Frugal Innovation as a Catalyst for Entrepreneurial Growth in Emerging Markets

Abstract

This conceptual paper aims at exploring the strategic nature of frugal innovation, as it helps an entrepreneur to grow and scale up within resource constrained emerging markets. The lack of infrastructure, income inequality and limits were also huge factors in these environments, and an alternative to Western business models, which requires capital investment, is needed. It demonstrates resource constraint as a creative boundary for having to be ingenious and the lenses of radical affordability, radical agility of process and radical innovation in business model. The proposed framework marks a step towards a solution that will link the dots between grassroots survival and regional and global market leadership, providing a road map to innovation for scholars, decision-makers and investors to benefit from resource-efficient solutions and tackle inclusive and sustainable economic growth.