first time, buy a house or start a business, and gain a little financial security. Job training programs let eager but unskilled workers earn a decent living and also make it possible for companies to grow faster. As the poor gain access to better education, health care and nutrition, they are better able to contribute to the economy and society around them.
On June 27 and 28, 2011, the Inter-American Development Bank held its first major conference on Base of the Pyramid business models and their potential as a tool for reducing poverty. Organized by the IDB’s Opportunities for the Majority Initiative, the 1st BASE Forum for the Development of the Base of the Pyramid in Latin America and the Caribbean brought over 700 leaders in fields ranging from business, academia, government, international development and the nonprofit sector together in a hall at the Fecomercio conference center in São Paulo, Brazil.
But it is not only the poor who benefit from these new opportunities. Increasingly, major corporations are viewing inclusive business as not just philanthropy or “corporate social welfare,” but as something they should embrace in order to retain a competitive advantage and connect with valuable consumer and labor markets. The conference agenda included presentations by executives from several large multinational and Latin American firms, such as:
Though the backgrounds of the participants were diverse, they shared a common goal: to hear about companies that are successfully engaging with low-income populations through base of the pyramid (BOP) business models—market-based projects through which the private sector addresses problems related to poverty in sustainable and mutually beneficial ways.
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Some 350 million people in Latin America and the Caribbean get by on very low incomes. Feeding and clothing their families, and finding enough work to pay the rent is a daily struggle at the base of the socioeconomic pyramid. Companies that provide affordable goods and services to the poor can make a profit on volume alone, given the sheer size of this group. However, with a little bit of know-how and effort, companies can really begin to make a difference in the quality of life for low-income people.
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Banco Itaú Unibanco Grupo Santander DuPont Procter & Gamble Novartis Walmart Trilogy Microsoft CEMEX Visa
Conference participants also heard from leaders with smaller and medium-sized companies, who have been pioneers in this field and whose innovative projects are now drawing attention for potential replication and scale.
the middle class. Now, research shows (see p. 17 for more information), the private sector is playing a key role in supporting the emerging Brazilian middle class and helping its upward trajectory continue.
While the forum’s scope was regional, the majority of both the speakers and the attendees hailed from Brazil— not only because the event took place in Sao Paulo, but also because Brazil has particularly strong experience in this area and the potential to do much more. Brazil has enjoyed record economic growth in the last few years, and the policies of former President Luiz Inácio Lula da Silva and current President Dilma Rousseff have helped bring over 43 million Brazilians out of poverty and into
Founded in 2007, the IDB’s Opportunities for the Majority Initiative has invested over US$250 million in 24 BOP business projects in Latin America, and has worked in other ways to support additional projects, as well to promote awareness of the field throughout the region. The 1st BASE Forum is the initiative’s largest and most ambitious event to date. This interactive report seeks to increase the conference’s reach by sharing its resources and messages with the broadest possible audience.
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The 1st BASE Forum: Sharing Success Stories
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On June 27 and 28, the IDB’s Opportunities for the Majority Initiative held its first major international conference in Sao Paulo, Brazil. The BASE Forum drew an overflow crowd of almost 800 registrants from a variety of backgrounds, including business, international development, government, and nonprofits, all eager to learn about the concepts behind base of the pyramid business models and how they are playing out at companies throughout Latin America. entrepreneurs. The companies represented on the panels certainly know success, but they have worked hard and overcome difficulties to get there.
The first day of the forum offered a half-day of speakers and panels with a very specific focus: SMEs for the BOP, in other words, small and medium-sized enterprises that serve the base of the pyramid. Small businesses, embedded as they are in communities, have deep knowledge of the specific needs of their customer base, and are therefore uniquely positioned to meet the gaps in delivery of quality, affordable goods and services to low-income individuals and families. Additionally, many entrepreneurial-minded members of BOP communities may have viable business concepts, but lack the resources and know-how to go beyond the informal or microenterprise level. Small businesses have always been vital to a healthy economy, but it’s now increasingly clear that they also have a part to play in development at the base of the pyramid.
