Event Name: Report on “Frugal Innovation and Its Role in Emerging Economies”	Event Date: February 7th, 2025
Faculty Coordinators: Mr. Sachin Sinha	Event Timings: 11:15 AM
Number of Participants: 90	Venue: Lloyd Business School, Greater Noida

Objectives:

The key objective of this guest lecture was to introduce students to the concept of frugal innovation and its immense potential in driving growth across emerging economies. Organized by Lloyd Business School, the session aimed to provide practical knowledge on how resourceefficient innovation can lead to sustainable business solutions, particularly in markets with limited resources. Another major objective was to help students gain insights from a distinguished industry expert, enabling them to connect academic theories with contemporary industry practices, entrepreneurial thinking, and global economic trends.

Detailed Report:

Lloyd Business School hosted an enlightening guest lecture on February 7, 2025, featuring Mr. Kalyanjit Hatibaruah, MD & CEO of Flugelsoft Group. Renowned as an angel investor, author, podcaster, and blockchain thought leader, Mr. Hatibaruah brought a wealth of experience and multidimensional expertise to the session. His lecture focused on the theme “Frugal Innovation and Its Role in Emerging Economies.”

Mr. Hatibaruah began by explaining the importance of frugal innovation- creating high-value solutions with minimal resources, especially in developing and emerging markets. He highlighted how limited resources, infrastructural challenges, and affordability constraints often spark creativity, leading to cost-effective yet impactful innovations. Through real-world examples from India and other emerging nations, he illustrated how frugal innovation has transformed industries such as healthcare, technology, finance, agriculture, and digital services.

He also discussed the mindset behind frugal innovation, emphasizing agility, simplicity, adaptability, and the ability to leverage available resources intelligently. Students were introduced to case studies of startups and enterprises that have successfully adopted frugal strategies to solve complex social and economic problems.

Mr. Hatibaruah further addressed the role of emerging technologies—such as blockchain, artificial intelligence, and digital platforms—in accelerating innovative solutions while keeping costs low. His insights bridged the gap between entrepreneurship and technological advancement, inspiring students to think creatively and design solutions that are both scalable and sustainable. The session concluded with an interactive Q&A segment, where students engaged with the speaker on topics related to innovation, digital transformation, and the future of emerging markets.

Learning Outcomes:

Students gained a solid understanding of the principles of frugal innovation and its relevance in resource-constrained environments. They learned how simple, cost-effective solutions can create large-scale impact and drive economic development. The lecture strengthened their awareness of sustainable innovation, inclusive growth, and the role of technology in shaping emerging economies. Additionally, students were exposed to entrepreneurial thinking, problem-solving approaches, and real-life examples of innovation under constraints. The session enhanced their ability to think critically about global challenges and develop practical, value-driven solutions.

Prepared by:

Mr. Kalyanjit Hatibaruah