Sitting in a brightly lit classroom at the Stanford Business School three years ago, Matt Scott got to wondering what it would take to light the rest of the world. Artificial lighting may not seem a necessity like food or shelter, but 1.6 billion people around the globe lack access to electricity and the on-off switches we take for granted. Inspired by the Light Up the World Foundation, which promotes the use of energy-efficient light-emitting diodes (LEDs), Scott, now 31, traveled to India and in 2004 partnered with Amit Chugh to devise a market strategy for replacing the kerosene lamp.
The...