Frugal Innovation [ Episode 8 ]

Frugal innovation is an approach to product or service development that focuses on creating high-value solutions with minimal resources. It involves simplifying processes, minimizing costs, and maximizing efficiency while maintaining product quality and effectiveness. Frugal innovation is often driven by the need to serve underserved or resource-constrained markets, but it can also benefit companies by reducing waste and increasing affordability. It emphasizes creativity, adaptability, and doing more with less, making it a valuable strategy in both emerging and developed economies.