May 22, 2018

Atlas of Innovation for Economic Stability identifies innovations that create stable incomes and build more inclusive economies for poor and vulnerable people

A version of this announcement was also posted to FHI 360’s website here

Cover of the Atlas of Innovation for Economic Stability with financial illustrations and a globe(May 22) Bangkok, Thailand —  The Atlas of Innovation for Economic Stability, published today by international NGO FHI 360 with support from The Rockefeller Foundation, highlights exciting new innovations that are helping to create economic stability in the changing global marketplace. The Atlas is the result of a global research and crowdsourcing effort, and features more than sixty innovations from around the world that help individuals, households, communities, and countries survive and prosper even in the face of economic volatility.

It presents profiles of innovators and entrepreneurs, and offers recommendations for how global development partners can support and strengthen economic stability and innovation. Phil Psilos, FHI 360’s Asia-Pacific Technical Advisor for Economic Development & Innovation and the principal researcher for the report, says, “Economic instability, driven by technological change, shifting labor and employment trends, and climate-related threats to the world’s small farmers has become an underlying driver of chronic poverty. We must bring stability out of the background and into the center of the global development conversation. Leaders from government and the private sector can use innovations featured in the Atlas to promote more inclusive economies.”

Examples of innovations that are enhancing stability around the world include new technologies for digital payments; banking and insurance products; tools that provide better data to farmers via smartphones; workforce monitoring and wellness; pensions and benefits for workers with unstable incomes; technologies to promote public safety; and technologies that help marginalized women and ethnic minorities claim their legal rights to land and property. Many of the featured innovations build on the success of digital payment systems pioneered in Kenya, cash transfer programs pioneered in Brazil and Mexico, and new digital identity verification systems like those in use in India.

The innovations featured in the Atlas are designed to help reduce the volatility and disruption in people’s lives caused by rapid economic, social, and technological change, giving them a better ability to anticipate and prepare for future shocks and stresses. They serve as models of policy, program, and product solutions that improve livelihoods and promote inclusive growth that place economic stability at the center.

The Atlas finds that donors and development partners are collaborating successfully with local and global entrepreneurs to harness a range of innovations that improve stability and reduce the effects of volatility.

In addition, the Atlas finds that private entrepreneurs and businesses are playing a major role in enhancing economic stability – a role typically associated with governments – by providing powerful information products and financial services, often but not always via mobile phones. Citizen networks and non-governmental organizations (NGOs) are also joining entrepreneurs, international donors, and government-business partnerships as important sources of innovation in these areas.  For more information, please read the Atlas here.


Notes to Editors:

Contact information for FHI 360 and The Rockefeller Foundation

Phil Psilos, Asia-Pacific Technical Advisor, Economic Development & Innovation
FHI 360 (Bangkok, Thailand)
O: +66 2 263 5200 ext. 229
F: +66 2 263 2131
M:+66 80 995 8552
Skype: philpsilos
Email: psilos@fhi360.org

Matt Herrick, Managing Director, Communications
The Rockefeller Foundation (New York, NY)
Mobile: (212) 852-8243
Email: mherrick@rockfound.org

 

About FHI 360

FHI 360 is a nonprofit human development organization dedicated to improving lives in lasting ways by advancing integrated, locally driven solutions. Our staff includes experts in health, education, nutrition, environment, economic development, civil society, gender equality, youth, research, technology, communication and social marketing — creating a unique mix of capabilities to address today’s interrelated development challenges. FHI 360 serves more than 60 countries and all U.S. states and territories. For more information, please visit www.fhi360.org or FHI 360 Facebook.

About The Rockefeller Foundation

For more than 100 years, The Rockefeller Foundation’s mission has been to promote the well-being  of humanity throughout the world. Together with partners and grantees, The Rockefeller Foundation strives to catalyze and scale transformative innovations, create unlikely partnerships that span sectors, and take risks others cannot—or will not. For more information, please visit www.rockefellerfoundation.org.