Up to 600 small-scale entrepreneurs in Brazil will soon benefit from a new project announced at the BASE Forum. The IDB’s Inter-American Investment Corporation, Banco Itau, the Republic of Korea’s IIC Korea SME Development Trust Fund and Endeavor Brazil are joining forces to develop resources and training programs to support Brazilian SMEs interested in launching or expanding BOP business models. Also on Monday, a panel of executives from funds and foundations talked about the field of impact investment, or investment in companies that promise not only financial returns but also social impact. Though, as Aavishkar’s Vineet Rai acknowledged, human impact is not measurable in the same way as profits are, a growing number of investors are seeking out that “double bottom line” of simultaneously making money and changing lives.
Two panel discussions focused on the specific strengths and challenges of the SME sector when it comes to dealing with the BOP. As one panelist, Rodrigo Villar of New Ventures said, it’s important to speak of success stories in order to inspire other
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On Tuesday morning, before the second day of the Forum opened, a select group of executives learned more about the U.S. State Department’s impact investment program, “20ii,” and its plans to launch a network in Brazil to promote investment in the BOP. Tuesday’s official program was broad in scope, designed to have something for everyone from businessmen who know little about BOP business models, to managers already deeply involved in such projects. Executives from many leading regional and international firms, including DuPont, Walmart, Novartis, Procter & Gamble, CEMEX, LEGO ZOOM and PepsiCo, addressed the gathering, offering examples of their companies’ interactions with the base of the pyramid. Some were quite clever, such as a story told by Tarek Farahat, head of Procter & Gamble Brazil, about increasing market share among low-income consumers from 5 to 30% by promoting its extra-absorbent diapers as better for parents who had to share a room with their babies and also had to get up very early for a long work day. Others were inspirational, like LEGO ZOOM CEO Mary Anne Amorim, who talked about how her company had to let go of all preconceived notions and really listen to and learn from low-income communities as they developed their early education products. Two sets of simultaneous breakout sessions explored issues in depth, such as housing, the digital divide, and working with partner organizations to reach scale. There were also several networking opportunities throughout the day, including coffee breaks, lunch, and a festive closing cocktail party.
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One issue that arose in many discussions over the two days was the need for an “ecosystem,” or support system that would better enable the establishment and growth of business projects that involve the BOP. Financial institutions are starting to embrace the possibilities of taking on low-income customers and participating in the financing of projects ranging from small-sized mortgages to college loans. Leaders of several of the region’s leading banks: Banco Itau Unibanco, Santander, and Tribanco, made it clear that BOP projects are becoming part of their core strategies. But the ecosystem in which market-based poverty solutions will thrive is extremely complex and includes businesses, banks, federal and local governments, nonprofits, academia, development institutions and much more. As Michael Chu, Harvard Business School professor and founder of the IGNIA Fund said, “A market without regulation is a jungle in which only the fiercest beast will survive.” Developing the kind of regulations that will support, not constrain, the interactions between all these different actors is a work in progress.
The size and scope of the first BASE Forum underscored the IDB’s stated commitment to work toward doubling its annual investment in BOP business projects through its Opportunities for the Majority initiative. But the real legacy of the event will be the new business models that grow out of ideas discussed in the plenary hall or over lunch. See p. 9–13 for an annotated agenda of the event.
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The 1st BASE Forum: Inside the Agenda
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Monday, June 27th, SMEs and the BOP: Agents of Development and Prosperity
Panelists: Luiz Barretto, President of SEBRAE; Sean McKaughan, CEO of Fundación Avina; Fernando Jimenez-Ontiveros, Deputy Manager of the Multilateral Investment Fund (FOMIN); Rodrigo Villar, President, New Ventures Global Network; Moderator: Randall Kempner, Executive Director, Aspen Network of Development Entrepreneurs
Initial remarks by Luis Alberto Moreno, President of the IDB and Geraldo Alckmin, Governor of the State of Sao Paulo Pres. Moreno spoke about the origins of the Opportunities for the Majority Initiative, and his pride in its work so far; while Gov. Alckmin welcomed the audience to his city.
An SME Dialogue: Ideas, Challenges, and Success Stories The best lessons in developing BOP business models come from those who’ve been there. Executives who have successfully launched BOP projects talked about what they have learned along the way.
