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Center for Research and Innovation in Frugal Technology Management (CRIFT)

Center for Research and Innovation in Frugal Technology Management (CRIFT)

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, which is first of its kind in India on frugal innovations, will work closely with industry and technology institutes in India and abroad to contribute to the body of knowledge in the area of frugal innovations and seek markets and commercial feasibility for frugal innovations. In this context, the Center is signing an initial MOU with Nagpur based organisation called Srijan Sanchar which will help CRIFT in developing the network and achieving the set goals.

Technological innovations can take several forms. Frugal Innovations is one such form that mainly emerged in the context of emerging markets. It involves redesigning products and processes to cut out unnecessary costs. Social enterprises are built around the idea of Frugal Innovation and entrepreneurship to solve sustainability challenges in the Bottom of the Pyramid (BOP) markets. Frugal Innovations are new and emerging technological paradigms. It is not just a matter of exploiting cheap labour but creating more value through resource rationality. Frugal innovations and technologies have a lot of potential to contribute towards achieving the Sustainable Development Goals (SDG’s). By setting up a Frugal Innovation Center at FORE School of Management we aim to contribute to the area through research and development. Frugal innovations and technologies reduce complexity and total lifecycle costs, enhance functionality, provide high user value and affordable solutions for relatively low-income customers. Frugal innovations can be developed by profit driven businesses, by social entrepreneurs or NGOs, and by community members to address local constraints. Corporate world has also, gradually, started developing interest in the Frugal Innovations. In this context, CRIFT has an important role to play in developing the body of knowledge in the area and bridge the gap between market and frugal inventions in order to bring these innovations in the mainstream.

Vision:

To Acquire Global Thought Leadership in Frugal Innovation

Primary focus / thrust Areas of the Center:

  • The Center will explore, develop, and share knowledge on frugal innovation. The proposed Center would be a multidisciplinary hub for developing, synthesising and sharing academic and practitioner’s knowledge on frugal innovation. We aim to use and share this knowledge to contribute to addressing the Sustainable Development Goals (SDG’s).
  • The Center will work with the corporate sector, start up community, academic institutions, societal partners, government etc, to combine academic research and more practical approaches with a range of disciplines and sources of expertise; The Center aims at capturing the multidisciplinary character of frugal innovations and technologies.

Mission and Objectives:

  • Knowledge generation
  • To organise workshops and annual conferences as a vantage point on the subject every year
  • Focal point for knowledge management
  • Act as Industry-academia Interface on frugal Innovation
  • Integrate multiple perspectives, agglomerate approaches and ideas on frugal innovation
  • Set Frugal Innovation challenges in diverse fields
  • Evolve academic Projects on frugal innovation to products and practices
  • Convert ideas to Action
  • Become repository of Best practices
  • Develop skill sets to make an impact on society

The CRIFT is planning to organise a workshop on Frugal Innovations at FORE School of Management on January 3, 2019. The workshop will host eminent people in the area from industry and academia to discuss the challenges and roadmap for developing frugal innovations in India. The workshop will integrate multiple perspectives, agglomerate approaches and ideas to set a pace for the Center. The CRIFT will also set a board of eminent people who will guide the Center of excellence. The CRIFT is working on setting up of Frugal Incubation Center, first of its kind in India, in near future.

Center Head: Prof. Anil Kumar Singh

Email: crift@fsm.ac.in

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