Jeremiah Owyang: Why Companies Need An Innovation Program
Johnson & Johnson's JLABS enable outside innovation inside the company. JLABS gives startups the tools they need to level the playing field against large, corporate R&D teams. Half of each JLABS space is a common area with state-of-the-art equipment for use, while the other half is comprised of individual labs that help companies get started. J&J takes no equity from ideas and companies paying to use JLAB space, but rather builds relationships with the ultimate goal of ecosystem innovation that benefits all (even competitors).