The Innovation lab adopt the inclusive model of operation and help to democratise the knowledge towards its applicability. It helps to create product and solutions and help to bring the imagination of individuals and team in a realm. Here the detail on how it operates.
The Innovation Lab is a legal entity, preferably as a Charitable trust [Not for profit] under the main trust/holding of the institution. The Innovation Lab should have a designated place within the institution with prominence. It is expected to allocate a location for Innovation Lab, which can easily accommodate 20-25 students, ~5 faculty members, 2-3 consultants and 1-2 industrial representative at any point. It must have its own governing body, as detail here after. The Innovation Lab as a NFP entity, may hold equity in the company formed out of the entrepreneur endeavour. It expect to have minimal of 12% equity share at formation. The Lab will hold the IP in sharing with its innovator and have the legal right. It shall be funded completely and adequately by the institution's main trust.
The governing body shall consist of the representative from the following houses:
This governing body shall be selecting one of the person of a stature of HoD or senior faculty, to be supported by principal and chairman or equivalent, in the process of recommendation and general election. This can be conducted in every 6 months time, for better governing. The selected person shall be designated as the "Head of Innovation", shall be governing the Lab's rules and regulation for the tenure, and shall be reporting periodically to the principal and governing body.
The participant here means the students. The HoD shall be selecting total 100 students based on a pre agreed criterion. Thereafter these 100 student shall be undergoing a brief training and appear for multiple test process, as per the plan. Post that, 20-25 students shall be selected for further operation.
This selection process is not an elimination for the rest. Rather, it would be inclusive in natures and these 25 individuals will be groomed to be leader to leads the interested participant later. The selection process shall be articulated in the 1st governing council meeting.
We respect every individuals and their thoughts and idea. Even though it is important to enlist all, Lab will set the criteria for enrolment and then the selection. All members of the institution can enrol their idea - as challenge, pertaining to social and economical challenge in the prevailing context of the district, state, country and world. The enrolment shall have 1 page articulated the followings:
The selection process can be outline broadly around the following and may not be limited to these:
Criterion can be derived from the requirement and relevance of the year and context, and based on past success stories.
Innovation Lab constantly need the deep association with technology industries, ranging from diversified field and region. At initial stage, the criteria can be derived based on the feasibility and later in maturity, this can be planned as desired by governing body.
The student needs to be equipped with relevant technology and skills to be more effective in the process. This required extensive training, in form of enablement. We primarily focus of the IT related training in versus decline and later will expand in the more diversified engineering streams, based on multi disciplinary innovation.
This is a critical interaction point from Innovation Lab to the world. The effective use with moderate censorship can help to attract industry and world to see our creativity. Every individual must have the right for social media integration towards innovation. The Innovation Lab must have its own authorised channel to promote the process. Institution and Lab should constantly work together to bring relevant articles in publish media and online, by the help of Principal, HoD and faculty members, in a regular defined intervals. It helps to gain tremendous millage in Institution's branding.
Innovation Lab is not a project management house, neither govern innovation as a project. Innovation needs to be exploratory and creative, with wide spectrum of thoughts and possibilities. Imposing a timeline to this could hamper the process of research. But, as the time and resources are finite , it has to have a boundary condition in terms of budget and timeline. This shall be planned for each challenge and shall be subject to approval of governing council in every quarter.