Now reading: Innovation Lab (Innolab)

Innovation Lab (Innolab)

Cenfri's InnoLab works with the private sector to drive inclusive innovation by finding new ways of doing business and designing more welfare-enhancing products.

We share our findings in behavioural science, alternative data, high impact business models and ecosystem creation and support through collaborative projects, convenings, practical training and programmes.

Innovation of various kinds is critical to achieve greater economic and digital inclusion for individuals – and it doesn’t happen in a vacuum. A variety of stakeholders, an enabling environment and other factors are needed for innovation ecosystems to flourish. These ecosystems consist of, among others, innovation hubs, higher education institutions, investors, competitions, providers of alternative training, mentors, start-ups, innovative corporates, and many more.

Our inclusive innovation and ecosystem engagements have spanned various research areas, including insurance, health financing, remittances and new technologies in distribution. Our InnoLab projects have linked African financial service providers with counterparts in Latin America to share lessons and experiences. From the streets of Maputo to the villages of the Eastern Cape, we draw on our engagements with end-users of financial services to better understand their needs and the ways in which they want to interact with financial service providers. We have evaluated and helped design insurance and banking products, with a keen focus on building better services that provide high value to clients.

Our work aims to understand and map the various forces that influence these stakeholders and innovation more broadly. We aim to identify leverage points for positive impact and assist ecosystem stakeholders in making use of these opportunities. We do this through collaborative research processes, interactive databases, and strategic convenings.

About the Inclusive Fintech Forum

One of our specific activities is the Inclusive Fintech Forum, which convenes and supports the fintech ecosystem. The forum is based in Cape Town, and thus targets the fintech market here, but we share insights from across sub-Saharan Africa and beyond. Each quarter, Cenfri will host fintechs to discuss key questions related to providing inclusive financial services. Through a combination of presentations (by Cenfri and external experts) and interactive activities, we will introduce attendees to insights that will be beneficial to growing their customer base and improving their service offerings. Some examples of insights that will be shared are:

  • Frameworks: Evaluating markets, distribution channels, customer segments etc.
  • Market overviews: Be introduced to new ones and/or place yourself within context
  • Guidance: Engaging with various stakeholders, from potential partners to regulators
  • Inspiration: Speakers’ success stories and other examples

Insights from each session will be shared and suggestions and requests for discussion topics are welcome! For more information, suggestions, or for enquiries about partnering, please reach out to Eden D’Oliveira.