Inlaks Unveils New Innovation Hub For Fintech Startups

Inlaks has unveiled ”thehatch”, an innovation hub set to build, scale and provide a nurturing environment for Fintech Start-ups.

Olufemi Muraino, the Executive Director (Innovation and Business Transformation), Inlaks, made this known in a statement on Monday in Lagos,

The innovation lab revealed during the maiden Insurtech Hackathon, aimed at using Information Technology solutions to boost the operations of the insurance industry.

Muraino said that as one of the foremost ICT companies in Sub-Saharan Africa, Inlaks continually upheld and spearheaded projects/ideas that would birth cutting-edge ICT products and solutions.

He said that the launch of ‘thehatch’ reinforced Inlaks 2.0’s vision to identify, promote, support and encourage home-based technology entrepreneurs.

‘’With thehatch launch and the maiden Insurtech Hackathon, we have been able to bring together a host of brilliant African tech minds who have innovatively invented solutions tailored to the insurance industry.

‘’I am elated at the launch of our Tech Hub as we are focused on opening up new markets while also introducing innovative information technology products into the Sub-Saharan African markets,’’ Muraino said.

The Managing Director, Africa Operations, Femi Adeoti, said that Inlaks had been thriving favorably in the ICT space for over three decades now.

Adeoti said that Inlaks was aware of the immense contributions of technology to mankind, as technology had been and would continue to be a necessity in the world.

He said that continuous change and growth in technology solutions to adapt to man’s need was also a proof of the growing demands for technological inventions.

According to him, with the hatch, Inlaks is ready to be an anchor for worthy home-based (African) solutions to give them global relevance.

”We call on young techpreneurs to take a giant step towards making a huge impact on the global tech evolution trend.

‘’Our vision for thehatch is to be Africa’s most sought after centre for innovative technology, human capital and start-ups, ready to transform the economic future of Africa,’’ he said.

Speaking on the Insurtech Hackathon with the theme: ‘’Shaping the future of Insurance’’, Adeoti said that over 85 participants applied for the hackathon, while 20 were selected.

He said that the contest witnessed the creation of technologically-enabled solutions that addressed significant challenges in the insurance sector.

The three leading teams with top-notch Insurtech solutions carted away the cash prize of N4.5 million.

Winners who emerged at the Hackathon include Team Tophill, Overall Winner with N2 million; Team Autosmart, First Runner Up with N1.5 million; and Team Sirocco, Second Runner Up with a cash prize of N1 million.

Joseph Oni from Team Leader, Team Tophill, winner of the hackathon, said that the knowledge, connections, and exposure the event had afforded him, was priceless.

‘’Asides wining the grand prize funds, I am highly privileged to have been a part of the making of technological solutions that would influence the Insurance industry in Sub-Saharan Africa.

‘’The insurance industry remains untapped. However, the solutions my colleagues and I have presented today will spur it on digitally.

‘’On behalf of my team members and the rest of the participants, I say a big thank you to Inlaks, the future is ours to conquer,’’ Oni said.