In this guest blog post, Chris Mitchell of Bain & Company discusses a new paper, Growing Prosperity, compiled in collaboration with Acumen, that focuses on optimizing interaction between farmers and pioneer firms—entrepreneurial companies that develop and offer market-based innovations to serve the poor.
Pioneer firms are bringing innovative solutions to resource-poor farmers in places where governments and traditional aid have fallen short. But what needs to happen to spur sustained adoption of the innovations on offer that will allow these firms to serve hundreds of thousands, or even millions, of smallholder farmers? The work of these pioneer firms is simply too important to remain small scale, and there is potential for a real breakthrough in the next 5 to 10 years. With this study, we hope to shift the odds more in favor of pioneer firms and the smallholder farmers they serve.
Three key findings from our research point to what these firms and other actors must do. Continue reading