Why Businesses Back Innovation Centers

More Reasons You Need A Silicon Valley Innovation Center

Over a year ago, I wrote 3 Reasons You Need A Silicon Valley Incubator, so once again I pat myself on the back for predicting that eventually, this would become commonplace. Comes with the job of being a futurist, I guess. One of the reasons my company has set up a practice to help organizations have a Silicon Valley presence, from a small office to a full lab. You need to be here – there is simply too much innovation and opportunity to be ignored.  Plus, while this article states “Innovation Drives Companies to Think and Act Like Startups” I’d say the opposite is more true: “thinking like a startup drives innovation”.

While if you ask me, everyone within the organization should be tapped for innovative ideas (there are plenty of ways to capture innovative ideas from your employees without impacting your operational process) building innovation centers are part of a key strategy to not only invent ideas (typically innovation centers which I consider effective do spend time defining new ways to disrupt their own organization – something that a lot of operations and technical folks may not be able to do) these innovation centers should not simply be in the business of inventing new products and services, they should spend time actually building them – prototype and even launch them into limited trails.

One of our clients had a very active innovation lab – but their final product was ideas – the artifact a very well done PowerPoint presentation, which they went over on a monthly basis. When we engaged with them, we not only built prototypes nearly within that same timeframe, so that when the ideas where presented to the selection committee they were rough functional apps, we flipped the process – instead of developing a fully fleshed out deck with business plan, we started with an idea, and built a quick prototype in Ruby On Rails and over 3 days we had a decent enough prototype to get the thumbs up on doing a pilot.

So I’d go farther and say not only do you need a Silicon Valley-based innovation lab – you need an incubator – even a small one – in order to truly leverage the innovation in this area.

Big non-tech businesses are mimicking them by investing in innovation centers or labs that look and feel more like a boot-strapped venture rather than a..

Source: Why Businesses Back Innovation Centers