CFI is happy to announce organisation of a seminar on frugal innovation as an enabler for the achievement of sustainable development goals (SDGs) in Mumbai on 25th Sept. 2019. The seminar marks continuation of the fruitful cooperation that CFI has forged with the German Centre for Research and Innovation (DWIH) New Delhi, and this is the third year running for our joint events. Dr. Stephan Buse and Dr. Rajnish Tiwari from CFI will deliver talks outlining the scope of frugal innovation and their potential contribution for societal and economic development for all relevant stakeholders, while Prof. Dr. Cornelius Herstatt will moderate a panel discussion.
The event is organised by DWIH, New Delhi together with the Indo-German Chamber of Commerce and will take place on Wednesday, September 25, from 9:00 AM to 1:00 PM in Mumbai. Details of the events are as follows.
The United Nations (UN) has set ambitious Sustainable Development Goals (SDGs) to rid the world of poverty and hunger, and raise standards of living in a manner that is affordable from both economic and ecological perspectives. Achieving the SDGs is not only crucial from a humanitarian point of view but also for ensuring peace and law & order in a world that is faced with increasing population and growing demand for food, water, housing, healthcare, energy and other consumption. A concerted global effort is necessary to meet the SDG challenge, but it also opens up an array of unprecedented opportunity for businesses, especially in a dynamic economy like India.
Firms, research institutions and civil society organizations need to join hands to create Open Global Innovation Networks (OGINs) to develop out-of-the-box solutions that ensure affordable green excellence while meeting the aspirations of consumers. The spectrum of such frugal solutions may span from radically new concepts and architecture for innovative products, services and processes to disruptive technologies and digital-based business models.
Frugal innovations are increasingly becoming crucial for success in both emerging and developed economies. India is a highly attractive market for innovative and high-quality frugal solutions. Research shows that India is also a lead market for frugal innovations that are able to diffuse in other markets with socio-economic similarities. Many products succeed even in industrialized countries, where a growing demand for affordable, excellent and resource-efficient solutions can be observed (“reverse innovation”).
This seminar will showcase why we are living in a frugal age that demands “affordable green excellence”. Experts from India and Germany will present their research and best-practice examples from German and Indian companies about implementing a successful frugal innovation strategy. The examples will also demonstrate how firms can use the potential of Indo-German collaboration in meeting the SDG challenge and benefit from the SDG opportunity.
Who should attend: Decision-makers from German and Indian companies with existing or with interest in creating product design & development activities in India, Start-Ups, Researchers and Academicians from Technology and Management and others interested in the topic of Frugal Innovations
Venue: Hotel Meluha- The Fern, Banquet Paragon II, Hiranandani Gardens, Powai, Mumbai
Photo credits: upper image: R. Tiwari: lower image (group photo): DWIH