How to Prevent your Innovation Lab from Failing
Innovation labs are popping up all over the world. A recent report noted that 88 innovation labs opened their doors globally between March 2016 and October 2016. That is over ten new innovation labs launching each month during that period. The rate at which these labs are opening is not showing any signs of letting up either.
More recently, innovation labs have been launched across industries such as hospitality (Marriott), financial services (DBS) and insurance (IAG). Even the NBA is jumping (pardon the pun) onboard with the Philadelphia 76ers launching their own innovation lab. You won’t struggle to find an article about the launch of a new innovation lab, however you will struggle to find one detailing the success or failure after launch.
For every innovation lab that succeeds in achieving positive outcomes, there are many that suffer an all too different fate, usually amounting to nothing more than glorified meeting rooms. To the outside world, these labs are hubs of creativity and inspiration, internally, they can often become a place where people get away from their desks to lodge expense reports and read magazines.
So why are these innovation labs failing?
Identifying the need to invest in innovation is a first step in the right direction. However, it is imperative to develop a clear and compelling vision and objectives prior to establishing an innovation lab.
Why is the lab being created? Are you looking to use it as a tool to collaborate with clients? Is the lab going to be focused on digital technologies, acquiring new resources and expertise or testing new business models? Will it be a combination of different objectives? Answer questions like these before proceeding.
Bean bags, ping pong tables, huge screens, colourful walls - all great but they don’t make an organisation innovative. Going to work in jeans and a t-shirt doesn’t make you innovative either. Spend less time mimicking startup culture and focus on getting the job done, or as said startups would say, getting sh*t done. Everything short of moving the needle on innovation is just theatre.
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The WorkFlow podcast is hosted by Steve Glaveski with a mission to help you unlock your potential to do more great work in far less time, whether you're working as part of a team or flying solo, and to set you up for a richer life.
To help you avoid stepping into these all too common pitfalls, we’ve reflected on our five years as an organization working on corporate innovation programs across the globe, and have prepared 100 DOs and DON’Ts.
