BOP News: G20 and IFC launch competition

By Xavier Forneris

The purpose of my blog is not to promote the activities of the organization where I work – IFC ( a member of the World Bank Group)- but I’m starting a new series of posts on doing business at the “Base of the Pyramid” (BOP) and IFC happens to be the co-sponsor of an interesting competition launched in that field, last month, by the Group of 20 (G20). It is an online competition to find the best examples of ventures in developing countries that provide critical goods, services, and livelihood opportunities in financially, environmentally, and socially sustainable ways to those living at the base of the pyramid, what I will refer to in the forthcoming BOP posts as ‘Inclusive Businesses’. Launched as part of the G20 Leaders Summit in Cannes, France on November 3-4, 2011, the G20 Challenge on Inclusive Business Innovation seeks to recognize businesses with innovative, scalable, and commercially viable ways of working with low-income people in developing countries. Winners of the competition will be announced in Mexico (country hosting the G20 meeting) in June 2012. Stay tuned.

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