Authors of the books Jugaad and Frugal Innovation, Navi Radjou and Jaideep Prabhu took to the stage on the final day of Goafest 2019.
Their book Jugaad Innovation, which was published in 2012, studied the unique way of innovating and featured several entrepreneurs and global MNCs. Across all these innovations the authors looked at the 'Jugaad' factor.
And Radjou believes that brands and marketers can also take a tip from the jhugaads. "Marketing campaigns can also work on this jugaad mindset. They're not only frugal ways of marketing but relevant too. Now, we are also seeing the West ape these jugaads."
Prabhu explained why the West is looking for these ways of saving. "Post the financial crisis, the West was also looking to do more with less. We are seeing small teams of four people do things like a government or big organisations would do earlier. The US$ 30 Raspberry Pi computer was an example. Only a few thousands were produced, but the orders surpassed a million. They were then used for big impact things in the healthcare industry."
He went on to show how global companies like Ikea, Levi's and Unilever are innovating by recycling their products and also coming up with other means to reduce wastage.
He said, "Levi's jeans came up with innovations where they recycled waste to come up with 'garbage jeans'. They also looked at conserving water with their CEO Charles V. Bergh, urging people to reduce the number of times they wash their jeans. Unilever too set a target of growing double by halving waste by 50 per cent. The financial consequence is that the company's shares have doubled."
He also showed an Ikea campaign which looked to reduce fuel consumption.
Radjou then spoke about the 17 Sustainable Development Goals set by the United Nations. He stated that India has a role in atleast 50 per cent of these and so India will benefit first, before the world.
The duo ended their session by listing six principles of frugal innovation:
1: Engage and iterate
2: Flex your assets
3: Create sustainable solutions
4: Shape customer behaviour
5: Co-create with 'prosumers'
6: Make innovative trends