Appealing to the entrepreneurs to be innovative in their ventures, renowned motivator and speaker Dr Nikhil Agarwal on Tuesday said that there is need to think out of box. He said that innovations in manufacturing processes, operations and other department of business would lead to success. Going ahead, he asked the entrepreneurs to think of ‘Frugal Innovation’ to cut down cost of business operations and sustain in the highly competitive world.
He was speaking at an open session on ‘Entrepreneur’s ‘Jugaad’ for success of any business’ organised by the Entrepreneurship Forum of Vidarbha Industries Association (VIA) at VIA Hall, Nagpur. Interacting with the participants, he said that ‘frugal innovation’ refers to the process of reducing complexity and cost of a product. Dr Nikhil Agarwal said the innovations would also help the entrepreneurs face business challenges and give them an edged over their competitors. “All those who have made innovations in different fields are reaping its benefits.
We have so many persons in our country who did not follow the conventional path and chose altogether different path,” he said. Quoting example of Mansukhbhai Prajapati, a traditional clay craftsman, who has developed an entire range of earthen products, Nikhil Agarwal said he (Prajapati) has managed to provide solutions to needs of common men in a very cost effective manner. Prajapati has designed and made products include water filters, refrigerators, hot plates, cooker and other such items using clay.
According to him, Wheatflour Scooter, Mangalyaan (Mission Red), Dabbawalas, etc. are some of the best examples of frugal innovations. Spanning an experience of 20 years, Nikhil has had varied experiences across research, teaching, management and also as a columnist in a leading newspaper. Dr Agarwal is alumni of Cambridge University and University of Edinburgh in United Kingdom.
Nikhil Agarwal was CEO of Andhra Pradesh Innovation Society, Govt of Andhra Pradesh. The aim of the society was to develop at least one entrepreneur in every family and so as to make the State one of the most ‘innovative society’ in the country. His role entailed reaching out to that vision. Innovation Society is chaired by Andhra Pradesh Chief Minister N Chandra Babu Naidu.
Earlier Shri Akash Agrawal, Chairman – VIA Entrepreneurship Forum made opening remarks. Anita Rao, Convener, VIA Entrepreneurship Forum introduced the speaker. Shri Atul Pande, President – VIA welcomed the guest speaker with floral bouquet and gave welcome address. Representatives from Shri Mukesh Asher and Shri Saket Chaurasia. Shri Mukesh Asher proposed a formal vote of thanks.