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
COURSE OF ACTION
- 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.
COURSE OF ACTION
- 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
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.
“We attended sessions on developing good business models keeping in mind the customers, resources, and costs involved. We also had a session on how perceptions play a major role in innovation and how important it is to shift our frame of reference to innovate and think differently. We had the opportunity of witnessing the entrepreneurs present their business models to their mentors and the feedback that they received. Being at the crossroads of deciding our careers, it was indeed enlightening to be exposed to such pioneers in Social enterprise. It gave us hope that India can indeed be transformed with such new and inconceivable ideas and that too profitable!” Subasri M and Leo Jude, I Year, PGDM
“The workplace was really smart, with a high level of communication and I could play an active role. They required me to work with mentors during the Seed program and also with social entrepreneurs. Moreover, I had to search for new social entrepreneurs with an impact on rural areas and on BOP. I learned to work in a team, to have good relationships with people and also I met different cultures.” Sergio Sarli, ALTIS.
INAUGURATION OF CENTER
Loyola Institute of Business Administration, announced the establishment of “Prof. C.K Prahalad Center for Emerging India’, India’s first research and innovation center focused exclusively on BOP marketing and among the early pioneers across the globe in this space. Prof. C.K. Prahalad Centre for Emerging India will focus on research in the areas of strategy, innovation and entrepreneurship appropriate to the base of the pyramid and will primarily work towards addressing the current gap between idea generation and scaling up into viable business opportunities.
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.”
Fr.Casimir Raj, Director of the Center and Founder, Director of LIBA added, “While over 60% of the global BOP market is said to be based out of India and China and there is a lot of progress that both large Indian MNCs, as well as entrepreneurs have made in developing innovative products and services to this market, scaling it up into a viable and sustainable business seems to remain a huge challenge. Additionally, while India has made its mark in the global map with respect to BOP innovation in the last decade, there is no one single concerted effort to conduct research and develop a long-term growth strategy for businesses in this space. It is this gap and opportunity that we saw while conceptualizing and developing the focus areas for this center. There are huge opportunities for social ventures in the area of food processing, education and self-grooming besides the opportunity to increase the number of women entrepreneurs and the center will encourage and enable to tap this potential.”
“ Celebrating Dr. Prahalad ”The Next Practices in Competency and Inclusion The sixth edition of LIBA Insight ’11 focused on the seminal works of the management guru par excellence Dr C. K. Prahalad. His contribution to the world of business has been humanistic, universal, futuristic and truly path breaking. They have changed the way businesses consider markets. No wonder he has been ranked twice on the Times list of the world’s most influential business thinkers.
INTERNS FOR THE CENTRE
About the Centre
The Prof.C.K.Prahalad Centre for Emerging India was founded in 2011 and is one of the Centres of Excellence in Loyola Institute of Business Administration, Chennai. The Centre has three main objectives – to research, build capacity and incubate social enterprises which affect the underprivileged and the needy. The Centre is working in the areas of micro-insurance, low-cost housing and social entrepreneurship.
The Centre seeks highly motivated undergraduate and graduate students who are interested in development issues. 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.
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.
|Candidates should have an interest in health care/ insurance policy, basic quantitative analytic skill, and the ability to synthesize a great deal of information.|
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.
|Candidates should have a strong interest in poverty issues generally and housing policy, in particular, as well as experience with housing and/or homelessness issues.||Preference given to civil engineering / marketing students.|
The work in this area relates to understanding issues of rural marketing. The work would involve travel within India as per project requirements.
|Candidates should have a strong interest in addressing issues affecting the consumers at the Bottom-of–the-Pyramid (BOP).||Preference given to management / marketing students.|
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.
|Candidates should have a strong interest in development issues generally and social entreprises in particular||Preference given to management and doctoral students.|