Video: Advice on Starting a Corporate Innovation Lab

By Kelsey Alpaio and Kaitlin Milliken, Innovation Leader Staff

With seven labs across the globe, the media and information giant Thomson Reuters has a larger network of innovation labs than most companies. Mona Vernon, Chief Technology Officer of Thomson Reuters Labs, discusses goals, people, governance, and the relationship between a lab and the core business. Vernon also touches on the question of where to locate an innovation lab.

“Really think strategically about where to position your labs,” Vernon recommends. “For us, our labs are located close to our strategic customers. We want to listen to them, learn from them, and co-create with them.” Another factor, she adds, are “really good universities” and “exciting, innovative startups” that Thomson Reuters can collaborate with.

This video is part of our IL Confidential series, which features advice from Vernon and others on topics like:

  • Building Internal Consensus
  • Working with Legal and Compliance
  • Using Metrics to Define Success
  • Surviving a Management or Strategy Change

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