Design thinking represents a specific way of solving problems through a predefined process, using methods, techniques and tools focused on user needs. This approach enables innovative problem solving by identifying latent user needs. In today's era of rapid changes caused by technological progress, innovation stands out as the key to overcoming many challenges, and the foundation for innovation lies in the freedom of creative thinking. It is of great importance to encourage creativity in the early stages of education among children. The stimulating environment at universities plays a significant role in the development of innovation and entrepreneurship, and one of the key issues of this paper is the role of the University North in creating such a contribution. The aim of this paper is to show the impact of learning the Design thinking process on the development of an innovative project at the University North, using as an example the project FunINO - Festival of Innovative Ideas. This project was designed by graduate students in Business Economics, majoring in Digital Economy and Innovation, with the aim of connecting students from different majors, students and professors, as well as successful entrepreneurs and potential investors. The festival provides a platform for mutual sharing of ideas and encouraging the development of innovations through interdisciplinary cooperation. The FunINO project, awarded the Rector's Award for the best student project in the academic year 2022/2023, went through all five phases of the Design Thinking process. This paper investigates the impact of the basic principles of this approach on the management and implementation of the project. At the same time, the research question posed by the paper is how the basic principles of the Design Thinking method influence the management of an innovative project. The subject of the research is the Design thinking process with an emphasis on the example of an innovative student project, FunINO - Festival of Innovative Ideas, launched at the University North.