Building a simple solution to a global problem | Gavin Armstrong | TEDxStouffville

Summary

The Lucky Iron Fish is an innovative, culturally relevant solution to global iron deficiency, affecting 3.5 billion people worldwide. This simple, fish-shaped iron piece provides up to 75% of daily required iron intake by boiling it in water or food for 10 minutes. Cost-effective at $5 for five years of use, the Lucky Iron Fish is a sustainable, locally produced product with significant social impact, offering jobs in Cambodia and reducing healthcare costs. Its proven efficacy and affordability make it a powerful tool in combating iron deficiency, with plans to scale globally and impact millions.

Takeaways

• 😀 Iron deficiency is a global problem affecting 3.5 billion people, leading to fatigue, dizziness, and in extreme cases, death.
• 😀 Iron deficiency reduces productivity by 20%, causing a global economic loss of $70 billion annually.
• 😀 The Lucky Iron Fish is a simple, cost-effective solution to combat iron deficiency by releasing iron into food when boiled.
• 😀 The Lucky Iron Fish is shaped like a fish, which symbolizes luck and prosperity in Cambodia, increasing product acceptability.
• 😀 Unlike expensive iron supplements, the Lucky Iron Fish costs $5, lasts for 5 years, and benefits the entire family.
• 😀 The Lucky Iron Fish was initially tested in Cambodia, where half the population, especially women and children, suffer from iron deficiency.
• 😀 The product is produced locally in Cambodia, contributing to economic stimulus, skills development, and employment, particularly for disabled individuals.
• 😀 The Lucky Iron Fish’s production uses recycled materials, including car parts, and its packaging is 100% biodegradable.
• 😀 The company partners with local agencies for distribution, ensuring that the Lucky Iron Fish reaches remote areas, including those affected by difficult terrain and weather.
• 😀 The company operates as a social business, blending revenue generation with philanthropic support to scale and improve global health outcomes.
• 😀 Despite challenges in affordability and distribution to remote areas, the company has been successful in scaling operations with support from Canadian and Cambodian organizations.

Q & A

What is the main global issue the speaker addresses in the presentation?

The main issue discussed is iron deficiency, which affects 3.5 billion people globally, leading to various health problems such as fatigue, dizziness, and in extreme cases, death.

What are the main symptoms of iron deficiency?

The main symptoms of iron deficiency include fatigue, tiredness, dizziness, and in severe cases, it can even lead to death.

What is the 'Lucky Iron Fish' and how does it work?

The Lucky Iron Fish is a simple solution to combat iron deficiency. It is a fish-shaped object made of iron that, when boiled in water or food, releases up to 75% of the daily required iron intake.

Why was the Lucky Iron Fish designed in the shape of a fish?

The fish shape was chosen because it symbolizes luck and prosperity in Cambodia, where the project started. This cultural connection significantly improved compliance with its use.

How does the Lucky Iron Fish compare in cost to traditional iron supplements?

The Lucky Iron Fish costs $5, and one fish can last over 5 years, while iron supplements cost an average of $30 per person per year.

What is the potential economic impact of widespread use of the Lucky Iron Fish?

If used globally, the Lucky Iron Fish could save up to $70 billion a year by improving productivity and health, particularly in developing countries where iron deficiency is widespread.

How does the Lucky Iron Fish contribute to the local economy in Cambodia?

The Lucky Iron Fish is produced locally in Cambodia, creating economic stimulus through employment and skills development, including hiring disabled Cambodians and landmine victims for production and packaging.

What challenges does the Lucky Iron Fish project face in its distribution?

Two major challenges include the affordability of the fish for people living on less than $1 a day and the difficulty of distributing to remote areas, especially during the rainy season when roads become inaccessible.

What makes the Lucky Iron Fish a sustainable solution?

The Lucky Iron Fish is made from recycled materials, including car parts, and is produced with biodegradable packaging. Additionally, it is manufactured locally, supporting the Cambodian economy and creating long-term employment opportunities.

What is the long-term goal for the Lucky Iron Fish project?

The long-term goal is to sell 1 million Lucky Iron Fish in Cambodia, improving the lives of 5 million people. The project also aims to employ 100 Cambodians in production and 50 more for packaging and distribution.