with Ries ’ The Lean Startup , is core reading for the Silicon Valley set . He was captivated by the idea of entrepreneurship within organizations , then following the process of getting buy-in from internal stakeholders , raising funds , recruiting a team and so on .
“ A lot of [ The Lab ] is modelled on the principles in those books and really trying to avoid what ’ s been coined as ‘ innovation theatre ’ where you spend the money on some fancy room or fancy building and then come up with all these ideas but there doesn ’ t end up being any opportunity – or ROI – that comes from it .
“ So we ’ re either getting something out of it or we ’ re showing ourselves that this isn ’ t the right thing to do because our members don ’ t want it or the ROI is just not there ,” added Maxim .
The program has transformed the speed of testing dramatically . POP / io , a video banking company , had been lurking near MSUFCU ’ s project board for 18 months before being thrust into The Lab . “ We were up and running in five weeks ,” says Maxim . 85
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