Innovation and entrepreneurship across countries

Question 1

What is an entrepreneurial ecosystem supported by?

Answer 1

acessible markets
human capital workfoce
education/training
major universities as catalysts
cultural support
funding and finance
support systems/mentors
govenment and regulatory frameworks

Question 2

How to succeed in bottom of pyramid markets?

Answer 2

Design products that account for limitations (low skills, poor infrastructure)
• Educate consumers on how to use products
• Convenience of user interface
• Develop methods for reaching potential customers in remote locations
Goals
• Develop products with limited capital
• Use less resources and produce less waste
• Focus on consumers’ perspective on value creation
• Design scalable production process (may rapidly produce + output)

Question 3

How to suceed in Less is more innovations?

Answer 3

Some attributes of an older product are stripped-off
• New product is simpler than previous ones (lower costs)
• May have new unexpected features
Less-Is-more innovations vs More-Is-Better innovations
• Opportunities for differentiation
• Possibility of imitation