Poverty is a dire social problem globally. Innovative solutions for poverty alleviation are needed at many levels. Frugal, i.e. resource-scarce innovations by businesses is one promising approach. Frugal water, energy, food or shelter innovations can improve lives of underserved communities. But in order to develop sustainable system level solutions, co-creation and inclusive approach to innovating is called for. When partners from poor communities, NGOs, academia and governments co-create innovations, they are more likely to stick and provide higher benefits for all. We study and participate in such co-creative endeavours, seeking to tackle poverty and increase wellbeing.