A recent report in Business Fights Poverty cites the example of Danish biotech company Novozymes, which implemented a strategy called Partnering for Impact to achieve the greatest impact for underserved markets.
Novozymes realized its expertise in the technical innovation space would be insufficient in nations looking to improve their sustainable development goals (SDGs), because pieces of important infrastructure are underdeveloped or missing. For that reason, Novozymes participated in an incubator called DIVA Ventures L3C, which includes foundations, corporations and impact investors that focuses on increasing capabilities and spreading risk. All partners bring their ideas for positive societal change to a joint team governed to DIVA. The venture is then developed systematically to ensure bankable returns. Corporations like Novozymes benefit from strong organizations with proven track records while its partners can see their ideas for societal growth scaled to provide the greatest impact.
Image source: Business Fights Poverty