credit: From: Wikipedia

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.

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