by Rachel Wolf and Dan Zook
D. Blog first introduced the G20 Challenge in December, and then provided an update in March after receiving 167 full applications from among the 291 businesses that began the application process. Applications came from 75 countries and operated in a wide range of sectors, with particularly high representation from the agriculture, health and education, and retail industries.
In case you’re new to inclusive business, here’s a recap from the March post on the types of businesses that the G20 Challenge was launched to recognize:
- Inclusive businesses work with low-income people at different points along the value chain: as suppliers, distributors, retailers, or customers. For example, a company that adapts its core product to be both appealing and affordable to low-income buyers is an inclusive business. So is one that sources its agricultural products from a number of low-income smallholder farmers. Inclusive business models vary widely, ranging from the seemingly obvious to the truly innovative.
Inclusive businesses that applied to the G20 Challenge were evaluated on innovation, financial sustainability, development results, potential for growth, and environmental and social sustainability. 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:
Click here to read more about the winners, and be sure to check back later this week for a closer look at some of the interesting business models that came out of the competition.