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      Emerging Market EntrepreneurshipRemove Emerging Market Entrepreneurship →

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      • March 2019 (Revised April 2021)
      • Case

      The DivaCup: Navigating Distribution and Growth

      By: Ayelet Israeli
      When the mother-daughter founders of DivaCup set out with a mission to disrupt the menstrual care industry with an innovative product form, they initially struggled to gain legitimacy and convince retailers to carry their unique product. Fifteen years later, the... View Details
      Keywords: Female; Female Ceo; Female Entrepreneur; Female Protagonist; Health & Wellness; Healthcare; Price Policies; Minimum Advertised Price; Differentiation; Positioning; Growth; Health; Health Care and Treatment; Price; Disruption; Distribution; Distribution Channels; Competitive Strategy; Competition; Growth Management; Mission and Purpose; Product Development; Product Marketing; Product Launch; Product Positioning; Advertising; Business Startups; Internet and the Web; Entrepreneurship; Social Entrepreneurship; Social Issues; Social Enterprise; Retail Industry; Medical Devices and Supplies Industry; Manufacturing Industry; Health Industry; Green Technology Industry; Education Industry; Distribution Industry; Consumer Products Industry; Canada; United States; United Kingdom
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      Israeli, Ayelet. "The DivaCup: Navigating Distribution and Growth." Harvard Business School Case 519-055, March 2019. (Revised April 2021.)
      • March 2019
      • Supplement

      Koita Milk

      By: Lynda M. Applegate, E. Ofek and Michael Norris
      Keywords: Entrepreneurship; Cash Flow; Food; Growth Management; Social Marketing; Ownership Stake; Agriculture and Agribusiness Industry; Food and Beverage Industry; United Arab Emirates; Dubai
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      Applegate, Lynda M., E. Ofek, and Michael Norris. "Koita Milk." Harvard Business School Multimedia/Video Supplement 819-703, March 2019.
      • 2019
      • Chapter

      International Business and Emerging Markets in Historical Perspective

      By: Geoffrey Jones
      This chapter examines international business in emerging markets over the long run. It shows how the strategies of Western multinationals evolved over time. In the first era of globalization in the 19th century, Western firms sought access to resources, and they faced... View Details
      Keywords: Emerging Markets; Business History; Multinational Firms and Management; Globalization
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      Jones, Geoffrey. "International Business and Emerging Markets in Historical Perspective." Chap. 3 in The Oxford Handbook of Management in Emerging Markets, edited by Robert Grosse and Klaus E. Meyer, 55–76. Oxford, UK: Oxford University Press, 2019.
      • February 2019 (Revised October 2019)
      • Case

      Extend Fertility: Conceiving the Market for Egg Preservation (A)

      By: Debora L. Spar and Olivia Hull
      In April 2003, entrepreneur and MBA student Christy Jones was planning a new venture to help women preserve their fertility. Her company, Extend Fertility, would commercialize a technique known as egg freezing, in which a woman’s eggs were extracted and stored at low... View Details
      Keywords: Assisted Reproduction; Entrepreneur; Health And Wellness; Fertility; Infertility; Women's Health; Creating Markets; Egg Freezing; Fertility Clinic; Entrepreneurship; Strategy; Marketing Strategy
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      Spar, Debora L., and Olivia Hull. "Extend Fertility: Conceiving the Market for Egg Preservation (A)." Harvard Business School Case 719-019, February 2019. (Revised October 2019.)
      • February 2019 (Revised February 2020)
      • Case

      Koita Foods

      By: Lynda M. Applegate, Elie Ofek and Michael Norris
      In 2018, Mustafa Koita, Founder and CEO of Dubai-based organic milk company Koita has to decide whether or not to pursue an investment from a potential competitor who is coming into his local market. View Details
      Keywords: Organic Milk; Mom Blog; Entrepreneurship; Cash Flow; Food; Growth Management; Investment; Social Marketing; Ownership Stake; Agriculture and Agribusiness Industry; Food and Beverage Industry; United Arab Emirates; Dubai
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      Applegate, Lynda M., Elie Ofek, and Michael Norris. "Koita Foods." Harvard Business School Case 819-001, February 2019. (Revised February 2020.)
      • February 2019 (Revised September 2019)
      • Case

