innovation for inclusive and sustainable growth : case for frugal innovation
TRANSCRIPT
Anirudh Agrawal, PhD Fellow, CBS CSR
Frugal Innovation
• Design to extreme affordability• Strategic thinking towards volume markets• Creativity and innovation towards extreme
affordability• Design, engineer and produce for marginal
markets• Translating and innovating a high margin brand
for low margin markets• Creating and innovating towards branded and
quality products for marginal markets
Frugal innovation blogpost, stanford.edu, uni. Santabarbara – frugal innovation centrAnirudh Agrawal, PhD Fellow, CBS CSR
Anirudh Agrawal, PhD Fellow, CBS CSR
Anirudh Agrawal, PhD Fellow, CBS CSR
Anirudh Agrawal, PhD Fellow, CBS CSR
Anirudh Agrawal, PhD Fellow, CBS CSR
Microfinance?• Microfinance is the offer of financial & non-financial services to
people excluded from the traditional banking system. The services are adapted to the needs of the target populations.
FINANCE MICRO
• Micro-entrepreneurs• Self-employed • Low income populations• Excluded populations
• Business & educational loans• Savings• Micro-insurances• Remittances
• Micro-entrepreneur training• Coaching & workshops on health, hygiene, etc.
Anirudh Agrawal, PhD Fellow, CBS CSR
The big Problem
• Base of the pyramid– 80 percent of the global population has no access to clean water
and sanitation– 70 percent of global population lives under 2 dollars/day– 60 percent of the global population sleep hungry– 50 percent of global population have no weather proof housing– 70 percent of global population cannot read and write
• Top of the pyramid – Climate change– Resource Sustainability– CSR
Anirudh Agrawal, PhD Fellow, CBS CSR
Our contribution
• Mitigating climate change risk yet increasing HDI using frugal innovations
• Addressing frugal markets using sustainable practices
• Addressing frugal markets by integrating CSR strategies
• Addressing Ethical issues in Frugal Markets
Anirudh Agrawal, PhD Fellow, CBS CSR
TOP
BOP
Frugal Innovation
Anirudh Agrawal, PhD Fellow, CBS CSR
Electric Tricycle
Anirudh Agrawal, PhD Fellow, CBS CSR
Anirudh Agrawal, PhD Fellow, CBS CSR
Village Cooking Stove
Anirudh Agrawal, PhD Fellow, CBS CSR
Grid Less Electricity Supply
Water Harvesting
Anirudh Agrawal, PhD Fellow, CBS CSR
Pay as you use model for Sanitation
Anirudh Agrawal, PhD Fellow, CBS CSR
Prefabricated Houses
Anirudh Agrawal, PhD Fellow, CBS CSR
Anirudh Agrawal, PhD Fellow, CBS CSR
Anirudh Agrawal, PhD Fellow, CBS CSR
Education
• Primary ??.... School dropout is highest
• Secondary??
• Tertiary
– Coursera
– Edx
Anirudh Agrawal, PhD Fellow, CBS CSR
Criticism and Caution
• Ethical Marketing
• Labeling and Framing
• Institutionalization of Innovation
• Profiteering
Anirudh Agrawal, PhD Fellow, CBS CSR
Ethical Marketing
Anirudh Agrawal, PhD Fellow, CBS CSR
Labeling and Framing : Poor Mans’ car
Anirudh Agrawal, PhD Fellow, CBS CSR
Electric Tricycle
Anirudh Agrawal, PhD Fellow, CBS CSR
Profit Maximization vs Profit Distribution
• SKS Microfinance vs Grameen Bank
Anirudh Agrawal, PhD Fellow, CBS CSR