The vision of VentureStudio is to nucleate an innovation ecosystem that accelerates the growth of scalable team-based technology ventures in Ahmedabad and its environs. In VentureStudio, we believe that without a team based approach, the chances for an innovative venture to sustain itself in a highly competitive environment are limited. VentureStudio aims to kickstart an ecosystem by nurturing high performing teams to discover deep societal needs, create technological solutions and launch innovative business ventures to address these needs. Venture founding teams are empowered with a design methodology that cuts across disciplinary boundaries of anthropology, engineering, product design, entrepreneurship and investment. The uniqueness of our approach lies in our concurrent focus on people, process, ideas, and the development of value propositions that would persuade potential investors to invest towards up-scaling a venture. This studio will promote a multi-disciplinary collaborative environment bridging disciplines - which is much needed for addressing the Indian user needs and developing products and services relevant to our context.
Existing efforts in the form of entrepreneurship cells and incubators have been focusing on business case development issues rather than issues related to the understanding of user needs and generation of innovative ideas. Through VentureStudio, we would like to bring a shift by generating awareness among practitioners about the critical relationship between design, business, engineering, and technology; how it could change design values and propositions attached to the proposed innovative ideas. Figure below depicts how different disciplines will come together in VentureStudio to address Indian societal needs. Societal needs in the context of India include but are not limited to healthcare, agro-businesses, education, governance, transportation, energy, VentureStudio recognizes that an innovation ecosystem needs to be diverse, vibrant, and relevant to its population. In the Indian context, special attention will be given to innovators with limited educational and economic background in order to promote grassroots innovation. Thus a portion of the studio program will be devoted to addressing needs in the rural context.
In nucleating the Ahmedabad innovation ecosystem, VentureStudio aims to become a critical player in the knowledge economy of India. Furthermore in the near future, we expect the ventures in the ecosystem would become ideal cases studies for academia to teach design and innovation across the country. Finally, it is expected that the endeavors in VentureStudio will contribute to scientific knowledge in the area of new venture formation.