Lecture 2

From the industrial revolution onward, the history of innovation has mostly been played out in the developed world. Innovative companies have excelled at creating new products and services that wealthier people can afford. But simply replicating a model that has been successful in richer societies will not work in the developing world, where the means are scarce and the needs are huge.

Billions of poor people live in developing countries. Many of them are now rapidly growing economies, but inequality, disease and hunger remain endemic. If the benefits of economic growth are to be spread more widely, innovation has to serve the needs of the poor, who often have creative ideas to solve their own problems but don't find proper support to develop them.

This is why Sam Pitroda - inventor, entrepreneur and adviser to the prime minister of India on innovations - argues for a radical rethink on innovation and calls for a new mindset.

In his inspiring lecture, he presented how India has been building a framework to support innovators from the bottom of the socio-economic pyramid, and how this will transform the lives of many. To him, achieving this is not just a major business opportunity. It is also the moral responsibility of governments and business if they are serious about spreading prosperity, and the right answer to the global challenges that mankind faces.