innovation lab
Experimental development space
An innovation lab is a dedicated space or team within an organization tasked with developing new ideas, products, or processes.
Companies establish innovation labs to experiment outside normal operations: The bank's innovation lab is testing blockchain applications.
The term sometimes carries skepticism, as such labs may produce more publicity than actual innovation.
- incubatorControlled warming enclosure
- prototypeFirst functional specimen
- proof of conceptDemonstration of feasibility
- minimum viable productSimplest testable market offering
- rapid prototypingQuick fabrication of preliminary models
startup · whiteboard · post-it notes · open floor plan · brainstorm · experiment · disruption · sandbox · coworking · hackathon · sprint planning · iteration · fail fast · pivot · ideation · blue sky thinking · design thinking · skunkworks
innovation labbusiness as usual
Continuation of normal routine
manufacturing floor · operations center · back office · day-to-day operations · legacy systems
innovation labquality assurance
Standards compliance verification
legal department · risk management · bureaucracy · standard operating procedures · command and control
innovation labtradition
Custom passed through generations
status quo · old guard · established practice · stagnation · conservatism
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