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Frugal Innovation: Co-building a better world with fewer resources
October 11, 2017 @ 3:00 pm - 5:00 pmFree
Innovation is a key driver of growth for firms and nations worldwide. But we can no longer rely on the “more for more” innovation formula— costly R&D, resource-intensive and polluting supply chains — that has sustained growth in the West for decades. Tighter budgets, climate change, new technologies, and empowered customers and citizens are compelling businesses and governments to learn to “do better with less”.
Radjou will introduce frugal innovation, a radically new paradigm to generate greater social and economic value using fewer resources. Entrepreneurs in emerging markets such as Africa, China, and India are using frugal innovation to leapfrog the West in education, finance, energy, and healthcare—offering $2,000 car, $1,500 heart surgery, $200 home solar system, and $100 school-in-a-box. And now, Western nations are embracing frugal innovation to serve thrifty, socially-conscious and eco-responsible citizens at home. Radjou will discuss how the private, public, and nonprofit sectors could adopt frugal principles and techniques to boost agility, innovate efficiently, and co-create an inclusive, healthy, and sustainable society. At a time when the world is more divided than ever, and inequality is widespread, Radjou will show how developed and developing countries could work together to co-create frugal solutions to solve what he calls “problems without borders” (global warming, water scarcity, inequality, chronic diseases) confronting the whole of humanity.
Bio: Navi Radjou is an innovation and leadership thinker and advisor in Silicon Valley. A Fellow at Cambridge University’s Judge Business School, he serves on World Economic Forum’s Global Agenda Council on Design Innovation. He is co-author of the global bestseller Jugaad Innovation (over 100,000 copies sold worldwide) as well as From Smart To Wise (2013) and Frugal Innovation (2015). Born and raised in India, he holds dual French-American citizenship.