      Theranos: The Unicorn That Wasn't

      By: Joseph B. Fuller and John Masko
      In 2003, 19-year-old Elizabeth Holmes founded a startup dedicated to making blood testing easier and more affordable. By 2015, her company, Theranos, was worth $9 billion. It boasted a star-studded board and contracts with national pharmacy and supermarket chains... View Details
      Keywords: Theranos; Blood; Lab Testing; Fraud; Holmes; Balwani; Shultz; Carreyrou; Securities And Exchange Commission; Food And Drug Administration; FDA; SEC; Health Testing and Trials; Corporate Accountability; Organizational Culture; Misleading and Fraudulent Advertising; Crime and Corruption; Entrepreneurship; Medical Devices and Supplies Industry
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      Fuller, Joseph B., and John Masko. "Theranos: The Unicorn That Wasn't." Harvard Business School Case 319-068, February 2019. (Revised September 2019.)
      • February 2019 (Revised July 2025)
      • Case

      Theranos: Who Has Blood on Their Hands? (A)

      By: Nien-hê Hsieh, Christina R. Wing, Emilie Fournier and Anna Resman
      This case covers the rise and fall of Theranos, the company founded by Elizabeth Holmes in 2004 to revolutionize the blood testing industry by creating a device that could provide from a small finger prick the same results and accuracy as intravenous blood draws. As... View Details
      Keywords: Health Testing and Trials; Corporate Accountability; Organizational Culture; Misleading and Fraudulent Advertising; Crime and Corruption; Ethics; Entrepreneurship; Lawsuits and Litigation
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      Hsieh, Nien-hê, Christina R. Wing, Emilie Fournier, and Anna Resman. "Theranos: Who Has Blood on Their Hands? (A)." Harvard Business School Case 619-039, February 2019. (Revised July 2025.)
      • January 2019 (Revised December 2019)
      • Case

      CrossBoundary Energy

      By: John Macomber
      Almost 500 million people are without electricity in sub-Saharan Africa. Governments and public utilities are challenged to bring generation and distribution to most of them. Considerable promise exists in “off-grid” or “mini-grid” technologies, notably using renewable... View Details
      Keywords: Energy Investing; Economic Development; Renewable Energy; Business Growth and Maturation; Developing Countries and Economies; Project Finance; Emerging Markets; Industry Structures; Infrastructure; Segmentation; Private Equity; Decision Choices and Conditions; Energy Industry; Utilities Industry; Africa; Tanzania; Ghana
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      Macomber, John. "CrossBoundary Energy." Harvard Business School Case 219-089, January 2019. (Revised December 2019.)
      • January 2019 (Revised October 2019)
      • Case

      Liulishuo: AI English Teacher

      By: John J-H Kim and Shu Lin
      Educators and entrepreneurs alike are excited about the potential for artificial intelligence (AI) and machine learning to change the way learning will look like in the future. There is a confluence of factors such as the availability of large sources of rich,... View Details
      Keywords: AI; Artificial Intelligence; Education Technology; Information Technology; Education; Entrepreneurship; AI and Machine Learning; Education Industry; China
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      Kim, John J-H, and Shu Lin. "Liulishuo: AI English Teacher." Harvard Business School Case 319-090, January 2019. (Revised October 2019.)
      • January 2019 (Revised November 2019)
      • Case

      Ajeej Capital: Investing in Emerging Markets

      By: Luis M. Viceira and Eren Kuzucu
      In October 2007, Tarek Sakka and Fouad Dajani launched Ajeej Capital, the first independent investment advisory in the MENA region. Fittingly named ajeej, an Arabic word that translates to “growth and propagation in a chaotic setting,” the firm’s AUM grew from $20... View Details
      Keywords: Security Selection; Investments; Growth; Culture; UAE; Finance; Asset Management; Emerging Markets; Capital Markets; Investment; Growth Management; Risk Management; Middle East; Saudi Arabia; Dubai; United Arab Emirates; Egypt; North Africa
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      Viceira, Luis M., and Eren Kuzucu. "Ajeej Capital: Investing in Emerging Markets." Harvard Business School Case 219-029, January 2019. (Revised November 2019.)
      • 2019
      • Working Paper

      Does Public Ownership and Accountability Increase Diversity? Evidence from IPOs

      By: Rembrand Koning and John-Paul Ferguson
      Does public ownership improve employment diversity? Organizational researchers theorize that increased transparency to regulators and the public should lead firms to conform to legal and social norms—but that social closure and decoupling should preserve the status... View Details
      Keywords: IPO; Initial Public Offering; Employees; Diversity; Gender; Race; Entrepreneurship; United States
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      Koning, Rembrand, and John-Paul Ferguson. "Does Public Ownership and Accountability Increase Diversity? Evidence from IPOs." Harvard Business School Working Paper, No. 19-071, January 2019.
      • January 2019 (Revised March 2021)
      • Case

      SoundCloud: Subscription Streaming?

