What Is Corporate Innovation & Why Is It Important? 💡 | Corporate Lab

Corporate innovation is not just about having a creative mindset but a set of practices and strategies that are followed to achieve new objectives. Startups are good at innovation, but all companies need to innovate to stay competitive. Corporate innovation can be of various types such as technological innovation, business innovation, and others. Companies can execute projects that contribute to corporate innovation through hackathons, innovation labs, and internal events. Corporate innovation is crucial for companies to adapt to changes, new needs, and deal with new and fresh ideas from startups.