Barclays has partnered with Nest and Moringa School to launch the Barclays Kenya Product Lab in Nairobi to give local developers access to resources to develop solutions that will shape the future of the financial industry.
The product lab, set to be launched around the country, is part of Barclays’ Rise program, launched in July to help accelerate fintech innovation globally.
Director of Barclays Open Innovation Programme, Lubaina Manji said “Our innovation initiatives in Africa are a hugely important part of our aim to create a network of strong innovators across the globe – connecting and co-creating together to create the future of financial services”.
In the deal, Moringa School will offer training on design thinking and user research while Nest will manage the program and provide mentorship. The initial phase kicks off on October 19th where local developers will be taken through a 10-week comprehensive training program at the Barclays Kenya Product Lab and tasked to come up with superior innovative solutions.
Participants will have access to resources available in Barclays’ Global Rise Innovation Hubs across the world as well mentorship from the Barclays global open innovation teams in London, Manchester, New York and other planned locations in the Middle East, Africa and India.
The developers will conduct market research, user research, building product prototypes and pitch their solutions in front of Barclay’s senior executives and program partners. They will also receive in-depth training and mentorship, the best solution to come out of the program will receive a cash prize of $1,000 and the developer will get a chance to continue working with Barclays on the innovation.
Applications are open through this online form between today and October 2nd. Face-to-face interviews will start on the 11th Oct and the program kick-off on 19th Oct at the Barclays Kenya innovation space within the bank’s headquarters.
It will be recalled that Barclays recently launched its $10,000 in cash Barclays Africa Supply Chain Challenge- a Pan African competition inviting the youth to utilize Blockchain technology to come up with innovative tech solutions. As at 2nd September, the challenge had received about 85 entries from more than 15 countries in Africa and beyond, 60 per cent of which originated from Kenya.