Frugal innovation: Some theoretical observations from innovation-economic and social-entrepreneurial perspectives

This chapter’s aims to link frugal innovation (FI) to some theoretical notions. First, it presents a brief overview of what FI is in order to identify characteristics that can be linked to theoretical notions. Second it links the concept of FI to 1) existing theoretical notions on profit-induced innovators and how these contribute to economic development and transformation, and 2) a conceptual way of thinking based on social entrepreneurs and their motives and opportunities to overcome resource constraint by designing and developing frugal innovation. Two takeaways on furthering theoretical attempts to understand frugal innovations are presented. The first one is working out of Comprehensive Schumpeterian models where dynamic patterns of polycentric innovation networks can be examined thoroughly. The second way is working further on the role of (networks of) social entrepreneurs as frugal innovators and providing them a broader validity.
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Economics of Technology and Innovation