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FOROMIC launches in the Dominican Republic, seeks to reinvent inclusion

The event was attended by IDB President Luis Alberto Moreno.

Dominican RepublicFOROMIC, the main event on innovation for the inclusion of Latin America and the Caribbean, has just started in Punta Cana, Dominican Republic, with the slogan “Reinventing Inclusion”. The event was inaugurated by the Minister of Finance, Donald Guerrero and the President of the IDB, Luis Alberto Moreno.

Moreno asserted that the FOROMIC agenda was designed to offer participants concrete tools that help to adopt and scale up the innovations that societies need to close their inclusion gaps.

FOROMIC 2019 focuses on how creative solutions, based on digital solutions and new business models, can reinvent inclusion and improve lives for all.

Organized by the IDB Group and led by its innovation laboratory, IDB Lab, this event is the main platform for connections between innovators, global and local actors that seek to solve the problems of inclusion in Latin America and the Caribbean. FOROMIC provides a unique opportunity to learn about new trends, develop connections, and do business in the field of inclusion.

This year the sessions will focus on three themes: new finance, business in transformation and better lives. In the field of new finance, the main discussion topics are the regulation for financial innovation, the role of Fintech companies in financial inclusion, the payment revolution and the challenges of digital identity. In business, the topics will be the creative economy, financing for innovators, innovations in agricultural technology (Agtech), and business opportunities in the blue economy —which are those connected to the Oceans economy.

The “Better Lives” panels will address new approaches to 21st century skills or the skills needed to thrive in an environment influenced by the fourth industrial revolution. It will also cover the way in which innovations in essential services such as mobility, water, sanitation, housing and energy can transform urban lives, and the business opportunities they generate.

The cross-cutting themes of FOROMIC 2019 are sustainable tourism and resilience, digital transformation and gender, paying special attention to the relevance of these issues for the Dominican Republic and in the environment of small-island countries. FOROMIC participants may also experiment with new technologies, such as augmented virtual reality, and will have the opportunity to be part of a space to publicize new initiatives, programs and studies of the IDB Group and other actors, on issues relevant to inclusion.

This event brings together financial institutions, decision-makers, companies, creatives, and innovators from all over the region for two days. All of them will analyze how innovation — driven by emerging technologies and disruptive business models — is transforming inclusion in financial services, entrepreneurship, and the future of work. 

About the IDB Group

The IDB Group is the leading source of development finance for Latin America and the Caribbean. It helps to improve lives by providing financial solutions and development know-how to public and private sector clients. The group comprises the IDB, which has worked with governments for 60 years; IDB Invest, which serves the private sector; and IDB Lab, which tests innovative ways to enable more inclusive growth.