#26 The Unexplored Innovation

The video below was shared by Ravi Varmman from HELP University. My view on this video is that innovation happens everywhere. Innovation in regardless of small or big can have a powerful impact on the society. Being a big follower of C.K Prahalad’s view (fortune in the bottom of the pyramid), there is so much fortune in these places. If you look at the population in India, there is so much of unexplored market. This unexplored market does not necessarily means new customer or potential customer but also possibility of a new innovation collaborative effort. Therefore, we are no longer looking at who are the customers but also the need to understand who are these people that serves the customer. Take a look at these quadrants:

		Suppliers
		Existing	Unexplored
Customers	Existing	Sustain	Partnership/JV etc
	Unexplored	New Product Development	New Innovative Collaboration

Once we can match the unexplored suppliers with the unexplored customers, we create mass new innovation opportunities. Possibilities for a nation to self-sustain.

One lesson to take away from this is that you need to give freedom to these nations to innovate. By freedom, I mean removing limitations and controls over these nation and removing the mindset that “i know it all”. They are the one who understands the needs of their society and has been living under such conditions their own life. When innovation happens, bring the idea back or customize their idea to the current market or even a new market elsewhere. Recall the Tata Nano car (https://cesquare.wordpress.com/2012/02/19/13-find-the-market-the-the-brains/). Innovation happens everywhere and to everyone from diverse culture. People are born smart in their own ways. We need to help educate these people to realise their potential. Opportunities are everywhere if we change our mind-set.

Check out the video:

 

In order for undeveloped nation to grow, we must change the way their people think and what the world thinks of them. What the world needs to do now is to bring awareness and opportunity to these people to self-sustain.

 Photo taken from: http://www.thebetterindia.com/wp-content/uploads/2010/01/tilonia2.jpg