A sprint is a 1 week super-focused exercise where a team is gathered to work continuously on a problem. Sprints should be used to test if a concept or product will work prior to making a big resource commitment in people or money. Cristina Fonseca, founder of TalkDesk, recommend me to look at this concept. I did it on my current company and really liked it.
Jake Knapp developed a sprint process for Google Ventures that he then executed many times with well known startups. Jake also led sprints at Google for projects inside Gmail and Google X.
From Monday to Friday, each team member participating in the sprint should be 100% focused on the problem presented and avoid all distractions. No phones or laptops except where needed, and in short breaks. There is a maximum of 7 team members. You need a Decision Maker that takes part in the process as an individual, and in the end has the ultimate power to decide outputs. Another of those seven is the Facilitator who is in charge of schedules and the flow. You need to bring relevant people from each area of the company. Due to the level of focus needed, 6 hours should be the limit per day.