The Vijay Govindarajan Video Series Week 16
This week’s edition of the Vijay Govindarajan Three Box Solution Video Series features VG’s final example of reverse innovation:
Video 22: Reverse Innovation – The $300 House
The $300 House is a project that epitomises Box 3 thinking. The challenge to design a $300 house is not about lowering costs or providing charity housing. Box 3 innovation is about doing more with less and about offering a product high in quality at a dramatically low price point. It’s about turning non-consumers into consumers and creating a profitable business.
The $300 House takes into account not just the requirement for shelter, but also human needs for health, education and jobs. To keep people healthier it provides good air circulation, proper sunlight, clean drinking water, and mosquito netting. Even more, it includes digital connectivity, which opens up opportunities for education, banking, and healthcare.
The $300 House, VG says, is another great example of a non-linear business model, of Box 3 thinking and of reverse innovation. The $300 House is not just for emerging nations, it is a product that has an appeal for everyone and has powerful growth potential.
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