Innovation Labs: Flying, or Failing? | Intrapreneurship Conference

Despite the growing number of innovation labs, accelerators, and outposts, many fail within three years of their launch. The reason behind their failure is often due to a lack of integration with the core company, a focus on tweaking instead of transforming, building from within instead of external innovation, a focus on PR rather than commercial viability, and a lack of strategy. These issues lead to disjointed processes, lack of effective change, an inability to innovate from outside, a skewed focus on image over true innovation, and a lack of clear direction. To succeed, companies need to integrate innovation with the core company, focus on transformative ideas rather than tweaks, find external innovation sources, prioritize commercial viability over image, and align innovation with overall business strategy.