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Abstract
Digital world and the advanced learners have created a great demand for innovations and creativity in the institutions of learning formally called colleges. The teachers now called as mentors and facilitators have to be on their toes with constant use of grey cells. Colleges have to work as incubation centers to channelize the young energies in creating something new that are easily accepted by the society making them entrepreneurs’ in the long run. The higher authorities have to keep themselves alert so that the innovative minds are not suppressed with the routine duties and their intellect can be enhanced with the facilities and the atmosphere provided for their solid output. This paper is an attempt to bring out the challenges of innovation management in the higher education institutes and ends up with the strategies suggested to solve the same. If tapped at the right time and in the positive manner, these innovations can create a win-win situation for the institute, the students and the innovator themselves.