The HST Innovation Farm model helps companies test their early-stage innovation projects by providing the appropriate scope, project team, technology solution and management for each innovation lab. The objective of innovation labs is to provide the member company a proof of concept that will guide its development and roll-out.
Each farm will hold 3-4 yearly workshops around key topics to help member companies understand the key pain points, possible roadmaps to innovation and appropriate technologies available.
Innovation labs are the innovation projects run by companies within the HST Innovation Farms. They are usually 3-4 months long and typical deliverables will be algorithms, bots, apps, digital business models, automation processes, analytics tool, etc. These labs may be piloted individually by each company or jointly among several companies. They will be managed using agile methodology and the fee paid by companies will depend on scope and complexity.
The member community is composed of the companies in each farm. A company may join one or several farms. For example, it may be a member of the Customer Analytics Farm and the LAWx farm since each farm is especially relevant for specific roles within companies. (e.g., CMO’s will join the Customer Analytics Farm while Heads of Corporate Legal Departments and Digital Officers of Law Firms will join LAWx.
For a small yearly fee, member companies have access to numerous benefits, including:
- access to engage an innovation lab
- four yearly workshops around specific topics relevant to the community
- one annual conference that highlights key findings of the year
- access to curated materials (reports, white papers, POV documents, etc.) relevant to the community
Technology partners provide technology and support free of charge to the farms for members to use in innovation labs, for example hardware, cloud services, analytics software, etc.
Sponsorship opportunities are also available.
Seasoned professionals will conduct each innovation lab. A typical project lasting 3-4 months will include:
- a full-time project leader: from the IE network (e.g., a full-time or adjunct professor)
- a full-time project team of 2-3 people: from the IE network, partner university network, client or tech partner
- experts: as required, from the IE network
All team members will be remunerated at competitive rates to guarantee top talent participates.