![]() ![]() Eighty-one percent of companies, according to BCG, partnered with academics, and 83 percent partnered with other companies, up from 60 percent and 65 percent, respectively, in 2015. Some, such as WeWork Labs, are third parties that partner with companies who want to be strategically connected to startups or want to host programs for employees.Ĭompanies can also leverage the knowledge of cutting-edge experts in the field, such as academics. They can also refer to programs set up for internal employees to ideate. They can operate completely separately from the parent company, or be set up internally and staffed with existing employees. Innovation labs function in many different ways. Innovation labs-also known as hubs, incubators, or accelerators-are business units that employ the methods of agile startups, with the goal of devising novel ideas that can either disrupt or complement the overall company. Creative processes like brainstorming and design thinking can drive ideation and the development of new innovations. ![]()
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