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This lecture focuses on the feasibility phase of the technology innovation process, where the objective is to demonstrate the feasibility of a concept by testing prototypes, involving stakeholders, and refining the value proposition. It emphasizes the importance of constant interaction with stakeholders, testing specific aspects with rough prototypes, and validating the value proposition through focus groups and user feedback. The lecture also discusses testing the product value chain, updating impact metrics, and developing a communication strategy to attract partners and funding.