Plenary Panel Fostering Growth and Development of SMEs Serving the BOP
Panelists: Luis Velasco, President of Mi Tienda; Rodrigo Baggio, Director of the Administrative Board of CDI Lan; Rodolfo Muralles, Founder and CEO of Salud a Su Alcance; Pedro Bulcão, CEO of SINAF; Moderator: Luiz Ros, Manager of the IDB Opportunities for the Majority Initiative
The first plenary panel of the conference announced the launch of a major effort to support the development of small and medium-sized businesses that engage with the base of the pyramid in Brazil. See p. 15 for further information about this new program. Panelists: Jacques Rogozinski, General Manager of the Inter-American Investment Corporation; Sang Shik Park, Consul-General, Consulate General of the Republic of Korea in Sao Paulo; Ricardo Marino, CEO of Itaú Unibanco Latin America; Luiz Ros, Manager of the IDB Opportunities for the Majority Initiative Plenary Panel Creating an Ecosystem for SMEs serving the BOP In order for BOP business models to reach their full potential and scale, the many sectors that contribute to their work, from the private sector to government to investors and development institutions, must come together in an enabling environment. This panel talked about what such an “ecosystem” could look like.
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Plenary Panel An Investor Conversation: Financial and Social Returns from Innovative SMEs The rise of inclusive business has brought forth a new asset class among investors who seek a “double bottom line” of both financial returns and social impact. Some of the leading actors in impact investment discussed this exciting and rapidly-growing field. Panelists: Michael Chu, Managing Director of the IGNIA Fund; Vineet Rai, Founder and CEO of Aavishkaar; Maria Cavalcanti, Chief Strategy Officer, Fundación Avina; Antonio Moraes, Co-Founder and General Partner at Vox Capital 00:00
Tuesday, June 28th The Promise and the Reward of BOP Business Models
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BOP communities have long been overlooked and underserved by the private sector. Companies that recognize and address these market failures can gain a competitive advantage and have significant social impact. This panel discussed their companies’ strategies for doing so.
Plenary Panel The “Bright Side of the Poor” and Latin America’s Emerging Middle Class As the Brazilian economy has grown, millions of people have begun to move out of poverty. This panel talked about the unique needs and wants of this emerging middle class, and what companies are doing to connect with them.
Panelists: Tarek Farahat, President of P&G Brazil; Daniela de Fiori, VP for Sustainability, Walmart Brazil; Dorje Mundle, Head of Corporate Citizenship Management at Novartis; Moderator: Steven Puig, VP for the Private Sector and Non-Sovereign Guaranteed Operations, IDB
Panelists: Luiz Awazu Pereira da Silva, Director of International Affairs and Corporate Risk Management, Central Bank of Brazil; Fábio Barbosa, President of Grupo Santander Brasil; Eduardo Wanick, President of DuPont Latin America; Nizan Guanaes, Executive Chairman, Grupo abc, Moderator Luis Alberto Moreno, President of the IDB
Breakout Panel Ending the “Talent Blackout”: Equipping the Workforce for Regional Growth In rapidly-developing countries such as Brazil, there is often a shortage of qualified workers to fill new jobs being created. This panel discussed the importance of expanding opportunities for higher education and vocational training that give workers from BOP communities the chance to take part in the growing economy and keep companies from being constrained by a lack of employees.
Plenary Panel Addressing Coordination Failures: Unleashing Opportunity at the Base of the Pyramid
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in opportunity. This panel discussed innovative ways in which the “digital divide” is finally closing.
Panelists: Charles Martins, Chairman of the Board of Directors, Multi Holding; Paulo Barbosa, Secretary for Economic Development, Science and Technology for the State of Sao Paulo; Francisco Vizcaya, CEO of FINAE; Paulo Henrique Quaresma, Acreditar, Odebrecht
Panelists: Trina DasGupta, mWomen Programme Director at GSMA; Julián Ugarte, Director of Centro de Innovación; Brad Horwitz, President and CEO of Trilogy International; Moderator: Akhtar Badshah, Senior Director of Community Affairs at Microsoft
Breakout Panel Technology as a Tool for Inclusion: Affordable, Fast, Effective
Breakout Panel Creating Housing Solutions for the BOP: Prosperity Begins at Home
The Internet, smartphones, and other cutting-edge technology is offering new solutions to BOP communities that have long been distant by geography or by a gap
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Panelists: Jose Cavaretti, Manager for New Markets at AES Eletropaulo; Francisco Gross, CEO of SEINCO; Vasco Luce, President, South American Beverages at PepsiCo; André Albuquerque, Founder and CEO of Terra Nova; Moderator: Claudio Boechat, teacher, researcher and project manager at Fundação Dom Cabral Breakout Panel Meeting Human Needs: Providing Basic Services Providers of basic services like health care and primary education are experimenting with new models that are bringing quality services to the base of the pyramid at affordable prices. This panel discussed some of the region’s most innovative approaches.
