The Innovation Sandbox Protects Both the Startup and the Parent Company

The innovation sandbox is a mechanism for empowering innovation teams in the open. It is a way to create a safe space where teams can experiment with new ideas without putting the parent company at risk.

The innovation sandbox works by creating a set of rules that govern how innovation teams can operate. These rules are designed to protect the parent company from the risks of innovation, while still giving the innovation teams the freedom they need to succeed.

The rules of the innovation sandbox typically include:

• A limited scope: Innovation teams are only allowed to experiment with a limited part of the product or service.
• A limited time frame: Experiments are only allowed to run for a limited amount of time.
• A limited number of customers: Experiments are only allowed to affect a limited number of customers.
• A standard set of metrics: All experiments are evaluated using the same set of metrics.

The innovation sandbox is a powerful tool for fostering innovation. It allows companies to experiment with new ideas without putting their core business at risk. This is essential for long-term growth and success.