I. Introduction
Emerging markets, which represent the next big growth opportunity for enterprises are redefining trajectories of technological innovation. However, a daunting challenge that enterprises face today is how to design and diffuse innovations to effectively tap into local demand in these markets. Extant literature, both theoretical and empirical, has neglected the need for and production of appropriate technologies in emerging countries—assumption being that major innovation models of multinational enterprises (MNEs) from developed countries can be costlessly selected and applied in the former [4] [26] [29]. Little attention is directed to carefully examining alternative models of innovation offered by local entrepreneurs from emerging markets. The intricate processes involved in shaping and managing technology development and diffusion also remain largely unexplored.