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.
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. In the context of emerging markets, frugal innovation is not just a matter of exploiting cheap labor but creating more value through resource rationality. Not only commercial enterprises but even social enterprises employ the idea of frugal innovation and direct it to solve sustainability challenges at the Bottom of the Pyramid (BOP) markets. Thus, frugal innovations and technologies have a lot of potentials to contribute towards achieving the Sustainable Development Goals (SDG’s).
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, the usage of this approach is cutting across such boundaries – geographies, industries, and transcending the developed-developing nation dichotomy. Further, frugal innovations can be developed by profit-driven businesses, by social entrepreneurs or NGOs, and by community members to address local constraints. The corporate world has also, gradually, started developing an interest in 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 to bring these innovations in the mainstream. By setting up a center dedicated to frugal innovation at FORE School of Management, we aim to contribute to the area through research and development of the frugal approach to innovation.
To Acquire Global Thought Leadership in Frugal Innovation
|Round Table Conferences||July & September|
|Fore International Conference on Frugal Approach to Innovation (FICFAI)||December|
FORE International Conference on Frugal approach to Innovation (FICFAI)
December 13-14, 2019
FORE International Conference on Frugal approach to Innovation 2019 is the eighth conference of the annual international conference series hosted by FORE School of Management at New Delhi, India. This conference, a first of its kind in India, has the vision to present India’s competence around the frugal approach to innovation. Situated in New Delhi, this conference is well poised to symbolically represent India’s soft power. The conference acknowledges the fact that frugal innovation may not be discussed unless we bring together the practitioners (who are presently doing it, as well as, those who may be inspired to do it), policymakers (who can provide impetus for developing the required ecosystem) and academicians (who will study and disseminate the knowledge around this approach). Thus we have two parallel academic and practitioner tracks so that practice can inform theory as well as vice versa. We also provide a platform where the policymakers, practitioners, and academicians would have a meaningful and systematic dialogue through a panel discussion. Thus, this conference is an effort to look for answers and push forward the research in the field of frugal innovation.
On the academic front, "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" are the academic partners to FICFAI. Further, the conference has “Smart Village Movement", Maker’s Asylum and ICE&SDGs (Institute of Ciurcular Economy and Sustainable Development Goals) as knowledge partners. SunMoksha, Sanshodhan (e-waste exchange), PotHoleRaja and CLEAN (Clean Energy Access Network) are the industry partners. We are also having Srijan Sanchar (Nagpur) as our innovation partners. Thus, the conference is envisioned to have parallel academic and practitioners’ track, as we appreciate the emphasis on the "doing" and "real" part of the frugal innovation.
For call for papers, submission details and important dates, visit: http://fsm.ac.in/conference/ficfai-2019/
Center Head: Prof. Anil Kumar Singh
Faculty Member:Prof. Mukul Joshi
Shubham Mehta (Coordinator)
Shubham Bhattacharya (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.