Innovation Race 2013
| Reference number | |
| Coordinator | NÄTVERK F. ENTREPRENÖRER FR. ETNISKA MINORITETER |
| Funding from Vinnova | SEK 1 500 000 |
| Project duration | May 2013 - July 2013 |
| Status | Completed |
Important results from the project
To carry out a 48-hour race for innovation to develop new innovative microfinance products and services that are tailored to the specific needs of four selected target groups; young people, women,immigrants and elderly who have difficulty to acquire financing on the existing financial markets for starting a business. In general the race went well except for some minor problems (details in annex 4) Planning, designing and carrying out process went well and resulted to 18 microfinance products designed by the targeted groups.
Expected long term effects
The race identified about 80 problems or problem areas, these were processed and turned into 18 projects. Of the 18 reported projects we expect a number of them to be implemented and to lead to to changes when it comes to microfinance products, conditions and organization. Strategies to affect change in working methods in microfinance organizations, investors and policy makers have been developed. (See Appendix 2) Results will be presented during the next EMN Annual Conference in Lisbon 2014
Approach and implementation
Innovation Race is a structured and organized change process whose goal is to achieve real change. The format has a time limit as an important part of the basic conditions for achieving the desired results. In this case 48 hours. Process:Research,mobilization,implementation The implementation started with lectures and information on what will happen and exercises for teambuildning. The management of the process is then taken over by processmanagers who together with the designers ensure that expected results are achieved on time.