Table of Contents
What makes a great innovation hub?
Open innovation hubs try to bring diverse minds and opinions together and allow passionate people to explore their own ideas and pursue their own projects, thereby enabling innovation. Open innovation hubs have rapidly expanded their reach over the past decade or so, many created by corporations and universities.
What is a tech innovation hub anyway?
Hubs build on the notion that ideation and creativity can neither be pre-specified nor coerced, and so they aim to create a structure in which individuals serendipitously interact with others that they would not typically meet.
What makes a city good for startups?
There is strong correlation between sustained economic and technological growth and support for the startup culture. Low Labor Intensity — abundance of high-wage, white-collar jobs are common for tech areas. Access to Talent — universities and research centers serve as sources to attract and recruit talent.
How do I set up innovation lab?
4 steps to set up the Innovation Lab 2.0
- Let’s live instead of survive.
- A new role for the innovation lab.
- Very tight alignment between parent company and innovation lab.
- Empathy and the customer first.
- Evidence-driven funnels and tighter KPIs.
- Speed boats with impact, not party boats.
Why do innovation hubs fail?
1. Innovation Programs don’t have a clear objective and success factors defined. There is often a problem that these initiatives have no clear goals, or the sufficient metrics to track their success. Without the ability to manage metrics, any new Innovation lab is doomed to fail.
Is focusing on smaller cities a good strategy?
Smaller cities create more obvious centers of density Often, resources relevant for entrepreneurs concentrate within a few blocks, making meetings with multiple stakeholders possible in a single afternoon. This leads to efficiencies of time and connections that may take twice as long to navigate in a bigger place.
Why small cities are the best?
Shorter traveling times, cheaper property, and a larger sense of community are just some of the advantages that may come with putting down roots in a small city.
What makes a good innovation lab?
In order to succeed, innovation labs require a clear purpose that will empower the parent organization; a portfolio of beacon projects that push the edge of the organization’s current strategy; creative teams with a breadth of expertise; and work spaces where the lab can develop and sustain its own unique culture.