The Who, Why, How, What of Frugal Innovation
This super-inspiring INKTalks by prashant gade vividly illustrates the Why, How, What, Who of Frugal Innovation — the art of “doing more — and better — with less”
WHY (Purpose):
Prashant Gade met a girl without limbs who needed a prosthetic arm.
When he found the prosthesis’ price was $72,000, Prashant found his purpose: to develop an ultra-affordable prosthetic arm for those who can’t afford it.
Every 10 minutes, a person loses his/her limb.
80% of them end up living without a prosthesis due to its high cost.
Prashant set out to change that.
HOW (Process):
As he explains in this INKTalks video Prashant looked at the resources readily available around him and leveraged them to develop quickly the first version of his prosthesis.
But he used the “Customer’s Voice” to fine-tune his invention.
Specifically, he recognized that his future customers can’t afford to pay more than $100 for a prosthesis.
He applied “Design-to-Cost” techniques to bring down the price of his product
He sold his first product for $75, or 1/1000th of the cost of high-end prosthesis
WHAT (Product):
Prashant believes frugal products should be low-cost but HIGH-quality.
So he leverages advanced technology to boost the performance of his products while still keeping them affordable.
WHO (Person):
The frugal innovator is not just a big brain on two feet.
(S)he also has a BIG heart and is driven by empathy.
Like most jugaad innovators, Prashant “followed his heart” and heeded his soul’s calling: to use his talent to alleviate the suffering of others.
In past 5 years, Prashant’s Inali Foundation has impacted over 10,000 lives
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I belong to 3 cultures : Indian, French, American
When I discuss with American entrepreneurs and business execs, they care mostly about the HOW (Process) and WHAT (Product) of frugal innovation
The French people — very philosophical — care about the WHY (Purpose) of frugal innovation
But the spiritual-leaning Indians don’t focus on the frugal innovation as much as the frugal innovaTOR : they want to know WHO is the human being (Person) who innovates and Who is the Person who benefits from this innovation.
A smart innovator is focused on the HOW and WHAT of his (frugal) solutions
A wise innovator cares about the WHY and introspects on his intention
A conscious innovator reflects on WHO (s)he is and his/her (frugal) contribution to humanity — and how that contribution will transform him/her deeply.