      By: Ashish Nanda, Eric Van den Steen, Andy Wu, Jeffrey Boyar and Bonnie Bennett Slater
      Established in 2007, SoundCloud already boasted the second largest number of active music listeners among all streaming services and was recognized as the go-to platform for new artists by early 2014. Yet, its founders were questioning the robustness of the firm’s... View Details
      Keywords: Audio; Recording; Artist; Music; Music Downloads; Streaming; Radio; Subscription; Subscription Model; Mainstream; Growth; Lawsuit; Licensing; Customers; Platform; Pivot; Music Entertainment; Strategy; Leadership; Business Model; Decision Making; Advertising; Digital Platforms; Music Industry; Europe; Germany; Sweden; United States
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      Nanda, Ashish, Eric Van den Steen, Andy Wu, Jeffrey Boyar, and Bonnie Bennett Slater. "SoundCloud: Subscription Streaming?" Harvard Business School Case 719-430, January 2019. (Revised March 2021.)
      • January 2019 (Revised October 2019)
      • Case

      Glossier: Co-Creating a Cult Brand with a Digital Community

      By: Jill Avery
      Glossier’s proclaimed strategy was “born from content; fueled by community.” The digital-first, direct-to-consumer beauty brand had experienced rapid growth, with sales up 600% in 2017 and a customer portfolio that grew by threefold. But, its founder, Emily Weiss, was... View Details
      Keywords: Brands; Brand Management; Brand Communication; Retailing; DTC; Influencer; Startup; Internet Marketing; Big Data; Crowdsourcing; Growth and Development Strategy; Social Media; E-commerce; Internet and the Web; Digital Marketing; Consumer Products Industry; Beauty and Cosmetics Industry; Retail Industry; United States; North America
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      Avery, Jill. "Glossier: Co-Creating a Cult Brand with a Digital Community." Harvard Business School Case 519-022, January 2019. (Revised October 2019.)
      • January 2019 (Revised July 2021)
      • Case

      Analytical Space: The Next Frontier?

      By: Thomas R. Eisenmann, Jeffrey J. Bussgang and David Lane
      With one satellite aloft and in the midst of beta testing in late 2018, Analytical Space founders Justin Oliveira and Dan Nevius turned to critical questions about the pioneering startup’s go-to-market, pricing, and business development strategy. Analytical Space aimed... View Details
      Keywords: Pricing Decisions; Demand Validation; Revenue Model; Business Development; Space Tech; Satellites; Earth Observation; Remote Sensing; Business Startups; Emerging Markets; Growth and Development Strategy; Finance; Selection and Staffing; Business Strategy; Aerospace Industry
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      Eisenmann, Thomas R., Jeffrey J. Bussgang, and David Lane. "Analytical Space: The Next Frontier?" Harvard Business School Case 819-089, January 2019. (Revised July 2021.)
      • January 2019 (Revised October 2019)
      • Case

      Rural Taobao: Alibaba's Expansion into Rural E-Commerce

      By: Tarun Khanna, Ryan Allen, Adam Frost and Wesley Koo
      Alibaba's Rural Taobao initiative had been launched in 2014 as a public service initiative to increase e-commerce adoption in China’s remote rural areas. In the first two iterations of the initiative, dubbed “1.0” and “2.0,” Alibaba had partnered with local businesses... View Details
      Keywords: Strategy; Business Growth; Ecommerce; Corporate Social Responsibility; Business And Government; Emerging Market; Digital Platforms; Internet and the Web; Emerging Markets; Rural Scope; Growth and Development Strategy; Competitive Strategy; Corporate Social Responsibility and Impact; Business and Government Relations; Decision Making; E-commerce; China
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      Khanna, Tarun, Ryan Allen, Adam Frost, and Wesley Koo. "Rural Taobao: Alibaba's Expansion into Rural E-Commerce." Harvard Business School Case 719-433, January 2019. (Revised October 2019.)
      • Article

