innovation for inclusive and sustainable growth : case for frugal innovation
TRANSCRIPT
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Anirudh Agrawal, PhD Fellow, CBS CSR
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Frugal Innovation
• Design to extreme affordability• Strategic thinking towards volume markets• Creativity and innovation towards extreme
affordability• Design, engineer and produce for marginal
markets• Translating and innovating a high margin brand
for low margin markets• Creating and innovating towards branded and
quality products for marginal markets
Frugal innovation blogpost, stanford.edu, uni. Santabarbara – frugal innovation centrAnirudh Agrawal, PhD Fellow, CBS CSR
![Page 3: Innovation for Inclusive and Sustainable Growth : case for Frugal Innovation](https://reader034.vdocument.in/reader034/viewer/2022042607/55a57a491a28ab6b048b4647/html5/thumbnails/3.jpg)
Anirudh Agrawal, PhD Fellow, CBS CSR
![Page 4: Innovation for Inclusive and Sustainable Growth : case for Frugal Innovation](https://reader034.vdocument.in/reader034/viewer/2022042607/55a57a491a28ab6b048b4647/html5/thumbnails/4.jpg)
Anirudh Agrawal, PhD Fellow, CBS CSR
![Page 5: Innovation for Inclusive and Sustainable Growth : case for Frugal Innovation](https://reader034.vdocument.in/reader034/viewer/2022042607/55a57a491a28ab6b048b4647/html5/thumbnails/5.jpg)
Anirudh Agrawal, PhD Fellow, CBS CSR
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Anirudh Agrawal, PhD Fellow, CBS CSR
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Microfinance?• Microfinance is the offer of financial & non-financial services to
people excluded from the traditional banking system. The services are adapted to the needs of the target populations.
FINANCE MICRO
• Micro-entrepreneurs• Self-employed • Low income populations• Excluded populations
• Business & educational loans• Savings• Micro-insurances• Remittances
• Micro-entrepreneur training• Coaching & workshops on health, hygiene, etc.
Anirudh Agrawal, PhD Fellow, CBS CSR
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The big Problem
• Base of the pyramid– 80 percent of the global population has no access to clean water
and sanitation– 70 percent of global population lives under 2 dollars/day– 60 percent of the global population sleep hungry– 50 percent of global population have no weather proof housing– 70 percent of global population cannot read and write
• Top of the pyramid – Climate change– Resource Sustainability– CSR
Anirudh Agrawal, PhD Fellow, CBS CSR
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Our contribution
• Mitigating climate change risk yet increasing HDI using frugal innovations
• Addressing frugal markets using sustainable practices
• Addressing frugal markets by integrating CSR strategies
• Addressing Ethical issues in Frugal Markets
Anirudh Agrawal, PhD Fellow, CBS CSR
TOP
BOP
Frugal Innovation
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Anirudh Agrawal, PhD Fellow, CBS CSR
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Electric Tricycle
Anirudh Agrawal, PhD Fellow, CBS CSR
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Anirudh Agrawal, PhD Fellow, CBS CSR
Village Cooking Stove
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Anirudh Agrawal, PhD Fellow, CBS CSR
Grid Less Electricity Supply
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Water Harvesting
Anirudh Agrawal, PhD Fellow, CBS CSR
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Pay as you use model for Sanitation
Anirudh Agrawal, PhD Fellow, CBS CSR
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Prefabricated Houses
Anirudh Agrawal, PhD Fellow, CBS CSR
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Anirudh Agrawal, PhD Fellow, CBS CSR
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Anirudh Agrawal, PhD Fellow, CBS CSR
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Education
• Primary ??.... School dropout is highest
• Secondary??
• Tertiary
– Coursera
– Edx
Anirudh Agrawal, PhD Fellow, CBS CSR
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Criticism and Caution
• Ethical Marketing
• Labeling and Framing
• Institutionalization of Innovation
• Profiteering
Anirudh Agrawal, PhD Fellow, CBS CSR
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Ethical Marketing
Anirudh Agrawal, PhD Fellow, CBS CSR
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Labeling and Framing : Poor Mans’ car
Anirudh Agrawal, PhD Fellow, CBS CSR
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Electric Tricycle
Anirudh Agrawal, PhD Fellow, CBS CSR
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Profit Maximization vs Profit Distribution
• SKS Microfinance vs Grameen Bank
Anirudh Agrawal, PhD Fellow, CBS CSR