Financing opportunities for frugal innovation
Would you like to learn more about the pilot funding scheme “Innovation for a Better World – Advanced Solutions for Sustainable Development” directly from representatives of ADA (Austrian Research Promotion Agency) and FFG (Austrian Research Promotion Agency)?
Join one of the three dedicated virtual networking events, share your project idea and network with potential partners.
Frugal innovations rely on a “do more with less” approach to provide high-quality, resource-light and affordable products and services in response to the specific needs of a target group. When designed effectively, frugal innovations can contribute to the Sustainable Development Goals (SDGs) by addressing issues that are often underserved by markets and institutions, through resource-efficient solutions that are affordable and easily available to a large number of people.
To tackle this challenge, the Austrian Development Agency (ADA), the operational unit of Austrian Development Cooperation and the Austrian Research Promotion Agency (FFG) have teamed up to explore how to best support projects that aim to address a problem through frugal innovation.
Their joint project “Innovation for a Better World – Advanced Solutions for Sustainable Development” looks into the feasibility and implementation possibilities of a new funding scheme for frugal innovation in the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia).
It consists of a year-long series of workshops investigating and prototyping collaborations between organizations from Austria and the Western Balkans that contribute to the Sustainable Development Goals through projects inspired by the principles of frugal innovation.