      Oral History and the Business History of Emerging Markets

      By: Geoffrey Jones and Rachael Comunale
      This article highlights the benefits that rigorous use of oral history can offer to research on the contemporary business history of emerging markets. Oral history can help fill some of the major information voids arising from the absence of a strong tradition of... View Details
      Keywords: Oral History; Corruption; Business History; Emerging Markets; Entrepreneurship; Globalization; Business and Government Relations; Government and Politics; Asia; Africa; Latin America
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      Jones, Geoffrey, and Rachael Comunale. "Oral History and the Business History of Emerging Markets." Enterprise & Society 20, no. 1 (March 2019): 19–32.
      • December 2018 (Revised February 2020)
      • Case

      Fishbowl: Scaling Up

      By: Leslie K. John
      Fishbowl is a social media app that allows professionals to connect with other relevant professionals both within their company and across industry. Unlike many other social media apps, on which users typically present idealized portraits of themselves, on Fishbowl,... View Details
      Keywords: Communication Technologies; Customer Value; Value Chain; Interpersonal Communication; Talent and Talent Management; Customer Value and Value Chain; Entrepreneurship; Business Model; Growth and Development Strategy; Marketing Strategy; Advertising; Product Marketing; Digital Platforms; Consumer Behavior; Network Effects; Emotions; Motivation and Incentives; Trust; Applications and Software; Technology Adoption; Social Media; Communications Industry; Employment Industry; Media and Broadcasting Industry; Technology Industry; Telecommunications Industry; United States
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      John, Leslie K. "Fishbowl: Scaling Up." Harvard Business School Case 919-013, December 2018. (Revised February 2020.) (Email mking@hbs.edu for a courtesy copy.)
      • December 2018 (Revised January 2020)
      • Case

      Husk Power: Scaling the Venture

      By: Benjamin N. Roth, Joseph B. Lassiter III and Natalia Rigol
      In January 2018, Manoj Sinha—founder and CEO of Husk Power—was contemplating raising $20 million to scale operations for a second time. From 2007 through 2013, Husk built 80 biomass waste plants that provided electricity to 250,000 villagers and shop owners spread... View Details
      Keywords: Scaling; Energy; Entrepreneurship; Emerging Markets; Growth and Development Strategy; Energy Industry; India
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      Roth, Benjamin N., Joseph B. Lassiter III, and Natalia Rigol. "Husk Power: Scaling the Venture." Harvard Business School Case 819-069, December 2018. (Revised January 2020.)
      • December 2018 (Revised October 2019)
      • Case

      Barteca: The Challenge and Opportunity of Private Equity

      By: Lena G. Goldberg and Michael S. Kaufman
      Andy Pforzheimer and Sasa Mahr-Batuz, co-founders of a highly successful seven-location restaurant brand, had just opened the first location of a new brand. They had mapped out future expansion for both brands but wondered if, rather than lining up an assortment of... View Details
      Keywords: Restaurants; Brands and Branding; Expansion; Private Equity; Strategy; Decision Making
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      Goldberg, Lena G., and Michael S. Kaufman. "Barteca: The Challenge and Opportunity of Private Equity." Harvard Business School Case 319-076, December 2018. (Revised October 2019.)
      • December 2018 (Revised December 2019)
      • Case

      Commonwealth Joe Coffee Roasters

      By: Alexander MacKay and Ramon Casadesus-Masanell
      At the end of 2016, the leadership team of Commonwealth Joe Coffee Roasters—Robert Peck, Chase Damiano, and Jeremy Martin—had begun an ambitious retail expansion strategy in the Washington, D.C. metropolitan area for their specialty coffee business. That October, they... View Details
      Keywords: Cold Brew Coffee; Specialty Coffee; On-premise Coffee Market; Retail Expansion Strategy; Entrepreneurship; Business Model; Brands and Branding; Expansion; Strategy; Decision Making; Food and Beverage Industry; Retail Industry
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      MacKay, Alexander, and Ramon Casadesus-Masanell. "Commonwealth Joe Coffee Roasters." Harvard Business School Case 719-451, December 2018. (Revised December 2019.)
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