Definition
IFAD initiative defines innovation as “a process which adds value or come up with solution to problems in a new manner”. To be innovative, an idea, a product or an approach has to be:
New in the context it is to be applied. The new aspect can refer to the geographical context, the scale, the field, the discipline, the type of culture or the type of businesses (it could be a lesson learned in another context or sector to be applied to the reduction of rural poverty, rural finance, etc)
Useful, according to the expected goal or to the problem to be solved. To be an innovation, a new idea, a new product or an approach must have an added value for their users and bring solutions to particular constraints or problems. In the framework of the IFAD, the innovation should help rural poor to become autonomous, in order to be released from poverty, more efficiently than the traditional approaches.
Able to “sustain” after the test period. An innovation is a product or an idea with upscaling potential, which can be shown through its sustainability and efficiency beyond the test period
The initiative will deal with innovations of regional scope or which have a potential to be retorted in different contexts in number of countries in WCA.
Classification
Initially, three categories of innovations were identified for analysis. This classification will be reviewed throughout the initiative, in consultation with the actors.
1. Technological and practical innovations:
2. Institutional, organisational, methodological Innovations:
3. Political innovations: