Creating social impact using reverse innovation and social entrepreneurship

Abstract

Emerging economies particularly India holds incandescent future with lots of un-broached opportunities. New innovative era has strongly knocked the doors of approximately all the existing fields of the country right from technical to non- technical ones. Reverse innovation is unique of them which is an offshoot of innovation movement. India being a developing country offer huge potential for reverse innovation. The connection of social entrepreneurship and reverse innovation can create more impact in addressing societal problems at reasonable cost. Social entrepreneurs can play vital role by leveraging the opportunity to find solution to social problems with the help of reverse innovation. Keeping objective in mind, the present paper is modest attempt to understand the concept of reverse innovation, its role in developing economies and developed economies and how it can contribute towards addressing social problems. The findings of the paper will have implications for the policy makers to frame strategies to leverage the benefits of reverse innovation.