We keep hearing from companies, organizations and even cities of their wish to establish an “Innovation Lab”. But this has become such a catch-all term for so many different activities, that it is often difficult to even start thinking about the task, harder still to design a reasonable plan of action and rare to the point of being exotic to see one that actually delivers on the typically high expectations of its founders. Several useless versions of innovation labs that you may encounter:
BUT an Innovation Lab is not necessarily a dead end. Here are 4 key topics worth considering as you go about the task:
Additional factors will also determine the success of an Innovation Lab: financing, selection criteria for participants, interface with business units and more. The two main take-aways I recommend from this post are: 1) It is very easy to get an IL wrong; but 2) designed and implemented correctly, an IL can greatly contribute to your organization’s innovation efforts.
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