Developing entrepreneurial skills among young engineers should be considered to be of a strategic importance. Young entrepreneurs build innovation capacity within a given region for economic prosperity and its successful integration into global economy.
In order to do so a proper innovation ecosystem has to incorporate the following two pillars:
1. Center for Innovative Technologies, a nonprofit organization having for objective to accelerate developments of carefully selected technology domains and proactively champion their deployment and explorations within specific geographical region and/or technology domain. This organization would provide an incubation environment for individual and institutional researcher, technology entrepreneurs and small businesses owners.
2. Venture Capital Fund, provides angels funds and investments in early-stage of business development which tends to be more risky. The Fund will be governed by the Investment Committee representing the investors. This Fund is instrumental to the entire concept as it needs to install the process rigor and financial discipline, win the trust and attracts both institutional and individual investors as well as ensures success and growth of entire operation.
These two institutions are expected to work hand in hand, however they have to be governed independently in order to preserve discipline in both selection and financing processes.