The Nordic Frugal Innovation Society is a non profit association registered in Finland.
We believe that slow growth or no growth in developed economies along with environmental constraints, rapidly ageing societies and various structural problems will increase demands for more frugal models of production and consumption and will require radical new models in areas such as health care, social care and other aspects that affect directly or indirectly everyday life. This will increase demands for frugal innovation techniques along with the products and services associated with them.
Also, the developing countries markets continue to grow and are projected to dominate the global economy in the coming decades. Due to this, there is a need to break out of traditional business thinking and challenge the assumptions about how companies research, design, develop, and manufacture products. There needs to be a more entrepreneurial approach from the executive management level in companies. This needs to be done in a manner of win-win-win for the company, the customer and the environment. Frugal innovations should not be just about cost savings. The eventual service or product that comes from the application of it should be more affordable, functional and reliable.
We at The Nordic Frugal Innovation Society want businesses to respond to limitations in resources; whether financial, material or institutional, and turn these constraints into innovative ideas and practical solutions.