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Panelists: Carla Sarni, President of Sorridents; Enrique Coronado, CEO of Por Ti Familia; Mary Anne Amorim, CEO of LEGO Zoom; Moderator: Haroldo Torres, Senior Partner at Plano CDE (Brazil)
There may be nothing more important to supporting the well-being of a family than a safe and adequate home. This panel discussed persistent housing deficiencies in Latin America and new programs that are making it possible for low-income families to put a decent roof over their heads.
Breakout Panel Distribution Platforms: Scale through Partnerships
Panelists: Luis Sosa, President of Visión Banco; Haidy Duque, Director, Corporación Kayrós; Rodrigo Ibañez, Manager of Viste Tu Casa, Corona; Israel Moreno, General Manager, CEMEX; Moderator: Vishnu Swaminathan, Director of Full Economic Citizenship at Ashoka Breakout Panel Reaching the Last Mile: Solving Infrastructure Deficiencies For too long, poor communities ranging from urban favelas to remote rural villages have been “off the grid” of modern utility services. This panel discussed how utility companies are finding new ways to connect with the base of the pyramid.
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Many companies are finding that partnering with nonprofits, government agencies, or other companies can provide access through which to better serve BOP communities. This panelists shared their experience in forming successful partnerships for the purpose of reaching scale in their BOP projects. Panelists: Federico Restrepo, CEO at EPM; Jose Pablo Arellano, Emerging Markets Manager at BCI; Marco Gorini, Executive Director, Mundo Vox/Tenda Atacado; João Rabello, President of Tribanco - Grupo Martins; Moderator: Filippo Veglio, Deputy Director, Development Focus Area, World Business Council for Sustainable Development (WBCSD) Plenary Panel What is Next in Market-Based Solutions for the BOP?
Panelists: Christian Daude, Economist, Latin America & the Caribbean at OECD; Jose Maria Ayuso, Executive Vice President, Visa Inc. Latin America and the Caribbean Region; Marcelo Neri, Director of the Center of Social Policies, FGV, André Urani, President and researcher, IETS; Moderator: Michael Chu, Senior Lecturer, Harvard Business School
Over the course of the day, many innovative ideas and success stories were presented, but BOP business projects are still a “young” concept for both the private sector and development institutions. This panel discussed what the continued growth of this sector could mean for the region.
Closing Remarks from OMJ Manager Luiz Ros
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Beyond BASE: A Better Future for Small Business in Brazil 14
One of the innovative projects presented at the 1st BASE Forum is just at its starting point. For the first time, Opportunities for the Majority is collaborating with the InterAmerican Investment Corporation (IIC), the IDB’s arm dedicated to fostering the development of small and medium-size enterprises (SMEs) in Latin America and the Caribbean. A new training program in Brazil, launching by the end of 2011 will combine Opportunities for the Majority’s focus on business projects that benefit low-income communities with the IIC’s expertise in supporting the SME sector.
The World Bank Doing Business project rates Brazil as one of the most difficult countries in which to run a business, citing problems related to bureaucracy and limited access to capital. And yet, even in this challenging environment, millions persevere and start their own businesses-- according to Brazilian government statistics, the country has 4.3 million companies. However, only 371,000 of these employ more than 10 people. Over half of Brazilian companies--2.2 million--have merely one or two full-time employees. If these microenterprises and small businesses were able to each hire one or two more people, it would have an enormous impact on job creation and support the continued expansion of Brazil’s burgeoning middle class. In many ways, SMEs are uniquely equipped to serve base of the pyramid populations. For example, they know the needs and preferences of the communities in which they are based, and create local jobs. They may even have started out as microenterprises operated by low-income entrepreneurs who have managed to grow their projects into stable and profitable businesses. For these reasons, this SME Development Program is being established, and will strengthen hundreds of SMEs in Brazil that work with the BOP.
Two local partners, Banco Itaú Unibanco and Endeavor Brazil, bring their own contributions to this effort. Banco Itaú Unibanco, the largest private bank in Brazil, has in recent years made it a priority to strengthen its engagement with the base of the pyramid, and will work with participants in this SME training program to finance their BOP projects. Meanwhile, in 2000, the international entrepreneurship development organization Endeavor opened its first Brazilian office in Sao Paulo; today, it has branches in five Brazilian cities. Endeavor Brazil, through its networks of executives, business owners and other experts in the sector, offers advice and mentoring to budding entrepreneurs. The project is also receiving key support from the Government of the Republic of Korea, via the Korea-IIC SME Development Trust Fund.
