Prof.C.K.Prahalad premise that business models can mobilise socio-economic change by engaging the poor in the marketplace profitably is the inspiration behind the ‘Prof.C.K.Prahalad Centre for Emerging India’. The centre seeks to promote entrepreneurial ideas produced by and more importantly for the ‘Bottom of the Pyramid’ (BOP). The centre will endeavour to encourage and equip entrepreneurs engaging in BOP market development.
India is a country of extremes – on the one hand it has a rapidly increasing number of billionaires, while on the other over 40% of its population at the base of economic pyramid at $1.25 a day. Almost all products and services created and delivered, both with in the country and outside, cater to the affluent or middle class. Prof. C.K. Prahalad’s much acclaimed book, The Fortune at the Bottom of the Pyramid: Eradicating Poverty through Profit (2004), inspired a new thinking wherein he explained the market potential that remains untapped at the Base of the Pyramid (BoP). His book created waves across global corporations that considered this population an unenviable market.
Prof. C.K.Prahalad’s premise that business models can mobilize socio-economic change by engaging the poor in the marketplace profitably, is the inspiration behind the ‘Prof. C.K.Prahalad Centre for Emerging India’. Prof. C.K.Prahalad Centre for Emerging India was set up to stimulate entrepreneurship, research and innovation that engages, involves and benefits bottom of economic pyramid. The centre’s focus for this academic year shall be Entrepreneurship Education and Research in making business contribute to socio-economic benefits for BoP, financial inclusion, CSR, triple bottom lines, impact enterprises, inclusive innovations, sharing of prosperity and business sustainability in 21st Century.
- To foster thought-leadership by bringing together research and academic contributions
- To provide a resource base for other institutions, corporations and individuals who are working with the Base of the Pyramid
- To foster entrepreneurship by knowledge and resource transfer
- To undertake research in the areas of strategy, innovation and entrepreneurship, appropriate to the Base of the Pyramid
- To create a global knowledge base of ideas, practices and experiences for sustainable development
- To promote entrepreneurship, especially among women and the marginalised, to further social change
- To connect social entrepreneurs with thought-leaders and key players in business, government and non-governmental organisations to enhance social impact
- Identify through research, various innovative marketing opportunities, strategies, practices that are sustainable for the Base of the Pyramid.
- Incubate entrepreneurial ideas focusing on the BOP.
- Research and publish best case practices, articles and books relating to BOP market development, innovative models identified across the globe on inclusive growth.
- Conduct seminars and conferences relevant to the aim and objectives of the centre.
- Liaison with international bodies to enrich the centre’s knowledge base.
- Recognise and celebrate the success of small and medium scale entrepreneurs through the presentation of awards annually.
- Promote Social Venture Capital.
- Gopal Srinivasan CMD, TVS Capital Funds Ltd. Convener
- P. Christie, S.J. Director, LIBA
- Deepa Prahalad CEO, Anuvva, LLC
- Arun Maira Former Member Planning Commission of India
- Arjun Kothari Managing Director, H.C. Kothari Group of Companies
- R. Gopalan, IAS(Retd) Member, Debts Recovery Tribunal, Government of India
- Jaithirth Rao Chairman, Value & Budget Housing Corporation, Mumbai
- Lakshmi Narayanan Vice Chairman, Cognizant Technology Solutions
- R. Ramaraj Senior Advisor, Sequoia Capital India
- Shikha Sharma MD & CEO, Axis Bank
- A. Xavier Raj Chairperson, Prof. C.K. Prahalad Centre for Emerging India
The centre has collaborated with national and international organizations to promote research, consultancy and capacity building
- Villgro Foundation, Chennai
- Bharatiya Yuva Shakthi Trust (BYST), Chennai
- Sonata Software, Bangalore
- Wadhawani Foundation, Chennai
- Centre for Social Innovation and Entrepreneurship, IIT Madras, Chennai
- The Sustainability Platform, Chennai
- Santa Clara University, USA
- Institute for Inclusive Finance and Development, Bangladesh
Entrepreneurship among bottom of Economic Pyramid
The Centre seeks to promote entrepreneurial ideas produced by and more importantly for the BoP. The centre will endeavour to encourage and equip entrepreneurs to engage in BoP market development. To place India on its socio-economic growth track, out-of-the-box methods have to be adopted to spread the benefits of innovation to millions of Indians below the poverty line. Research is necessary to create products and services that will make life better for the BoP. Research output from the centre should create a support system that will provide innovators access to funding, expertise and resources, and help them transform their ideas into action.
