Products based on technological developments have historically been targeted towards the wealthy consumer, who has a larger amounts of expendable income. However, some of the largest markets yet to be tapped into are those in the developing world.

Using scalable technology: Expanding Markets & Decreasing Poverty

Water scarcity is an issue that affects 800 million subsistence and small share holder farmers around the world.  Global Easy Water Enterprises is a for-profit company that is taking advantage of this untapped market by, but developing small drip irrigation systems that are affordable for farmers living on less then two dollars a day.  This system has proven to dramatically increase productivity and lift people out of poverty.

As farmers increase their productivity in a less labor intensive way, the benefits go beyond the new source of income and food.  In Pakistan where this same drip irrigation system is being used, one farmer told his children no longer need to travel as migrant laborers and now can attend school.  He not only is allowing his boys to attend school. but also his daughters.  The positive outcomes of income generation are vast, and include opportunities for gender equality, education, and a decrease in the disease transfer often associated with migrant labor and food security.

Jacqueline Novogratz, founder and head of the Acumen Fund, a nonprofit that takes a businesslike approach to improving the lives of the poor, explains the linkages between creative solutions and poverty alleviation.

Opportunities in Adaptation for U.S. Businesses:

On September 15, 2009 representatives from Nike, General Electic, Starbucks, Levi Straus & Co. and Calvert met with Senate staff to explain the need for increased funding for adapatation (3%) in the Senate Climate Bill.  These large companies know that changes in climate will effect their bottom line, whether it’s related to cotton or coffee.  They also know that there is a huge opportunity when it comes to developing new technologies that address challenges related to climate change.

In a report release on the same day, Oxfam America highlighted some of the areas where U.S. companies were already investing in the adaptation markets.   The report highlighted that “with focused investment and innovation, the private sector can be an important part of what
we term the new “adaptation marketplace.” Building preparedness for climate change through investments in adaptation can incentivize new and expanded economic activity, help create jobs, and reinforce efforts to reduce emissions. We have identified seven sectors where early and rapid growth is most likely.” The report includes company names and products by state.  Download it here.

“ We see investments in adaptation as a win-win. Adaptation efforts that respond to more severe climate impacts at home and abroad can create new jobs and drive economic growth. They can also help developing countries cope with a changing climate.”
—Brian Bieron, Senior Director, Federal Government Relations and Global Public Policy, eBay Inc.

“ Paul Schuler of General Electric’s Water Technologies Unit says that GE wants to ensure that its products, everything from systems that recycle wastewater to high-tech purifiers, are the go-to technologies for drought-prone regions. … ‘In all honesty, it’s a money-making strategy, but you can do the right thing and make money. They’re not mutually exclusive.’”
—National Public Radio’s Marketplace, June 25, 2009

For those interested in exploring new products and markets, the possibility of income from scalable products in rural markets has never been greater.