Founder & Director of World Entrepreneurs | Sustainable Development Consultant | International Cooperation Focal Point of the Latin American Network of Frugal Innovation | Reiki Practitioner & Master Trainer
Season 3 - Episode 4 of this podcast focuses on the relevance of measuring impact in (frugal) innovation projects👇🏽 In Episode 3 we also talked about the synergetic role of ICTs and data-driven technologies in (frugal) innovations, and how they may contribute to set a culture of impact iteration - measuring and managing impact - and knowledge to support informed decision-making and transformative changes that address key inequality gaps in our economies. Innovating to improve people’s lives everywhere👇🏽 #Innovation #Entrepreneurship #SustainableDevelopmentManagement #ChangeMindset #Cooperation #SDGimpact #worldentrepreneurs Leave no one behind or disconnected !
#OndaFrugal - Season 3-Episode 4: #Frugalinnovation and #Socialimpact This episode focuses on the potential social impact of frugal innovation projects and on the relevance of integrating social impact measurement and management practices in the design and implementation of these projects. It does it featuring the example of MittiCool, an Indian venture that produces terracotta clay refrigerators, a frugal innovation that runs without electricity, helping reduce its costs to a third. MittiCool expects to have a positive impact by: 👉🏽Recovering the Indian ceramic industry tradition and creating new jobs, notably for women 👉🏽Reaching out to a large part of the population that cannot access electricity and/or electric devices 👉🏽Preserving people’s health by providing affordable solutions to keep food in good conditions 👉🏽Reducing electronic waste and the use of substances with negative effect on the environment. ✅ In this episode, social impact is defined as the long-term changes experienced by a group of people or communities as result of a concrete innovation project, policy or program. This impact may be: - Direct or indirect - Positive or negative - Tangible or not ✅ This episode also highlights why we need to measure the impact of frugal innovation projects and how we can do it. Although impact starts with intention, we cannot take for granted that all innovation projects will meet their expected results and deliver a positive impact for the people. In fact, most of the sustainability evaluations of frugal innovation projects focus on results, taking often for granted their impact, by assuming the positive effects on the target groups, and neglecting possible negative impacts on people. “For instance, if a frugal solution makes available clean water to a given population, we may measure results in terms of the population number using this solution, while we may measure impact in terms of public health cost reductions associated with a lower percentage of cases of water-borne diseases happening within the same population using this solution in the next 5 years. There are many methodologies to measure and manage impact in line with the needs of different projects and organizations. The IMP and ROI methods are highlighted together with the use of standards frameworks such as the SDG impact standards. Most of these methods apply common criteria to measure impact, including (but not limited to): 👉🏽Interest groups analysis 👉🏽Before-after approach 👉🏽Quality and quantity Indicator frameworks, etc. Concluding, we need to improve the management system of frugal innovation projects, by embracing impact measurement practices and evidence at the short, mid and long run, making use of comparative analysis and thresholds to avoid or reduce intuitive impact attributions and their associated risks. More 👉🏽 https://lnkd.in/e3euFAdA Article by #worldentrepreneurs worldentrepreneurs.org
