Building A Thriving Innovation Economy
The Risks
We understand that the work we do is not without its risks, which we must respond to through mitigation measures if we are to prevent these risks occurring or reduce their impact or severity.
Afrilabs shall pursue a strategy of continuous and regular risk assessment of potential risk and instituting corrective mitigation measures. In so doing Afrilabs will explore how to achieve an explicit and balanced risk profile in the strategic programmes/projects it will undertake, including high-risk programming with the potential for transformative impact. Our risk will largely fall under financial, community and team categories.
Financial Risks
We run the risk of insufficient budgets to realise our strategy. We also run the risk of non- alignment with potential funding partners.
To mitigate these risks, we must develop and implement concrete fundraising strategies and constantly prioritise development of strategic partnerships. Both of these are articulated in SP4 13 .
Community Risks
The African innovative space is ever changing and interventions must change to reflect current situations. There is a risk that AfriLabs and member hubs do not respond to these changes in a timely fashion. To mitigate this risk, we must develop and implement a monitoring, evaluation and learning strategy that is rooted in continuous feedback from members as articulated in SP3 14 . A shrinking civic space across the continent reduces avenues for legislative and policy advocacy. These avenues are critical for AfriLabs in ensuring that the innovation and entrepreneurship environment is one in which hubs, innovators and entrepreneurs can thrive. To mitigate this risk we must convene other pan
13 Strategic Pillar 4: Institutional Development for Long Term Sustainability 14 Strategic Pillar 3: Research, Evidence and Learning
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