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Innovation Lab with L Marks: Discover, Develop, Deploy

What is an Innovation Lab?

This award-winning programme uses the power of open innovation and collaboration to solve business challenges, generate efficiencies, design new product offerings, and improve customer experiences.

L Marks helps businesses discover, develop and deploy these valuable advances through a rapid collaboration over 10 weeks. We leverage the startup and scaleup community that developed new technologies and solutions globally.

 

Why do an Innovation Lab?

Facilitated collaboration with agile and innovative partners leads to tailored solutions for implementation into the business, while also introducing new ways of working which, in turn, drives continuous innovation.

With up to 10 startups working across four or five challenges identified with the client, the Lab makes a huge impact on organisations. Not only they involve several business units, but also they attract the attention of high numbers of employees.

We have a tremendous impact, and the quality of the solutions produced is reflected in its success in galvanising the business.

 

How does the Innovation Lab work?

We support our clients to organise and facilitate a programme that meets their goals and strategic objectives. Our innovation methodology is at your disposal and we work with you to customise it to the needs of your business. L Marks also provides a multidisciplinary team to facilitate the journey from beginning to end.

 

Challenge identification

We work with our clients to articulate challenges and opportunities. We understand and categorise these challenges and then provide a global scout for the best technological solutions to them.

 

Finding partners

Our scouting team uses a vast network, databases and hundreds of community partners to identify start-ups and scale-ups. The scouts determine those who are well placed to work alongside the client to develop, adapt and deploy their product in the market.

We invite the most impressive companies to present their business and compete for a place in the Innovation Lab itself.

 

Delivering value

Startups selected to join the Lab work closely with stakeholders from across the business, gaining an in-depth understanding of its current operations and innovation objectives. L Marks facilitates the delivery of the innovation initiatives in the Lab.

Working hand-in-hand with the startups, corporate stakeholders and external mentors from the L Marks network, to develop and deploy these valuable advances into the business through a rapid collaboration over 10 weeks. We can also provide other valuable resources to support the growth of the startups.

 

Innovation Labs benefits

The innovation lab is like an incubator for innovations, and corporates use it to solve their most pressing problems. Innovation labs are a great way for companies to collaborate and innovate through startups and scale-ups. Labs have become an integral part of the corporate culture and have helped many companies in implementing new solutions.

 

What does the gold standard look like?

In 2018, we were delighted to be chosen to partner with Lloyd’s, the world’s leading specialist insurance and reinsurance market. The vision was to create a new programme to meet the unique and rapidly changing needs of the Lloyd’s market. The Lloyd’s Lab is now a thriving ecosystem of insurers, brokers, InsurTechs and mentors. Over the years, it became the key avenue for the creation of new concepts, ideas and products in the market.

A water utility like United Utilities may use its lab to automate manual processes such as the fault detection of water pipes. A logistics firm might test out a fleet of robots within a warehouse facility, allowing to reduce operational costs.

Our programmes have shown to be adaptable throughout a range of industries, from financial services to construction, from supply chain to retail.

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