Frugal Innovation: A Review of Theoretical Foundations, Success Factory, Barriers and Dynamics

Dilip Vishnu Adhav, Dr. Deepak T Khairnar

Abstract: Frugal innovation has become a revolutionary method of creating affordable, high - quality solutions by maximizing limited resources. While conventional innovation tends to concentrate on high - end technology breakthroughs, frugal innovation focuses on affordability, accessibility, and sustainability, rendering it extremely pertinent in resource - scarce settings. This research offers an in - depth overview of the theoretical underpinnings, critical success factors, impediments, and dynamics of frugal innovation. Using a mixed - methods design, it explores the relationship between critical success factors and scalable and effective implementation of frugal innovations and identifies a moderate positive relationship (0.420) between the two variables. It identifies major impediments like cost factors, regulatory barriers, and resistance from the market and recommends strategic interventions like public - private partnerships, support programs in terms of funding, and technology - sharing networks. The research emphasizes policy reforms, government incentives, and digitalization to improve the scalability of frugal innovation. The research adds to the general discussion on sustainable and inclusive innovation, with a focus on leadership, resource efficiency, and adaptive technology as drivers of long - term impact. Building upon the foundational understanding of frugal innovation and its relevance, the subsequent section examines significant prior research that has shaped the academic discourse in this field.

Keywords: Frugal Innovation, Critical Success Factors, Scalability, Cost - Effective Solutions, Public - Private Partnerships