This document discusses innovation and the process of innovation. It proposes creating an incubator using the GBPEC alumni network to generate new ideas from students, work on alumni ideas from past projects, and fund some student ideas. A website would be created for registered GBPEC users to publish ideas as presentations, videos or documents, with strict intellectual property policies to protect the idea authors. The alumni network would invest in and rate posted ideas. Successful ideas completing the incubator phase would then be launched in the market through venture capitalists. Next steps include defining board members and creating an online forum to develop a business plan and investment terms and conditions regarding intellectual property.

1. Atul Awasthi 15th August 2o11 Enterpreneuship @ GBPEC Alumni

2. What is innovative? innovative– “being or producing something like nothing done or experienced or created before” Innovative products – could be difficult to get accepted if it takes time to understand why you need them – but once there you will be alone - Segway Innovative solutions - Safetac ®– the soft silicon bandage that adheres to dry skin but not to moist wounds – StoraTeknikpriset 2010, Tomas Fabo

3. Innovation process Building blocks Abilitytoformulate the problem Infrastructure Tradition in society Skill Capital Valueof the solution Problem

4. Building Blocks for InnovationCapital , Infrastructure & People The goal is that we use GBPEC as incubator. Students can be generating Ideas ( new ones) Students can work on Alumnus Ideas ( ex. Final year projects etc.) GBPEC as college can also fund some of the ideas in order to keep the IP rights. The Platform to facilitate this is a website. The website will be open only for GBPEC registered user with strict IP(Intellectual Property )Model where IP remains with the one who published at idea in form of PPT, video or a word doc. GBPEC Alumni network will invest and rate these ideas. Once the incubator phase is completed ( with a workable solution and accepted by Investors). It can be placed into market with Vendor Capitalists in order launch it in a form of a company.

5. Next Steps Define key board members from College Alumni Students Meet at an online Forum( google+, skype) Create a business plan, Investment T & C ( IP ) Kickoff