Another excellent way to increase both your speed and vertical leap is by exercising with either a stair climber, or utilizing stadium steps. This is an old method but works extremely well to build power and strength to assist in your jumping ability and overall speed on the court.
To perform this basketball drill, either utilize a stair climber type of product and set it so that the stairs move with very little resistance. You want to be able to run on these stairs without having to wait on the machine. If your going to attempt this at a stadium start at the bottom and run and power off of each step on your way to the top. Sprint up the stairs and as you push off each step you want to leap from step to step. As you get more experienced with this drill, you can start skipping steps to really improve your vertical leap.
See the video below for an example of how one should perform the Power Stairs basketball drill.