Chapter 1

Introduction

Introduction

Innovation has caught the world’s imagination. It dominates TV shows, inspires movies, haunts companies (particularly those who are perceived as dull and unimaginative), mesmerizes students, and is the holy grail of entrepreneurs. But, in recent years, a particular kind of innovation has been more impactful, particularly in the context of developing countries like India. It has been variously called low-cost innovation, affordable innovation or frugal innovation.