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Innovation Lab (iLab) Overview

ASU iHub recognizes that many startups and SMEs are very busy with their main line of products. Their full resources are targeted to the design, marketing and production of these products. However, they still have many innovative ideas for which they want to test the market and build prototypes. Given how busy they are, and with the limited resources they have, these innovative ideals stay unimplemented.

At the same time, the ASU iHub has generated many innovative students that are now senior enough to go tackle the real world. These innovative iHub members should go out and apply their innovative mentalities to real problems in the industry and society. Given the current economic downturn, not many companies have the capability to try out new ideas nor provide internship opportunities

Accordingly, iHub has created this iLab program to help both startups/SMEs as well as the senior iHub members. The iLab program partners with startups and SMEs to provide them

1. a group of ~5 senior innovative  interdisciplinary students to work on a product that they want to be built or tested. These students will be resident on-campus interns dedicating four days per week Aug-Sep and 16 hours per week Oct-Nov
   
2. a co-working space in the ASU iHub for these students to work 
   
3. the ability to use the different labs/workshops in the ASU iHub facility
   
4. a project manager and technical mentors to help the students accomplish their project successfully
   
5. up to 10,000 EGP to fund any hardware needed to build their prototypes
   

In return the startup/SME will provide

1. a product owner to identify the specs of the prototype to be built and help follow up with the iHub team by accommodating them one day per week on their premises
   
2. [optional] some compensation to the student team if they accomplish their project. This is an optional matter and can be in the form of a one time bonus, royalty when product is finalized and sold, a co-venture, ...etc
   

Please note that 

1. The IP of the prototype to be built will be owned by the startup/SME
   
2. The iLab program is in partnership with the BootUp program, run and managed by TIEC