Frugal innovations offer high customer value (core functionality, durability, ease of use) as well as significantly reduced costs of ownership compared with standard products and services. The phenomenon of frugal innovations was initially observed in emerging economies and the scholarly discourse still largely focuses on this context. Now there is increasing evidence that frugal solutions are also diffusing in the economically developed nations. It is, however unclear, to what extent frugal innovations are relevant for industrial economies such as Germany in economic and socio-political contexts.
On 15th April at the Hannover Messe the Federal State of Niedersachsen (Lower Saxony) is organizing a symposium on frugal innovations (language medium: German), with a subtitle which says “simple, simpler, the best”. The event which takes place at Nord/LB Forum between 14:00 and 18:00 hours would see several prominent speakers including Mr. Olaf Lies, Minister of Economy, Labour and Transport in Niedersachsen. Dr. Stephan Buse from CFI is also scheduled to deliver a talk with the title “Frugal Innovation – ein Konzept zur Erschließung kostensensitiver Märkte” (English: Frugal Innovation – A Concept to Capture Cost-sensitive Markets”.
A new paper that seeks to generate some preliminary insights on the use of inventive analogies in the process of creating frugal innovations. The paper has been authored by Rajnish Tiwari, Katharina Kalogerakis and Cornelius Herstatt and was presented at the recently-held R&D Management Conference (June 3-6, 2014) in Stuttgart.