VentureStudio: Fostering & Fuelling the Innovation Bandwagon

After experiencing a jubilant crowd at TechSparks, Ahmedabad, YourStory visited VentureStudio. Placed in a serene location inside Ahmedabad University campus, Venture Studio has taken up an interesting task: Bringing about path-breaking innovation that can create a global impact and accelerate economic development. We had an interesting chat about Innovation and Business with Vikram Parmar, Joint Director, VentureStudio.

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 kick start an ecosystem by nurturing high performing teams to discover deep societal needs, create technological solutions and launch innovative business ventures to address these needs.

VentureStudio came into existence with this vision, backed by the generous support of some private investors from Mumbai. A gap was observed between Academia and Innovation and VentureStudio aims to address it.

VentureStudio has partnered with Centre for Design Research, Stanford University, IIM-A , NID, IIT-Gn and is backed by distinguished individuals of Gujarat, namely, Sanjay Lalbhai, Chairman and MD, Arvind ltd, Praful Anubhai, Educationist and Corporate Advisor, Dr A H Kalro, a scholar and teacher in Operations, Jayanti Ravi, LSE alumna, Prof. Pradyumna Vyas, Director, National Institute of Design (NID),  Samir Kumar Barua, Director IIM-A, and Sudhir Jain, Founder-Director, IIT-Gandhinagar. Neeraj Sonalkar, a PhD Candidate at the Center for Design Research, Stanford University is the Joint Director working along with Vikram. Larry Leifer and Ade Mabogunje are full-time Coaches from Stanford University.

VentureStudio is seeking applicants to their new product and business creation program. Those chosen for the program will spend six months working within a team to develop new product prototypes and business plans in a hands-on, intensive, technically challenging, training and work program. At the end of six months, the teams will have an opportunity to launch a business for deployment of their new product into the market. A one-two year commitment (preferably full-time) to making such a business succeed will be necessary.

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The following process includes skill-set identification, need-analysis and getting hands-on for the product development:

With this process in place, a dynamic vision and solid backing, VentureStudio primarily addresses: prototype ready individuals and startups in pre-incubation phase. Vikram jokingly described the need he is addressing as, “Everyone is ready to sit and advise. No one wants to go out on the field.”

Well, getting on to the field and doing the job is a tough task indeed. YOU can build and scale a brilliant product working with VentureStudio, are you ready to get your hands dirty?

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