You develop a low-cost innovative product for poor or lower middle class or a product of strategic importance to human life, and sell it at low-cost to the target market, resulting into a revolutionary change in their standard of living, economically, socially, hygienically, physically or mentally (for the differently- abled) etc. You turn profits through volumes.
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Is this for me
You need to be passionate about solving a particular problem of the masses and have a solution as well, which may need to be disruptive / innovative in terms of technology, price, distribution, etc. People / companies involved in this business needs to be visionary in achieving short term and long term business objectives.
Insight
“D.light customers have reported that children’s study time has increased by a factor of 2-4 times after purchasing the solar lantern. In addition, each kerosene lantern no longer used, removes 0.5 to 1 ton of carbon emission from the atmosphere,” Sam Goldman, D.light.
Other Major Players
Green Digital, Invention Labs etc.
How it was done
D.light venture began in a garage in Palo Alto, California, in 2007 and moved to New Delhi (India), started in 2008 as an Indian consumer products company selling solar lanterns to people without access to reliable electricity.
Investment - Rs 10 Lakh - 1 Crore
Avg. Break even* - Depend on R&D Time
*Profit could be good enough, but the measuring rod here should be the number of lives impacted.
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