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While innovation hubs, usually created by startups, established company, or a group of companies have risen in popularity, some of them have actually failed.
But the goal is to apply the startup "move fast and fail often" approach to deliver new innovations for the benefit of the company.
Innovation hubs offer a great opportunity to partner and experiment with other companies, without the constraints and distractions of the day-to-day business.
According to Marcella Simons, innovation manager and product owner of DARE, stimulating innovation within ABN AMRO, "The great thing about innovation hubs is that they are vital to foster ideas, collaborate, and learn fast."
It's this failure-friendly that makes learning possible, she adds.
Innovation hubs can help growing companies to scale and accelerate, help solve business goals and problems, and deliver clear innovation strategies. Amidst failure and criticism, some innovation hubs who are successful have produced some of the best innovations that people use today. Read the Entire Article
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
PepsiCo has selected eight startups from the Middle East and North Africa region as finalists in its Mega Green Accelerator program, which aims to " nurture the next generation of innovators as they...more
Funding for green technologies is on the rise in India, and the country's biggest investment fund is aiming to raise $1 billion for a climate-related fund by 2022, Bloomberg reports. The fund,...more
Foundation: Oshkosh Area Community Foundation
A nurse in Fond du Lac, Wis., is this year's recipient of the DAISY Award, given to those who go "above and beyond" to provide excellent patient care. Haley Birschbach, a nurse in medical...more
It's time for the US to get serious about regulating artificial intelligence, according to a new report from a bipartisan group of senators. The report from the Bipartisan Senate AI Working...more
Rayees Rahman may not be a household name, but he's the winner of a prestigious life-sciences investment competition in the United Arab Emirates. The 21-year-old won the JP Morgan Asset...more
Foundation: GE Foundation
"You showed up in the classroom. You showed up in the laboratory. You showed up on Zoom. And you showed up here today," University of Massachusetts Amherst Chancellor Javier Reyes told...more
The 14th annual Hawai'i Food & Wine Festival is scheduled to take place in October, and in addition to food and wine, festival-goers will get a chance to support local farmers, fishermen, and...more
More than 6.6 million people in the US are affected by alopecia areata, a disease that causes hair to fall out of the scalp and beard, usually before the age of 20. There's currently no treatment...more
"In the dynamic home furnishings industry, excellence shines through industry professionals' dedication, innovation, and unwavering commitment." That's what the Home Furnishings Association has...more
Rayees Rahman may not be a household name, but he's the winner of a prestigious life-sciences investment competition in the United Arab Emirates. The 21-year-old won the JP Morgan Life Sciences...more
Social Entrepreneurship
Spotlight
Vertical Farming: The Way to Feed a Global Population
Vertical farms are designed in a way to avoid the pressing issues about growing food crops in drought-and-disease-prone fields miles away from the population centers in which they will be consumed.
