Launching a Viable Innovation Lab

Launching a Viable Innovation Lab brings together brings together leaders shaping and working in innovation labs within major companies and agencies to discuss their intent, best practices, and potential futures. 

Ashwini (Asha) Srikantiah Director, Design Thinking & Innovation, Fidelity Labs

Greg Petroff Chief Experience Officer, GE Sostware

Chris Finlay Senior Director of Experience Design and Innovation, Optum

Zachary Jean Paradis Director Experience Innovation, SapientNitro

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§  Why invest in an innovation lab? How do the activities within labs–across different companies–contribute to the larger organization?

§  What are the keys to giving an innovation lab the best chance at success? What is the right organization and process ?

§  Is this “innovation lab” thing a fad? Will companies just evolve to do these activities throughout the organization?

key questions the panel will explore include:

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Creating value for people through new or improved services and products (or creating platforms for doing it systemically).

what is innovation?

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We’ve entered an era forces companies to shist their priorities and activities faster than ever before, presenting challenges:

§ How to manage risk?

§ How to drive scale?

§ How to optimize the business?

§ How to identify the next big bet?

we’ve entered the era of continuous innovation

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Different problems or opportunities require different approaches.

a perspective

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the collapse of planning and implementation has led to innovations in how to approach innovation

and forces us to compliment priority with approach

Spun out as a Lean Start Up

Split-test, evolution or developed as

a pilot

Fully funded as a program

Few high-potential concepts which have high ROI potential but little success developed within a current organization

Many moderate potential concepts which could be quickly piloted within an organization to either be fully funded or spun out

Few high-potential platform-level concepts which have clear ROI potential or are strategically essentialEliminate

third priority

Relative Position of Firm

Pilot, Hold, or Shop out second priority

Fast Trackfirst priority concepts

We consider portfolios of both.

Priority Portfolio Approach PortfolioFew high-potential opportunities which have high ROI potential but little chance of successfully being developed within current organization

Many moderate potential concepts which could be quickly piloted in a lab or in the main business to determine value to the organization

Constant analytics-driven optimization combined with a few high-potential platform level programs which have clear ROI potential or are strategically essential.

Spun out as Lean Startup

Developed in labs or pilots

Fully Funded as aanalytics evolution or platform program

different approaches offer different attributes

Analytics & Optimization

Evolve

Platform

Hybrid Agile

Build/Evolve

Platform

Labs & Pilots

Identify New

Platforms

Lean Startup

Identify New Businesses

Planning Scale Agility

Incremental Breakthrough

labs can help identify what’s next

Analytics & Optimization

Evolve

Platform

Hybrid Agile

Build/Evolve

Platform

Labs & Pilots

Identify New

Platforms

Lean Startup

Identify New Businesses

Planning Scale Agility

Incremental Breakthrough

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please pick our panel thank you. ;)