Students research and study “Open Innovation Business Models” that focus on Frugal Innovations (Jugaad Innovations). These are products and services that are offered at low cost /high quality creating “Value for Many” vs. “Value for Money”, models that are more relevant to majority of the world’s consumers of today and tomorrow. The Jugaad models being innovated in India have the potential to disrupt the high margin models in the developed world. In addition, they promote greener and more sustainable approaches to preserve our planet.
Many innovations in health care, telemedicine, medical equipment, refrigeration, cookery and prosthetics etc. fall into this category. Students will be exposed to models that ordinate in the 3rd world but have a global appeal and impact in the developed world.