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Bright Light Innovations

In: Business and Management

Submitted By tariq2178
Words 1474
Pages 6
The population of the world today is 7 billion (Census, 2011). With all the developments in the Field of Energy generation, like Nuclear power, hydroelectric power, Wind and Solar Energy, 24 hrs. of electricity all year round is not a myth anymore. The Earning potential of the middle class has increased tremendously and an ordinary middle income household earns roughly 60-90 thousand dollars in a year here in the United States of America (Census, 2007). With these stats in mind it’s hard to comprehend a family living without electricity all year throughout and earning a meager 2-5 dollars a day. At present there are 3 billion people in the world earning less than 5 dollars a day, and living without electricity. They rely on Biomass fuel and Wood for their energy needs, be it related to light or heat. The indoor air pollution resulting from this use of wood and biomass fuel claims approx. 1.5 million lives each year. The tackle the issue faced by these billion people, students and faculty of Colorado State University (CSU), college of Business and engineering, innovated the Starlight Stove, which is fuel efficient, reduces air pollution and also generates electricity that can be stored for future use or used to light a bulb. The Faculty and Students are wondering how to produce the stove at cheap price for the poor, and also generate enough revenue to sustain the product. The idea of micro financing looks feasible to them, though the ability to use microloans though a micro financing organization is a little tough as most of the population is poor and illiterate. According to MicrofinanceGateway.org, Most microcredit borrowers have microenterprises unsalaried, informal income generating activities. research suggests that only half or less of loan proceeds are used for business purposes. The remainder supports a wide range of household cash management needs,…...

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