The IIBS aims “to establish and facilitate better linkages for communication and collaboration between academia, entrepreneurs and industry innovators affiliated with Bangalore City University.”

Emerging Venture Ecosystem (EVE) extends IIBS’s innovation ecosystem beyond the campus and into the community. EVE is a distributed incubation program focusing on the process of business development appropriate to the unique needs of each client. This venture partnership incubator program operates under the belief that new businesses need a concrete plan to succeed. A Board of Advisors established from community resources or alumni provides guidance. Peer coaching is accomplished through monthly peer review meetings where the CEOs of the incubated companies get together to talk about topics and issues of importance to them. EVE client companies are invited to networking opportunities within the local business and academic community to expand professional networks and increase exposure to decision makers. Presentations of all EVE participating companies showcase the companies to the Rensselaer community, venture organizations, news media, and the community at large.

Methods used for creating innovation Ecosystem:

Outsiders accelerating the innovation: All the recent innovations like adaptive learning, competency-based learning and MOOCs are putting pressure on institutions to define what learning is. It is getting accelerated by the energy of entrepreneurs, employers, investors and most importantly, new types of learners who are open to experimenting. The opportunity for IIBS and systems is to embrace outsiders as an important part of the innovation ecosystem.

Including outsiders into an innovation ecosystem: While there are many enablers of innovation in higher education, IIBS believes that the inclusion of key stakeholders in the ecosystem or network of innovation is very critical. The existing definition of the ecosystem of faculty and administrative leadership are expanded to involve stakeholders, including employers and business service providers, to adopt and accelerate innovation.