We have given our staff the flexibility to innovate through MedLab®. We recognise that not every idea will work but in the rapidly evolving markets in which we operate, a constant flow of new ideas, and the capability to bring them to fruition if they are workable or close them down if they fail, is critical to our business sustainability.
MedLab® is an inter-departmental working group dedicated to managing and developing the intellectual Property (IP) and Innovation asset value within the company by prioritising the R&D initiatives and innovation activities. The company now benefits from having an R&D centre that manages and administers its know-how (IP and patents) in a world of widely distributed knowledge. The centre facilitates innovation by providing the bridging, brokering and knowledge transfer necessary to bring together the range of different teams. This unit is fed with ideas from throughout the organization and develops and customise ideas for different clients utilising the know-how and experience in adapting the ideas to products and/or services to different markets and jurisdictions.
MedLab® facilitates idea generation – these ideas are created within MedLab® with collaboration across all units within the company and external collaboration with strategic parties. MedLab® facilitates conversion of these ideas, through their selection, screening and initial funding, developing the idea through to initial results stage.
MedLab® facilitates diffusion of these ideas, encouraging their spread and dissemination across the company.