What is Innovation Lab?
An innovation lab is a dedicated space or team within a company focused on exploring new ideas and technologies. These labs are designed to foster creativity, experimentation, and collaboration, allowing employees to work on projects that may not fit within traditional business structures. Innovation labs often operate with a degree of autonomy, providing a safe environment for teams to take risks, challenge assumptions, and develop breakthrough solutions. They serve as incubators for innovation, enabling companies to stay competitive and responsive to changing market dynamics.