The recent meeting of the Group of 20 (G20) in Los Cabos, Mexico included the announcement of the 15 winners of the G20 Challenge on Inclusive Business Innovation. The Challenge is an online competition that sought to find the best examples worldwide of businesses with innovative, scalable, and commercially viable ways of working with low-income people in developing countries. The judging panel evaluated the 160+ evaluations from 75 countries, operating in a wide range of sectors, with particularly high representation from the agriculture, health and education, and retail industries. The submissions were evaluated on innovation, financial sustainability, development results, potential for growth, and environmental and social sustainability.
15 winners reach over 40 million people Together, the 15 winners reach more than 40 million people living at the base of the economic pyramid—as suppliers, distributors, retailers, or customers—in more than 25 countries. They are:
- Agrofinanzas (Mexico), which helps improve the lives of rural Mexican farmers and food producers by providing financing to them.
- Apollo Hospitals Group (India), which helps provide specialized medical services in India's underserved rural areas and smaller towns.
- Bakhresa Grain Milling (Malawi), which helps local entrepreneurs build businesses that entail selling baked goods.
- Brilla, a program launched by Promigas (Colombia) to help people finance home improvements, microbusinesses, schooling, and appliance purchases.
- Corporación Universitaria Minuto de Dios (Colombia), which makes higher education more accessible by offering loans to students in Colombia.
- Ecofiltro (Guatemala), which manufactures low-cost water filters that can be assembled using local materials and labour.
- Engro Foods Limited (Pakistan), which helps small dairy farmers in rural Pakistan join the formal economy.
- Jain Irrigation Systems Ltd (India), which provides irrigation systems to farmers in several developing countries, improving their yields by up to $1,000 per acre.
- Manila Water Company (Philippines), which provides safe, affordable drinking water.
- Millicom (Luxembourg), which provides affordable and accessible mobile services and solutions, including financial services, to customers in emerging markets in Latin America and Africa.
- Reybanpac Unidad de Lácteos (Ecuador), which helps combat malnutrition by providing affordable high-protein dairy drinks with milk purchased from small farmers.
- Sustainable Harvest Coffee Importers (United States), which helps small coffee farmers in Central and South America and East Africa improve their lives by buying their coffee at fair prices.
- Tenda Atacado Ltda (Brazil), which supports small business in Brazil by extending credit to microentrepreneurs with no credit history.
- VINTE Viviendas Integrales (Mexico), which provides affordable and eco-friendly housing to low- and middle-income families in Mexico.
- Waterlife India Private Limited (India),which builds and runs water-purification plants to provide safe and affordable drinking water.
The G20 Challenge was launched to rapidly expand commercially viable businesses that serve the large numbers of low-income people that constitute the base of the global economic pyramid. Its goal is to identify, showcase, and support innovative business models that can be replicated across developing countries. The G20 Challenge was managed by the International Finance Corporation (IFC) which, since 2005, has invested over $6 billion in more than 200 companies that focus on inclusive business models, in more than 80 countries around the world, reaching more than 200 million people. IFCs Inclusive Business Models Group, launched in 2010, promotes the sharing of experiences in inclusive business models
and connects people, resources, and ideas in support of its clients.
For more information on the winners and the innovative Inclusive Business models they and others created please go to www.g20challenge.com/winners