New Delhi, Jan 30 (KNN)  Frugal innovation is considered by many to be one of the key solutions that enables enterprises to access low-income markets. However, frugal innovation is generally perceived by the public to be product-driven in nature - evident by the fact that the most widely recognised frugal innovations in mainstream media are products like the Tata Nano car and the ChotuKool refrigerator.
 
In its latest position paper, Ennovent aims to dispel this myth and highlights instead that frugal innovations succeed when entrepreneurs are compelled to look beyond their value propositions (the products and services) and innovate in other functional areas of a business where competitors may not.
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