Article
Exploring the Role of Indian Knowledge System on Frugal Innovation among Indian Startups
Purpose: It is rightly said that perception and innovation go hand-in-hand. How stakeholders such as customers, investors, and even the founder view the company, its product, and services, and their relation to the company forms perception which is critical to innovation in startups. The Indian knowledge system is pertinent in India and somewhere it plays a critical role in integrating traditional knowledge with innovation.
Research Gap: As "frugal innovation" and "Indian Knowledge System" are being mentioned, there is a lack of well-defined conceptual framework specifically connecting them, especially regarding the role of indigenous knowledge fields.
Methodology: The study will adopt a quantitative methodology by gathering primary data from over 400 plus Indian startup founders across a range of industries. Variables measuring the Indian knowledge system like traditional knowledge, Indian values, simplicity etc. and those measuring frugal innovations like cost effectiveness, accessibility, social impact etc. would be used to evaluate the connections and correlations, while observing other statistics. Annova will also be used to study the customer trust among various regions. Exploratory factor analysis and Regression analysis would be used to study the relation of Indian knowledge variables on brand reputation and market penetration.