Earlier this evening I attended a Cambridge Network event where Jaideep Prabhu—co-author of the book “Jugaad Innovation” and professor at the Judge Business School—gave a talk about innovation practices in developing economies.
Compared to their counterparts in the affluent West, Indian innovators seem to be more:
- Frugal. They need to do more with less resources
- Flexible. High uncertainty means they need to change their plans more often
- Inclusive. Targeted at reaching consumers and partners outside the established economy