There are several sources of innovation. According to Peter F. Drucker the general sources of innovations are different changes in industry structure, in market structure, in local and global demographics, in human perception, mood and meaning, in the amount of already available scientific knowledge, etc.
At CIIT, through applied/adaptive research, concrete inventive ideas may emerge in the following two forms:
- New product development ideas
- University-Industry Projects (UIPs) that will solve specific industry problems or improve current technology/practices
In order to transform these ideas into something useful and commercially viable, the process of innovation will thus start. CIIT Incubation Centres (CIC) will provide the basic infrastructure for carrying forward these new product development ideas towards commercialization. At the innovation phase, the ideas will be provided intellectual property rights protection, market/technical feasibility to adjudge their suitability, technical consultancy from CIIT faculty and seed money for taking them into full fledge commercialization phase. Also at this stage, the inventive ideas will meet the entrepreneurs majority of whom will come from the CIIT faculty/students. The CICs will provide physical infrastructure to the entrepreneurs in the form of furnished office space and shared conference room facilities, computer/internet access, website, etc.