Research and Consultancy
Prof. C.K. Prahalad Centre for Emerging India focuses on consultancy, research and training in the areas of strategy, innovation and entrepreneurship enhancing engagement, involvement, and benefits for bottom of the socio-economic pyramid (BoP) Segment. The Centre primarily works towards addressing the current gaps between idea-generation and scaling-up so as to promote viable business opportunities. Listed below are thematic research areas of interest at the Centre. Centre invites expression of interest to design and implement action and policy oriented research from corporates, corporate bodies, international organisations, governments and individuals.
The work in this area relates to insurance issues that affect the poor and low-income families. The intern will assist in all aspects of work including research, qualitative and quantitative analysis, data collection and management. The main objective is to develop an understanding of various insurance policies of states, insurance products of companies that affect the poor.
The work in this area would need interns to work with state departments, local builders and other accreditation agencies to improve the effectiveness of low-income housing programmes. The housing intern will need to perform in-depth analyses of research reports and analyse data on relevant policy issues.
The work in this area relates to understanding issues of rural marketing. The work would involve travel within India as per project requirements.
The intern will help in in-depth analyses of research reports and programme data on relevant policy issues of micro and social entrepreneurship. One of the important objective is to build a relevant database of various activities involving micro and social entrepreneurs in the country.
Interns for the Centre
The centre admits interns, international and national from industry, universities, management institutions, governments and R&D Centres. The Intern’s assignments include individual work and special projects. Applicants should have an interest in research, fact-gathering, writing, analytic, and computer skills and a willingness to learn. Students may be required to travel within India as per project requirements.
EVENTS AND CONFERENCES
The Prof.C.K.Prahalad Centre for Emerging India is in collaboration with Villgro Foundation, ALTIS, University of Milan and GSBI, Santa Clara University for the Social Entrepreneur and Enterprise Development (SEED) program. The program works on identifying budding entrepreneurs, those whose initiative addresses social issues and provides them with not only capital investments but also mentors them through the entire scaling- up process. The first of the training session was held between 30thOctoberand3rdNovember, 2012 at MGM Beach House with the selected cohort of entrepreneurs. Student interns from LIBA and ALTIS took part in the program. The next part of the program: January 16th – 19th, 2013: 4 days in-residence session and 28th February – 2nd March, 2013: 3 days in-residence session.
INAUGURATION OF CENTER
The center was formally inaugurated today by M.K Narayanan, West Bengal Governor and K.V Kamath, Chairman, Infosys Limited at a function organized by LIBA. Mrs. Gayathri Prahald, wife of late C.K Prahalad Mrs.Gayathri Prahalds speech and other prominent business leaders who attended and spoke at the event are Mr. Venketrama Raja, MD & CEO, Ramco Systems Limited; Fr. P. Christie, Director, LIBA; Fr. Casimir Raj, Director, Prof. C.K. Prahalad Centre for Emerging India, Prof. Bala Balachandran, Professor Accounting Information & Management, Kellogg School of Management, Northwestern University, Dr. M. S. Krishnan, Professor & Chair of Business Information Technology, Michigan Ross School of Business Mr. Gopal Srinivasan, CMD, TVS Capital Funds Limited, Prof. Jay Amaran, Vice President, Global Determinants, Inc. USA, Dr. Sridhar Mitta, MD, Next Wealth Entrepreneurs Pvt. Ltd, Mr. R. Gopalan, Secretary, Economic Affairs, Govt of India, Fr Sebasti L. Raj, SJ, Governing Body Chairman, LIBA , Mr D. Shivakumar, MD & VP Sales, Nokia India and Mr. Bhadrashyam.H. Kothari, Chairman H.C. Kothari Group of Companies, President, Loyola Alumni Association.
Speaking at the inaugural event Fr. Christie, Director, LIBA said, “The C.K Prahalad Center is among the institute’s efforts to play a role beyond academic education and to play a larger role in creating the global knowledge base and helping develop the long-term strategy and platform for growth in certain important areas such as the BOP market. Besides creating a wealth of knowledge on ideas, practices and experiences for sustainable development through research papers, articles, conferences and books, the center will also incubate entrepreneurial ideas focused on the base of the pyramid and promote social venture capital. We are indeed proud to be acknowledging the efforts of one or our most eminent alumni of Loyola College, the late C.K Prahalad and I am happy we will be continuing with his efforts to recognize the fortune at the bottom of the pyramid.”
Loyola Institute of Business Administration (LIBA), Chennai, established in 1079, is a premier Jesuit institution consistently ranked among the best business schools in the country. The institute lays stress on holistic learning with particular emphasis on excellence and ethics. It seeks to achieve the same by forming men and women imbued with a spirit of innovation and entrepreneurship. Considered as a rick resource centre for research and innovation, LIBA has several international collaborations and many centres of excellence to ensure that cutting-edge business ideas and practices are introduced and infused in its students. One more noble efforts to achieve the vision is the launch of the Prof. C.K.Prahalad Centre for Emerging India.