Crafting markets and fostering entrepreneurship within underserved communities: social ventures and clean energy provision in Asia

In this paper, we conceptualize markets for underserved communities as being constituted by local institutions that reflect the modalities of these individual’s lives. Using data on the activities that four social ventures across India, Bangladesh and Cambodia have undertaken to craft new markets for their clean energy solutions, we highlight how these actors incorporate their technologies within native material understandings, develop transaction systems consistent with resident consumption practices and entrench their organizations into the existing infrastructure. We term these processes indigenizing, microprovisioning and codeveloping, respectively. In meshing local context as part of their market crafting efforts, these ventures seed micro-entrepreneurship activity, generate employment for locals as well as improve standards of living within the community through the provision of productivity enhancing products and services. Our findings highlight the significance of engaging with local institutions as part of market crafting efforts in these scenarios. This paper offers insights that contribute to the sociology of markets, and poverty reduction via entrepreneurship literatures as well as have important practical and policy implications.