Innovation Risk Diagnostic — Product Innovation Rubric (PIR)

Session on "Innovation Risk Diagnostic — Product Innovation Rubric (PIR)"

Date: 15th May 2020

Time and duration: 3:00 pm to 4:00 pm – 1 hours

Resource Person with affiliation: Dr. Lakshmi Meera , Program Director, Forge Incubator. Program

Theme:Entrepreneurship Development: Innovation Awareness for students and Faculty

Objective: The objective of the session was to give insight into the real meaning of Innovation and the process of converting invention into commercially acceptable innovation. Benefit in terms of learning/Skill/Knowledge obtained: The session was very informative and would help the students to innovate, develop a prototype and commercialize the product. The advantage of the session was not only for the students but also for the existing start ups. There are many concerns which the student at the ideation stage often things. The session helped them in understanding how to go convert their innovative idea into a project.

Overall report of the activity: An online session was organised by IIC on 15th May 2020. The topic of the youtube session was “Innovation Risk Diagnostic — Product Innovation Rubric (PIR)"and the resource person was Dr. Lakshmi Meera , Program Director, Forge Incubator. Ten students and a faculty Coordinator from IIS University participated in the three hours session. The session was essential for students as well as the faculty in order to comprehend them with the innovation process. The current state where there are lot of possibilities for the start-ups to enter into new markets. The session explained all the steps and risks taking a leap from being an innovator to becoming an entrepreneur. Dr Lakshmi Meera explained the process of innovation and the risk related to the innovation in a very simple manner. The session was interesting for the students as well as the start ups inroder to develop a perspective on how an invention can be converted into innovation and a commercially viable product. She described all the measures and means through which innovation and entrepreneurship can be encouraged in the academic world. The session was very well planned and covered all the key aspects of the policy. After the session an e-assessment was attempted by the participants.