12 Reasons Why Most Innovation Labs are Failing

“Digital innovation laboratories are everywhere — and observant onlookers have had a few years to evaluate the results. I’ve had the privilege of meeting many of Singapore’s bank and insurance innovation teams and have heard numerous inside stories that give me a unique perspective on their successes and failures. In most cases, the labs haven’t truly succeeded in bringing innovation into the parent, despite their marketing departments’ attempts to show otherwise. They are failing in their primary mission. This is not for lack of trying, but because they unwittingly apply patterns of behavior that destine them to underperform.

At the risk of oversimplification, I will summarize these unique behaviors into what I call the “dirty dozen.” This list isn’t comprehensive; I look forward to comments suggesting other significant factors. I hope that if you recognise these behaviors in your own lab, it will help you initiate change to improve your results. …”

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