Innovation labs typically operate through a structured program that includes various stages such as:
1. Ideation: This is where participants brainstorm and generate new ideas. 2. Prototyping: Selected ideas are developed into prototypes to test their feasibility. 3. Testing and Validation: Prototypes are tested and validated to ensure they meet market needs. 4. Scaling: Successful prototypes are scaled to create market-ready products or services.
Throughout these stages, participants receive mentorship, access to funding, and technical support to help them succeed.