There is a lot of optimism and speculation about how mobile money can improve the lives of the poor. For BRAC, the success of an intervention is judged not only by its impact, but whether it can be scaled nationally. In order to do that, initiatives have to be frugal—which is why frugal innovation is at the heart of BRAC’s culture. If we didn’t keep our costs low, we wouldn’t be able to impact 120 million people. With the importance of this in mind, the social innovation lab has made hosting Frugal Innovation Forums
an annual event.