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.