Cristian Granados and Felipe Symmes present their new book during the second edition of EGADE Action Week.

By JOSÉ ÁNGEL DE LA PAZ | EGADE BUSINESS SCHOOL

Frugal innovation can be key to addressing challenges such as poverty and climate change in Latin America, as explained by Cristian Granados and Felipe Symmes, research professors at EGADE Business School - Tecnológico de Monterrey, during the presentation of their book, Haz más con menos: Los 6 principios de innovación frugal (Do More With Less: the 6 Principles of Frugal Innovation).

The event took place on May 13 at the Hotel W in Polanco, Mexico City, where the coauthors described how the approach addressed in their book makes it possible to develop sustainable, high-quality, and affordable solutions.

“The approach consists of doing more with less, simplifying and acting with flexibility,” they specified during the presentation that formed part of the second edition of EGADE Action Week.

Granados, coauthor and academic, explained that the term ‘mexicanadas’ (a typical Mexican way of doing things) reflects a creative adaptation to specific problems, resulting in genuinely innovative solutions that have demonstrated their effectiveness in limited-resource contexts.

“This is an example of frugal innovation that we can observe in collaboration, creativity, and circular economy practices throughout the region,” he added.

The book, published by Ediciones Paidós, presents practical examples and ideas that follow six key principles for innovation in Latin America, including the creation of sustainable solutions and the co-creation of consumer value.

“Frugal innovation not only addresses the needs at the base of the pyramid, but it also comprises a disruptive strategy that can gradually replace market leaders with simple, affordable solutions,” Granados stated.

Symmes, coauthor and leader of the VIVA Idea Schmidheiny Chair in Sustainable Futures at EGADE Business School, commented on the institution's role in inspiring companies to create solutions better adapted to Latin America's local realities rather than importing models that have not solved crucial problems such as poverty and climate change.

Prominent guests who attended the event included Ewelina Rodriguez Leal, Director of Innovation at Grupo Salinas, and Andre Luiz Soresini, General Director of Vaccines for Mexico at Sanofi, who enriched the discussion with their perspectives and experiences in the field of corporate innovation.