Suneet Singh Tuli sells the world’s cheapest Phablet (Phone + Tablet = Phablet) at around $60 a piece to India’s 1.2 billion people. His Aakash Phablet is proving that frugal innovation thrives in markets where a “good enough” product is all that matters.

According to Tuli, the cost of a quality tablet could hover around the $30 to $40 range in coming years. These are not the branded iPad types but quality products for a market that believes in a “good enough” product targeted at developing countries.

Addressing social entrepreneurship students at Arizona State University, he encouraged students to look at opportunities that are attractive  for the “good enough” market, as some day they could turn into billion dollar opportunities.

Tuli thrives in the “good enough” market  and Aakash  is set to reach the million mark in sales in India. India has 360 million school going (K-12) children of whom around 140 million do not have any access to education. Tuli believes low cost tablets will help bridge the digital divide and enable children from diverse backgrounds to access and utilize knowledge.

Meanwhile, Aakash is being used as a pilot project in schools in the United States. And, according to Tuli, 13 other African countries have expressed interest in his product.