The NM-AIST Innovation based Incubation Centre conducted a two days feasibility study training on 10th -11th March , 2022 which aims at equipping innovators to conduct feasibility studies focusing on technical, economical, and operational aspects.

The training will help the incubatees to answer the essential questions of whether to proceed with a proposed innovation or not. The feasibility study training covers the following areas;

Technical feasibility training that composes analyzing the technology/capabilities and technical resources such as hardware, software, and network resources. Inventors are equipped with the knowledge to know and understand if their technologies and technical resources could successfully produce or make the required product or service to its specified target market.

Economic feasibility training that enables the incubatees to compare projected costs and projected benefits of their proposed ideas (cost-benefit analysis) to determine whether it makes sense from a business perspective.

The training equips Inventors to be able to conduct a cost-benefit analysis to uncover hidden costs and benefits from their proposed innovation. At this point inventors should be able see if the projected benefit outweighs projected costs.

Operational feasibility training the incubatees are equipped with knowledge on how to analyze and determine whether goals are met on a daily basis operations. It aims at enabling the incubatees to determine if the operation problems are being solved and if opportunities are well exploited.

After the training the incubatees are expected to conduct feasibility study for their innovations. The results from the feasibility study will inform the NM-AIST management to make informed decision on the Capital and operation investments as well as returns from the investment on the innovations .