Eighth Component of the LCI: Key Resources

Research Methodology

The eighth component of the LCI is termed as the Key Resources. From the previous component, the questions, checklists and the hands-on activities have shifted focus towards the HOW question of the LCI process. Once the entire research process related to the invention is depicted in a flow chart, with key deliverables and timelines stated, the LCI process now focus on listing down the key resources required to achieve these key deliverables. It is imperative to list down, what resources the academic inventors and entrepreneurs may require for their future inventions (Bhutto, & Furse, 2020). Varying with respect to types of inventions, various resources may be required by the academic inventors and entrepreneurs. Some of the required resources can be tangible in nature and some of them can be intangible (Kamasak, 2017).

The literature defines tangible as those resources which can be touched physically. For example, an academic inventor may need to build a robot, who can assist in the process of orthopedic surgery, requires tangible resources like robot arm and surgical instruments etc. On the other hand, the intangible resources are those which cannot be physically touched or seen. For example, for the same robot an academic inventor may need to acquire a copyright software of intelligence system with control algorithms and visual images processing to support functionality and accuracy of the robot. In addition, the academic inventor and entrepreneurs may acquire a human capital with intellectual capacities to develop an algorithm and it is also an intangible resource for accomplishing the definite key deliverable. Therefore, an academic inventor and entrepreneurs may need both the tangible and intangible resources at the time of inventing the solution of the real-world problem.

Though kinds of key resources for inventing the solution may vary radically, however, they can be classified as those which may be readily available to the academic inventors and entrepreneurs or may not be readily available to them (Fox, Park, & Lang, 2007). Those resources which are readily available to them, further needs exploration of locations where these can be accessed by the academic inventors and entrepreneurs. Those resources which are not readily available to them, further needs exploration of positions from where these can be accessed or purchased by the academic inventors and entrepreneurs. Therefore, this LCI component intends to help in classifying the information required for all essential key resources along with their possible placements of availability.

Following the LCI format towards inventing solutions, a following question is required to be answered by the academic inventors and entrepreneurs:

• 1.

  How does each key resource (from the listing of resources), required for the proposed invention, will support in attaining each key deliverable?

The stated question reassures that the academic inventors and entrepreneurs will look for required resources and organize the information with respect to exact key deliverables. This chapter facilitates this process with the help of LCI Checklist – VIII. Equally, as each previous checklist assists each component of the LCI, the LCI Checklist – VIII will enable academic inventors and entrepreneurs in exploring and accessing the requisite resources for the invention.

The information gathered will then be assisting in the execution of the invention plan continuously. It is expected that eighth component of the LCI will pave a way forward for converting an idea into reality with the support of answering above question, following items of the LCI Checklist – VIII and seeking assistance from the LCI templates XVI, XVII and XVIII designed for hands-on activities. The five items are stated in Table 1 the LCI Checklist – VIII, shown below. The above stated question and five items of the LCI Checklist – VIII facilitate the academic inventor and entrepreneurs in following a coherent approach in reaching the information of requisite key resources.