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FORE School of Management has set up a new Center of Excellence in the area of Frugal Innovations which will be called “Center for Research and Innovation in Frugal Technology Management” (CRIFT). The Center, a first of its kind in India, focuses on researching, promoting, and implementing frugal innovations. CRIFT members work closely with many industries and institutions, collaborating across the globe to contribute to the body of knowledge in the area of frugal innovations, seeking market-ready and commercially feasible frugal innovations.
Technological innovations can take several forms. Frugal Innovations is one such branch that emerged in the evolving market space. It involves redesigning products and processes to cut out unnecessary costs. In the context of emerging markets, frugal innovation is not just a matter of exploiting cheap labor, but rather about creating value through resource rationing. Commercial enterprises and social enterprises today, employ the idea of frugal innovation and direct it towards solving sustainability challenges across ‘Bottom of the Pyramid (BOP)’ markets. Frugal innovations and technology also bear the potential to contribute towards achieving Sustainable Development Goals (SDGs).
Frugal innovations and technologies reduce complexity and total lifecycle costs, enhance functionality, provide high user value and affordable solutions for relatively low-income customers. However, over time, this approach has cut across the borders of geography and industry, aiming to transcend the gap between developed and developing nations. Fortunately, frugal innovations can be developed by profit-driven businesses, social entrepreneurs or NGOs, and by community members to address local constraints. The corporate world has developed an active interest in Frugal Innovation, given the need for evolving business practices and growing constraints.
In this context, CRIFT serves an important role in forming a body of knowledge for frugal innovation and technology, with the aim of bridging the gap between early innovation to mainstream implementation. Formed at the FORE School of Management, the Centre for Research and Innovation in Frugal Technology Management (CRIFT) aims to nourish the research and development of frugal approaches to innovation.
To Acquire Global Thought Leadership in Frugal Innovation
FORE International Conference on Frugal approach to Innovation (FICFAI)
FORE International Conference on Frugal Approach to Innovation (FICFAI) 2019, a two-day conference on December 13–14, 2019, was eighth in the series of annual international conferences hosted by FORE School of Management, New Delhi. This one of its kind of conference in India was spearheaded by the Centre for Research and Frugal Innovation Technology Management (CRIFT). FICFAI 2019 hosted eminent participants from across the globe – with the primary goal of exploring creating and disseminating knowledge on a “frugal approach to innovation” to enable real-world solutions. FICFAI 2019 conference theme could address the niche and appeal to scholars in the innovation domain. With around 35 invited speakers in plenary sessions in addition to academic presentations by scholars from the USA and Spain and institutes like IIT Kanpur, IIT Guwahati, EDII Ahmedabad, NID Ahmedabad and DU alike, FICFAI 2019 have contributed in modest capabilities towards contributing to the body of knowledge in understanding of “Frugal Innovation”.
FICFAI 2019 acted as a platform for like-minded organizations and research centers to come together for the cause of “frugal innovations”. FICFAI had Leiden-Delft-Erasmus Centre for Frugal Innovation in Africa (CFIA), The Australasian Frugal Innovation Network (AFIN), and The Center for Research and Interdisciplinarity (CRI) Paris as the academic partners. FICFAI was associated with the InnoFrugal, Smart Village Movement (SVM), ICE&SDGs (Hyderabad), and Maker's Asylum as its knowledge partners; and PotHoleRaja, Sanshodhan, SunMoksha and CLEAN (Clean Energy Access Network) as its industry partners. The conference is being supported by YuKTI - Yogya Kalakriti ki Taknike (IIT Kanpur) and Center for Frugal Innovation (TIM/TUHH, Germany). Srijan Sanchar (Nagpur) has been a long-standing innovation partner to CRIFT.
To learn more, visit: http://fsm.ac.in/conference/ficfai-2019/
Center Head: Prof. Anil Kumar Singh
Faculty Member:Prof. Mukul Joshi
|Astitva 2.0||October 2020|
|Rural to Frugal||November 2020|
|Astitva 3.0||December 2020|
|Round Table Conference- 03||February 2021|
|Distribution challenge||March 2021|
Shubhangi Gupta (Coordinator)
Priyanshu Gupta (Co-coordinator)
FORE School of Management has been designing, developing and conducting innovative Executive Education (EE)/ Management Development Programmes (MDPs) for working executives in India for over three decades.