Today’s Modern-day era is renamed as the Innovation Era. Even before the pandemic, the world was amidst the Innovation Era and there was an upward sloping curve in the field of Innovation but post-pandemic, it is now increasingly being characterised by the pace of digital development and acceptance during the previous two years.
Numerous advancements in recent years have strengthened, made society safer, and increased accessibility. India is a world leader in innovation. Indian entrepreneurs are focusing and emphasising on creating more innovative products and services that cater to the needs of not just the people but also sustainability, as we have seen over the years. India has emerged as one of the global leaders alongside China, Japan, and the USA in the field of Innovation.
India, as a result, has seen significant development in recent years. New opportunities have been created by the emerging economy. However, by embracing technology faster with a lot of effectiveness and efficiency than other nations, it has surpassed many checkpoints. It has tried to emerge as one of the leaders in the world. With today’s cutting-edge technology, India has become a centre for innovation, but it still needs to continue making Innovative and contemporary Inventions.
Today, the youth of the nation is the powerhouse of start-ups in India and there has been a perceptual shift from being job-oriented to becoming Entrepreneurs, which is very crucial and critical as each individual will lead a better life not just individually but collectively in an environment where Innovation is pervasive and ubiquitous .
India in the upcoming years is committed to its mission to improve and change the state of the world and shape the lives of the people for the better. The Youth and the Entrepreneurs are the chariot’s wheel that is hell-bent to further this vision’s realisation and our society’s growth and prosperity.
This article explores the new age of innovation along with the pain points which eventually lead us to these innovations.
Continue reading below.
What are Frugal Innovations?
FRUGAL INNOVATION: EACH OBSTACLE IS AN OPPORTUNITY
An often-fascinating term to be associated with innovation is undoubtedly “frugal.”
Frugal innovation is an opportunity for a new type of entrepreneurial environment in which small businesses with little resources create inventions for underserved consumers in developing nations. Frugal Innovation aims to promote sustainability and access to new markets.
Frugal innovation is all about creating an advantage out of struggle. When faced with limited resources and institutional gaps, frugal innovators create radical new problem-solving solutions. It is not only about making things cheaper but also better and more scalable. It entails repurposing existing resources, eliminating or reusing waste, and even rethinking a complete system centred on a product or service.
Frugal innovation is not a fresh concept in India, the land of jugaad. Jugaad is a low-cost, impromptu, improvised solution to a problem or a necessity and a form of Frugal Innovation, and Indians are experts at it. Due to a lack of resources, Indian People have been pushed to innovate in strange and beautiful ways. They have learned to do with little money and a lot of talent, from the weird mechanised contraptions on the roadways to the deft adaptations of farm tools and electrical gadgets. Not only at the bottom. On a higher level, Indian surgeons and hospital executives have mastered the art and technique of doing high-tech eye and heart procedures for a fraction of the cost than the rest of the developed world.
Most people often associate innovation with the development of new technology, medical advances, and so forth. While technology advancements are remarkable and frequently vital, there are other sorts of inventions that are equally, if not more, significant.
These Frugal or as Indians coined the term Jugaadu inventions might be used to improve current technologies or systems, making them more affordable or accessible to everyone. Because they are easier and faster to execute than technological advances, they have the potential to have a greater influence on society.
For many years, Japan and China have pioneered Frugal Innovation. But, It would be accurate to say that India has triumphed at crisis-driven innovation in the past decade and continues to do so and that the frugal approach to innovation and development has changed the trajectory of the growth narrative. Global development shall thrive on the Concept of Frugal Innovations
In other words, Frugal Innovation is a movement toward minimising waste and maximising your money. It’s about living within your means yet being creative, and finding ways to save effort , time and money while living your best life. This can be achieved by taking advantage of the little things in life through critical and logical thinking in a sustainable creative way .
The Pain Points of Our Daily Lives
Innovation in the world of consumer goods can get pretty crazy. From robot vacuum cleaners to Bluetooth toothbrushes, there’s no end to what the innovators are willing to create logical products to solve our problems. Many of these products claim to change our lives and there are certain inventions that you wish should exist even earlier.
Our daily lives are filled with different pain points that we have to deal with. Now, imagine a world where you sleep on a bed that is able to adjust your body temperature through the night. This would make you feel truly comfortable to have the best sleep ever. What if someone could just invent cooling pillows and bedsheets? Wasn’t it amazing?
Whether it’s from spilled coffee or spilled soda, clothes have a way of getting dirty. From the stains that we can’t seem to scrub off, to the wrinkled clothes that make us feel uncomfortable about ourselves. Add more description about problems related to press potli.
Odd Innovations have come into existence to solve such issues. eg:- Odd Innovations Product “Press Potli” helps to keep the ironed clothes intact during the delivery process. Not only this, it has features like dust resistant, water resistant, and anti-fungal properties which makes it a unique and better product for the future.
Conclusion / Our Vision
To conclude, India is renowned for its booming entrepreneurship, but it has a long way to go in the innovation space.
At Odd Innovations, our aim is to design and develop those advanced innovations and ideas that not only solve the pain points but also teach us to live in a more sustainable way. We have some of the most talented and intelligent people who have shown tremendous potential to innovate and create advanced products, which are easy to adapt and make our lives easier, happier and more productive.