At the Christensen Institute the Global Prosperity team researches how businesses, governments, and nonprofits worldwide can leverage innovation theories and frameworks to create prosperity in their communities. We started this year with ambitious goals to spread this research as far as we could in different countries and sectors, and through different institutions. Thankfully, with your help, we’ve been successful thus far.
In 2023 the GP team published over 40 blogs on a wide variety of topics that included the Summit for Democracy: Indo-Pacific Regional Meeting in Seoul, the United States’ Fostering Innovation in Global Development Act (FIGDA), and even the United Nations 78th Annual General Assembly, to name a few.
We also had older content that remained popular tools for innovators looking for proven strategies to make an impact. The more visited resources included: A how-to guide for taking the guesswork out of innovation in emerging economies, and Make your own luck in emerging economies: Six strategies for creating new markets.
And although we celebrate the continued relevance and applicability of our older content, we couldn’t be prouder of two major resources we produced this year. Our Thursday Theory Tips limited series, and our report on Accelerating the adoption of solar energy in Nigeria: A market creation strategy. The limited theory tip series was created to provide business and management theory based tips for entrepreneurs and innovators across a variety of sectors and circumstances.
Our solar energy report, on the other hand, was a targeted collaboration with All On energy and the US African Development Foundation meant to research the state of the solar energy market in Nigeria, the country with the largest energy deficit in the world, and identify strategies to overcome the barriers that have hindered the development of the solar sector. We were fortunate to share our well-received findings through accessible webinars, podcast episodes, and even in Nigeria surrounded by key players in the nation’s solar industry. And while we did identify strategies to accelerate the adoption of solar energy and in effect the development of the market and nation, we also found that these strategies were not limited to the solar sector, but could be applied across a variety of sectors experiencing similar barriers and limitations in growth economies.
The GP team has always advocated for prosperity creation through market creation, because new markets create jobs, profit and wealth, but this year we were able to dig deeper and get a better understanding of the process of market creation. Market-creation follows a predictable path of discovery, distribution, and sometimes democratization. Oftentimes, poverty alleviation programs and development foundations focus on discovery and democratization initiatives, but without a well established distribution system these well intentioned initiatives fail. That is why our team focused and will continue to elaborate on what the process of successful market-creation looks like.
In addition to our research and publications, we continued delivering market-creating innovation workshops to innovators across the world from South Africa to Colombia. These workshops introduced entrepreneurs to Professor Christensen’s most powerful insights on innovation and market creation, and gave them a space to connect with others who spoke the same language. Establishing a common language of market-creation is the first step to creating an ecosystem that fosters market-creating innovations and sustainable development, which is why in addition to the workshops targeted at innovators, this year we launched the Market-Creating Innovation Bootcamp for Policymakers.
Oftentimes we look to governments to accelerate economic development, but most governments have limited resources to make the necessary investments to spur development. However, they can foster an environment that cultivates market creating innovations (MCIs). That is why in April of this year we presented the first Bootcamp for Policymakers to the Minister and staff at the Ministry of Science, Technology, and Innovation in Uganda. The three-day bootcamp is about understanding, building, and adapting MCIs to each country’s and institution’s development initiatives, and it remains available and open to all.
2023 was a successful year for Global Prosperity, but this success couldn’t have been possible without your continued support. Your encouragement will drive us to continue researching, learning, and spreading the deeply impactful legacy of Clayton Christensen so that together we can create prosperity across the globe.