Innovation takes time – and money, and people and resources. That’s why it’s common for a company to focus on core business activities and not build an innovation lab – a specific building or department dedicated to working on prototypes and fleshing out ideas.
Part of the issue is that it can be difficult to justify and quantify the budget involved. Is it a skunkworks project that will consume resources but not deliver any value? Is it a purely a showcase for engineering prowess, or will the concepts produce real products? For many IT leaders, it’s hard to overcome the stigma of an innovation lab as a financial drain.
Image: A rendering of what a Marxent-powered Lowe's Holoroom kiosk looks like Credit: Marxent