One hundred SMEs will participate in the full program, and will be identified and selected from among Banco Itaú Unibanco’s clients and via Endeavor Brazil’s entrepreneurship networks. The chosen companies will take part in a six-month capacity-building program, which is based on Endeavor Brazil’s successful “Bota pra Fazer” methodology and through which they will develop their BOP business plans. An additional 500 SMEs will benefit from online components designed to educate SMEs about BOP models.
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Uncovering “The Bright Side of the Poor” in Brazil
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of the country’s population, 50.5%, was part of Class C. Neri gives credit to a variety of factors for making this upward mobility possible. One key factor was the “Bolsa Familia” introduced by President Luiz Inácio Lula da Silva in 2003, a conditional cash transfer program that offered stipends to poor families as long as they complied with certain criteria, such as enrolling children in school and keeping up with vaccinations. The program serves as a financial lifeline, keeping people out of extreme poverty, but it alone cannot explain the booming middle class. Neri also gives credit to strong rates of job creation and improvements in the educational system for the expansion of the middle class and reduction of income inequality.
The 1st BASE Forum had the honor of sponsoring cutting-edge research on Brazil’s emerging middle class by acclaimed economist Marcelo Cortes Neri. Neri, director of the Center for Social Policy at the Getulio Vargas Foundation in São Paulo, is one of Brazil’s leading experts on the economic and social forces that are transforming Brazil. In 2010, he published a landmark study, “The New Middle Class in Brazil: The Bright Side of the Poor,” in which he analyzed data from the previous decade’s government household surveys, and revealed fresh insights into the decline of income inequality and the growth of the middle class. At the forum, he released his latest report, “Emerging Groups in Emerging Countries: Global Reflections and Local Actions for the Brazilian New Middle Class.”
Neri’s research greatly informed the planning of the 1st BASE Forum. If these newest members of the middle class are to hold on to their place in society and even continue their upward mobility, the private sector will need to play its part by continuing to create not only jobs, but also opportunities for workers to acquire the necessary skills to fill those jobs. As the middle class,
As outlined in “The New Middle Class in Brazil,” by Neri’s count, between 2003 and 2009 nearly 30 million Brazilians moved up from the lowest income classes, D and E, into middle-class C—this, in spite of a global financial crisis that set off a wave of unemployment and austerity in much of the world. In 2009, just over half
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and eventually upper-middle class, grow in numbers and in purchasing power, the companies that provide the goods and services they crave will be rewarded for standing by these emerging consumers through their leaner years. But more importantly, all Brazil will benefit from the productivity, entrepreneurship and achievements of “the new middle class.” As part of the BASE Forum, Opportunities for the Majority invited Neri to share results from his followup report, “Emerging Groups in Emerging Countries: Global Reflections and Local Actions for the Brazilian New Middle Class.”The new study considers Brazil in comparison to its fellow “BRICS” nations: Russia, India, China and South Africa—a group of countries that are emerging onto the world stage as 21st century economic powers. Neri finds, for example, that in the other BRICS countries, the top 20% income bracket has absorbed
most of the recent growth in GDP, whereas in Brazil, it is the middle class that has benefited. Job creation has continued at a record pace, and in the 21 months between the publication of “The New Middle Class” and
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In conclusion, in this new study Neri offers this policy prescription: “It is necessary to ‘give the market to the poor,’ completing the movement [of] recent years, when, through decreasing inequality, we ‘gave the poor to the (consumer) markets.’ To give the market means, above all, to improve the access of people to the labor market. The fundamentals of economic growth and the labor related reforms are basic aspects here… Education works as a passport for good jobs.”
“Emerging Groups,” an additional 13.3 million Brazilians have moved up from the lowest income brackets into classes A, B and C. Brazil has even outperformed the rest of the BRICS countries in measurements of satisfaction in the “world happiness ranking,” having risen from 22nd in 2006 to 17th in 2009, among 146 countries.
