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Andrew Clark looks at a modern corporate phenomenon and whether the trend of setting up innovation labs is bringing new ideas. Jaideep Prabhu, Jawaharlal Nehru Professor of Indian Business & Enterprise at Cambridge Judge, says this model has its limits: “In the past companies used to have corporate R&D labs doing their innovation, usually close to headquarters and in developed countries where they could be sure of good intellectual property protection. That was a very 20th century model but it’s been increasingly challenged by more frugal, agile, open models of innovation.”