Innovation is one of the driving forces in development. However, innovation can be expensive and at times risky, which oſten prevents or delays the emergence of important new ideas. That is why Katalyst project has launched the Innovation Fund initiative, a grant delivery mechanism to spur and encourage innovations in Bangladesh’s agri-business sector that ultimately benefit poor farmers across Bangladesh.
The goal of both of this report is to draw lessons from Katalyst’s experience which could be used more broadly. As the private sector assumes a more significant role in the architecture of development it is important to understand more clearly what benefits companies might get from greater engagement; and also what actions work best to facilitate inclusive market approaches.
Inclusive Market Development (IMD) has potential to promote the economic development of the country through the collaborative efforts of different stakeholders (both public and private), by establishing new norms, delivering well-targeted programmes, and providing support to accelerate the pace of change.