Jack Sim, Founder of World Toilet Organization and a speaker at the Elite Summit discusses absorbing lessons from the story of one UHNWI devoting his life and wealth to social entrepreneurship. The four billion human beings living at the base of the pyramid (BOP) today represent a neglected, but potentially massive, marketplace for the global economy. Instead of trying to reach them through charity-buying, imagine if we could empower them economically by teaching them to do business, create jobs locally and training them with trade skills. This would go far beyond philanthropy and be an investment in their self-sustainability. Creating a vibrant and efficient marketplace for the BOP has the potential to rapidly alleviate poverty by helping them to help themselves and their community while including them into our formal economy. In this session, Jack Sim will pull from his own life story to shed some light on how to design business to end poverty while incentivising every stakeholder.
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