Home > Entrepreneurship, My Thoughts, Start Up, Strategy > Lost Ideas- Need to give them life.

Lost Ideas- Need to give them life.

A couple of days back, I was talking to a PhD student from IIT Delhi. She is doing research on the use of piezoelectric materials to trace micro-cracks in buildings and then assess if these micro cracks can pose danger to the structure of the building over next few years or decades. I liked the idea. I asked her what she wants to do in future. She said, she will complete her doctorate and start teaching in some University. And, what about the ‘micro-cracks’ idea? Ah! that’s just to write a good thesis and complete her doctorate- to get a teaching position at some ‘good’ university. So, you mean to say the idea will die?

The conversation went on to discuss other areas of research which her fellow researchers are working on. I confess, some of the ideas were just brilliant. But, where do they end- a handful of ‘papers’ published in some journals- which no one, beyond the research oriented faculty of universities read. Then I thought about the business ideas- many or them having won awards at various B-school competitions, which my classmates in MBA used to have. This not only the case of a doctorate student at IIT Delhi or at one B-school, this happens at hundreds of other institutions and forums. Hundreds of brilliant of ideas just fade away and die. Not even a fraction of them get commercialized and never benefit the society. The Lost Ideas.

I thought over this demise of brilliant ideas and propose to have a data base called ‘Idea Junction’- a drop box for ideas. Where anyone can submit his/her idea. The database will be accessible to others who have the resources and the will to start a new venture but are looking for ideas or an investor who has capital looking for investing in smart ideas. This ‘entrepreneur needs and entrepreneur’ can give life to ideas slated to die. A lot of students just drop their business ideas for the lack of ‘company’ and support. This approach of  ‘investor needs an idea’ and ‘an idea looking for adoption’ can  turn around and nurture the abandoned ideas.

As a next step, I propose to create an ecosystem around the ideas taken up for adoption so that they can be nurtured into business ventures and helped to grow. This would require a number of other ingredients (technical team, office space etc.) besides the capital. The next step of the approach will be ‘Coll-eTent’- Collaborative Entrepreneurship, where multiple parties can pitch in with their resources to create some thing big!

I just have some vague ideas around this right now. I am working on the details and will try to create a first cut model before testing it in a prototype form.

This attempt is based on collaborative effort, so, if anyone is willing to help me in this attempt- he/she is most welcome to join in!

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