An innovation lab is a dedicated space or facility where companies can experiment with new ideas, test new technologies, and develop new products and services. The goal of an innovation lab is to foster a culture of innovation, encourage collaboration, and provide a space for employees to experiment with new ideas and technologies, enabling the company to bring new products and services to market faster.

<aside> 💭 Below are a few considerations when setting up an innovation lab.

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🤝 Interdisciplinary Teams

Whether innovation happens “at the edges” or at “the intersection” through what is known as the Medici Effect, an innovation lab will require a truly interdisciplinary team. Only by bringing together people from different fields, backgrounds, and cultures can a company create new and unexpected combinations of ideas and technologies that lead to innovative solutions. Diversity, cross-collaboration, and exposure to new ideas is essential in building an environment that encourages and nurtures innovation.

🏭 Dedicated Physical Space

The innovation lab is a dedicated physical space, separate from a company’s main operations. This separation is intended to:

• Foster a sense of creativity and experimentation that may not be possible in a traditional office setting
• Facilitate collaboration and cross-functional teamwork through the physical design of the space
• Enable a deep focus on innovation, by eliminating traditional operational activities of the company
• Offer a canvas where prototyping and experimentation are physically possible through the use of dedicated technology
• Ensure that specific data (IT networks, pending patents, etc.) is adequately protected and segregated from daily operations of the company
• Provide an area to showcase progress and milestones of the innovation lab to employees, customers and prospects

🛠️ Access to Technology

An innovation lab should possess the tools and resources necessary to support innovation and product development. Depending on your industry, these may include:

Prototyping tools

3D printers, laser cutters, and other tools to quickly create and test physical prototypes.

Design software

Programs such as CAD and other design software to design and refine products.

Data analytics software

Tools to make sense of data. This includes the gathering, processing, and categorizing of data, enabling the lab to identify patterns and insights that will inform new product development.

Collaboration tools

Virtual meeting software, project management software, and other tools to facilitate communication and collaboration among team members.

Testing and validation tools

Software and hardware tools to test and validate new products and features, such as usability testing tools, A/B testing software, and more.

Ideation tools

Brainstorming software, collaborative whiteboards, and other tools to generate and refine new ideas.

Sensor and IoT tools

Sensors, microcontrollers, and other hardware tools to create and test connected devices and IoT products.

Workspace and meeting facilities:

This can include flexible workspace configurations, conference rooms, and other facilities used for ideation sessions, brainstorming, and collaboration.