MRIC projects transform ideas into innovative digital solutions for Mauritius

The findings and outcomes of five projects funded by the Mauritius Research and Innovation Council (MRIC) under its Financial Innovation thematic area, were presented this morning in Ebène. The presentations were held in presence of the Chairperson of the MRIC, Dr Khemduth Singh Angateeah, the Executive Director of the MRIC, Professor Theesan Bahorun and industry partners.

In his address on the occasion, Dr Angateeah highlighted the MRIC’s vision to promoting and supporting research and innovation that contribute to the economic and social development of Mauritius. He noted that the projects could be harnessed to address real challenges in the financial sector through innovative approaches.

Referring to the transition of the MRIC into the National Research and Innovation Institute, Dr Angateeah said the new institution would bring research, innovation, industry and Government closer to address national challenges, including energy sustainability, climate change and food sufficiency.

He further stressed the need for Mauritius to develop solutions that address national challenges, reduce dependence on imports, create economic value and access regional and international markets in order to enhance the country’s global competitiveness.

The Chairperson also commended the researchers and innovators for their creativity and commitment, while acknowledging the valuable contribution of industry partners in transforming practical ideas into viable solutions.

He described MRIC funding as an investment in people, ideas and capabilities that strengthens Mauritius’ capacity for innovation and transforms promising ideas into innovations capable of creating economic value.

For his part, Professor Bahorun spoke of the impact of MRIC-funded projects on societal development, indicating that the MRIC has completed 181 projects, while 63 projects are currently ongoing.

According to the Professor, MRIC-funded projects have resulted in prototypes, patents, employment opportunities and revenue generation, while also contributing to human capital development, creation of new business models and enhancement of Mauritius’ reputation as an innovation-driven country.

He moreover reiterated the MRIC’s commitment to support projects aimed at advancing research and innovation and contribute to the country’s economic development.

The projects

The projects have achieved significant milestones in artificial intelligence, financial technology, the Internet of Things (IoT), risk management and business software integration, contributing to the development of innovative digital solutions for the Mauritian market.

The five projects are namely, the AI-Powered Digital Customer Onboarding Agent (AIDO); Debt Exchange: Liquidity & Market Efficiency in Private Debt Trading; Application of IoT in Telematic Insurance; Risk Management and Reporting System; and Interfacing Attendance/Access Control with Business Software (POS/Mini-ERP).

AlgoDynamix Ltd successfully validated its AI-powered customer onboarding solution, incorporating CRM integration, Anti-money Laundering (AML) screening and multilingual voice interaction. The solution has now been prepared for production deployment.

Finance Club Ltd launched a secondary debt exchange enabling eligible investors to resell loan positions before maturity. The project followed regulatory review, system development and pilot testing, as well as independent security and data-protection audits.

I-Novanet Ltd demonstrated the potential of IoT-enabled insurance monitoring through the real-time tracking of warehouse conditions. The pilot project showed that the technology could help clients obtain more competitive insurance terms.

Enabling Environment Ltd strengthened its risk management and compliance platform through extensive testing involving eight financial institutions. The project resulted in 23 significant system enhancements and further advanced the platform’s digital onboarding, and AML capabilities. It also established an e-learning platform, training curriculum and comprehensive support framework.

B. Chamroo Ltd successfully integrated its POS/mini-ERP system with facial recognition and access-control technology, enabling automated user synchronisation, attendance monitoring and access management. Following live deployment and the resolution of technical issues, the system was successfully commissioned and handed over to clients.

03 September 2026

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Topics: Artificial Intelligence