A Y7 Dock is based on an ad-hoc multidisciplinary group of 5-10 selected graduates that work around a central sector, theme or area of need. The team is facilitated by the Y7 port in order to produce new ideas and conceptual prototypes against specific innovation needs that may be presented by the Y7 Team, sponsors and/or affiliates. A Dock operates for 4 – 6 months to produce the specific project’s deliverables, or generate new startups around the ideas generated by the group.
The Deliverables of a Dock:
Selected proposals and conceptual prototypes of new concepts, innovative products and services, supported by initial market research, benchmarking, and proposed business models. The projects are developed by the crews under the guidance and facilitation of the Y7 Port’s team with the aim of being developed into new startups, or new projects that serve the innovation needs of the sponsoring entities.
The Basic Principles of Y7 Docks are:
- Shared Motives and Inspiration: One of the prime criteria for our selection of Y7 crews is a recognized spirit of world- citizenship and a desire to work and develop for a better future. This is the spirit that builds the best teamwork and fosters group dedication.
- Five Dimensional Sustainability Criteria: Every product, service or process developed within Y7 must comply with a 5 dimensional approach for sustainability as an inseparable part of its responsibility to future generations.
- A Code of Honor: Crew members working within Y7 must comply with a unique code of honor that assures the transparency, credibility and discretion necessary for joint innovation processes.
- Full Innovation Cycles: Building the capabilities to facilitate the full innovation cycle through the use of the “Fostering Goods” © and the Design Thinking approach. From the definition of needs, through the research of the market, existing solutions and gaps, generation of new ideas for solutions, methodologies of visualization and selection of solutions, to business modeling, and preparation for presentation to potential stakeholders and investors.
- From Need to Seed: The Y7 docks are designed to generate successful meeting points between needs presented by different sponsors and the production of valid seed ideas to cater for these needs. By recruiting the commitment of sponsors and affiliates in the early pre-seed stage, the sponsors develop a responsibility to accompany the entire process. This commitment ensures the viability of the solution by including relevant market needs and conditions, thereby increasing the rate of success for innovation processes.
- Exposure: The Y7 network allows participating interns and entrepreneurs invaluable exposure to potential partners, investors and stakeholders.
- A Training Hub: Y7 Crews get state of the art training and mentoring in global cutting edge methodologies for innovation processes, allowing them to become entrepreneurs.
- A Multiple WIN Model: In many cases – Y7 crews can share the success of the fruits of the work, either in the form of shareholding, royalties or employment.