Inlaks Launches Innovation Lab, Opens Application For Insurance Hackathon Challenge

Inlaks has launched an innovation lab called thehatch as part of its efforts to bring innovative solutions to the fintech industry and pave the way for young technology entrepreneurs. The launch of thehatch supports the vision of Inlaks to expand into a new phase termed “Inlaks 2.0”, the tech company said.

Inlaks in a statement said once the lab was established, it would provide a platform to build, scale and nurture fintech startups by ensuring a level playing field for domestic technological ideas.

According to the company, the establishment of the lab will guarantee an easy penetration into the fintech market with ample resources, training, finances and collaborative spheres to provide best-in-class fintech solutions.

Inlaks explained that the launch of thehatch innovative lab would begin with a Hackathon challenge themed, “Shaping the future of Insurance”, geared towards the development of technologically-enabled solutions that solve major problems in the insurance sector.

According to Inlaks, the hackathon is expected to gather 100 participants consisting of 20 teams of innovators to develop business and technically- innovative solutions for the Insurance industry.

Inlaks said the portal for registration would be open for applications from Monday, June 10 to July 3, for team selection.

The Managing Director, Africa Operations, Inlaks, Femi Adeoti, expatiated on the event saying that “Most tech start-ups do not have the experience to reach the customers that would buy into their solutions. It is, therefore, our goal to hand-hold these start-ups and take them to greater heights while interfacing with some of our global clients and partners, and thereby take advantage of the opportunities that are possible.

“Thehatch” is an Inlaks innovation lab that offers programmes designed to identify, nurture and scale great innovations with the potential to transform the financial service sector in Nigeria and globally. In the recognition of the fact that creative minds and startups need support and an environment that fosters creativity, thehatch with its well-structured and methodical approach identifies these great ideas, nurtures and develops them into viable digital businesses.”