Less cost, fewer resources, more impact. Consumers want frugal solutions. Does business?
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Every year, millions of babies are born premature around the world.
Thousands perish because they lack access to something as basic as an incubator.
With the average incubator costing $20,000, this life-saving device is beyond the reach of remote areas in developing countries.
That’s the kind of problem TED speaker and author Navi Radjou wants to solve.
His outlook comes from living in difficult conditions. Frugality wasn’t a choice. It was a part of everyday life where he grew up in India.
In his book, Frugal Innovation: How to do More With Less (2015, The Economist), Navi describes the need for society to create nimbler, more cost-effective solutions to problems like incubators.
Earlier this fall, Navi spoke at the UPS Speaker Series event in Atlanta, Georgia about the obstacles and opportunities surrounding implementation of the frugal-innovation approach.
In an interview with Longitudes, Navi described a changing global landscape where consumers are pursuing a simpler, higher quality of life.
It makes us wonder: Are businesses adapting to this new wave of consumer thinking?
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