How are big companies fostering startups through innovation labs?
That was the topic of BostInno’s State of Innovation meetup: Corporate Innovation Labs last night. The panel, moderated by Robert G. Urban, Former President of J&J Innovation Lab featured Emily Reichert, CEO at Greentown Labs; Brain Ulincy, VP at Thomson Reuters; Pat O'Doherty, VP of Emerging Business at Analog Devices; Carrie Allen, Co-Founder at The Agency; and Thomas Ryden, Executive Director at Mass Robotics. The event was presented by Analog Devices at their Analog Garage in the heart of downtown Boston.
During the discussion, panelists shared a few tips and things to know about one crucial aspect of their corporate innovation labs: How to get in. Here’s a breakdown of the insights they shared about the application process of their respective programs. Startup founders, listen up:
- Greentown Labs: They look for “a general level of seriousness,” as CEO Emily Reichert said; They like to see founders who quit their daily jobs and are fully committed.
- MassRobotics: They care more about the technology than the financial side of the venture.
- The Agency (CIC): You don’t need to be based in Boston to get in. Thomson Reuters: They look at the growth areas of the company – One area they’re currently interested in is contract analytics.
- Analog Garage: They have no focus on a singular space, as they “maniacally focus on everything,” as Pat O’Doherty, VP of Emerging Business Group at Analog Garage, put it. The challenge for founders? Pitching technology that Analog doesn’t already have access to.
Thank you to all who came out last night. Join us for our next State of Innovation Meetup: Talent Inno on May 15. We'll be discussing the best ways to attract, retain and build talent at startup and tech companies.
Thank you to our Presenting Sponsor!
