Jaideep Prabhu

Frugal Innovation

1. IDEA 1

   Frugal means better with less

   Radjou and Prabhu define frugal innovation as creating more value for customers and society while using fewer resources. They argue that limited money, energy and materials now make this approach essential everywhere.

2. IDEA 2

   Old innovation models are too costly

   The authors argue that big research budgets and long, secret development cycles are slow and expensive. Companies are being challenged by smaller firms that create useful products faster and more cheaply.

3. IDEA 3

   Engage customers and iterate

   The first principle is to involve customers early and improve products through quick experiments. Instead of perfecting a product in private, companies test simple versions and learn from real users.

All 8 ideas from Frugal Innovation →