Abstract
Frugal enterprises are recognized as change agents who serve less fortunate customers in emerging markets. The extant literature lacks knowledge about the early stage struggle of these enterprises. This study extends the existing entrepreneurship research by empirically examining the frugal entrepreneurship phenomenon. Using inductive, theory building approach across multiple cases, we investigate how frugal enterprises by using bricolage approach develop frugal innovations, successfully commercialize them, and make an impact in a society with resources constraints and institutional constraints. Findings show that frugal entrepreneurs face unusual challenges. Financial and institutional supports at the early stage of the ventures provide a significant value for them. Despite numerous constraints, frugal enterprises successfully serve underserved customers and contribute to sustainability.
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