Impact Labs is LeapFrog’s innovation heartland, an R&D hub that accelerates growth, impact and profitability in our partner companies.
When Mathilda Ström, dynamo deputy CEO of mobile insurer BIMA, speaks about customers, her excitement is palpable. “We are demonstrating the power of client-centricity and clever business models, a synergy that results in the right products for customers and the ability to scale really quickly”, she says.
She should know. Founded five years ago, BIMA now has more than 24 million subscribers in 16 emerging markets – and is growing at some 500,000 customers a month.
One of the special sauces behind BIMA’s growth is a unique innovation laboratory: Impact Labs. Labs projects have helped BIMA to generate critical consumer insights, develop a disruptive m-Health service, test new distribution models and fund education campaigns that have brought insurance to some of the world’s hardest to reach families.
Labs is a non-profit R&D hub that accelerates impact and catalyses new opportunities across LeapFrog’s portfolio companies. Labs accesses grant funding to support innovative projects that commercial funding may find too risky but are deemed to have the potential to break new ground or have significant impact.
At the heart of Labs’ mission is the collaboration of profit with purpose. Labs are demonstrating that catalysing purpose-driven businesses meet need, attract better people, have stronger relations with their customers, are smarter and more profitable, and are thus attractive investment propositions. It’s a virtuous circle.