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What Others Said about the 1st BASE Forum 20
Opportunities for the Majority received much positive feedback about the 1st BASE Forum in the weeks following the event. The initiative used its website, MajorityMarkets.org, to share resources from the event, such as PowerPoint presentations, video of the plenary panels and the event brochures.
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• In a blog post titled “Beyond BASE,” OMJ investment officer Susan Olsen summed up the most important messages from the forum. The following is excerpted from her piece: •
If BASE made one message clear from the start, it is that Business at the BoP is everyone’s business – not just that of micro-entrepreneurs who have the agility to get close to the communities they wish to serve. It’s also not just for multinationals and large corporations with resources to invest in new market exploration and trial pilots. Small and Medium sized Enterprises (SMEs) are also “anchors” that know how to deliver goods and services to low-income communities.
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“Opportunity” is in the Majority. The numbers speak for themselves. In Latin America. the numbers are exponential, 360 million people from low-income segments with approximate per-capita incomes of under USD$350/month but a collective annual purchasing power of US$500 billion, vastly underserved due to the lack of companies seeking to compete for market share with quality goods and services. Is your company looking for growth opportunities? You get the hint. BoP 101: If you haven’t heard yet, the main difference between traditional business and BoP business? Low margins and need to reach scale to be sustainable - repeat ad infinitum. Finding the right “mix” of distribution networks and partnerships is not a standard “copy-paste” formula to get it right for your business, and doesn’t happen overnight, but it’s the holy grail of doing good business at the BoP in a way that helps makes a difference for a lot of people. It takes an ecosystem. Companies can’t do it alone – at least not easily. It takes a whole host of enabling factors to make this budding industry get off the ground: regulation supporting the models, partnerships, access to credit, specialist advisors who understand BoP markets, talent attracted to develop the models, risk takers willing to enter new markets, just to mention a few. Be the Best: Michael Chu of Harvard Business School and the IGNIA Fund summed it up beautifully. The BoP needs the BEST from business: B: top quality products and services; E economic, i.e.affordable accessible prices; S solidarity, so that all benefit from the model, not exclusive to the top social classes, T today: the BoP has urgent unmet needs now.
NextBillion.net, the leading online source for information about “development through enterprise,” offered extensive coverage of the event on its Portuguese-language site, NextBillionBrasil. In its final analysis of the event, NextBillion wrote:
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The registrants were able to learn more about the BoP concept, expand their perceptions of the industry, discuss important issues, and most of all, to observe real cases of people who have opted for a more meaningful career path and are reaping the fruits of this work‌ They were also able to learn from the experiences of other BRICS countries, especially India, which is so strong in social entrepreneurship. Opportunities for the Majority invited attendees to share their feedback on the event. Among the comments received: It was a unique opportunity to discuss this issue in this country. We should try to ensure that these forums happen with some frequency, so the dialogue will evolve even faster. It was one of the best conferences I have attended. The selection of the panelists, moderators and speakers was excellent. The topics covered in the Forum were appropriate. Perhaps, it may be helpful to have interactive case studies for various stages of the projects and diversified sectors.
The respondents also offered suggestions and critiques that will guide OMJ in planning future presentations and events. These ideas included: having more participation from members of BOP communities themselves, allowing for more exchange between panelists and audience members through Q&A or other formats, and lengthening the event to make room for still more discussion topics.
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The BASE Forum was made possible through the generous support of the following sponsors:
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MajorityMarkets.org Opportunities for the Majority launched the website MajorityMarkets.org in 2009 as an online platform for sharing news about its projects and activities. The site draws visitors from over 25 countries who are seeking information about Base of the Pyramid business projects in Latin America and the Caribbean. It features articles about innovative business models in the region, showcases videos produced by the Inter-American Development Bank’s BID-TV unit about OMJ client companies, and hosts a blog on which OMJ staff and research fellows report on their travels and comment on trends and events in the BOP sphere. MajorityMarkets.org also maintains a robust presence in social media, on Facebook and Twitter.
About the Strategic Thematic Fund Market Solutions for Social Change Opportunities for the Majority established a Strategic Thematic Fund, Market Solutions for Social Change in 2009, for the purpose of developing a funding source for technical cooperation projects that promote, finance, and disseminate private sector business models that develop and deliver quality products and services and enable low-income producers and consumers to participate in the market economy. The Fund’s first donor was the Austrian Development Bank. To learn more about the Fund and the projects it has supported to date, see the report “The Market Solutions for Social Change Strategic Thematic Fund.”
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