UNICEF's Innovation Unit works on creating inventive technologies and practices to enhance the organization's mission, but with such high costs, it can be difficult to convince drug companies to invest in developing countries' needs.
As part of HuffPost Live's continued coverage of 2015 World Economic Forum, UNICEF Innovation Unit co-founder Chris Fabian explained to host Nancy Redd that his team developed a set of principles around innovation that they use to engage a "common ground" between corporations and civic needs.
"By having an approach where we look at creating good business, in all of the ways that term means something, that helps a company move its for-profit agenda forward, but also really keeps equity in terms of looking at the most vulnerable populations. ... We at UNICEF can be a good broker of that," Fabian said.
Shannon Firth, a contributor for MedPage Today, also joined the conversation, emphasizing how investing in preventative measures is much cheaper than repair. She explained:
Things like clean water and immunization and a device that is very affordable and accessible that allows for a male circumcision in a very cheap easy way, that can cut down on massive healthcare costs and it's a good business as well. It's a good business model to have because it's not something that will break easily and it's not something that takes a lot of know how to use.
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