As a starting point, I can imagine four activities that make the space different in terms of what happens there (and that thus produce design requirements for us). Maybe we can express them in design thinking terms - this is my first stab at this:

ideation - groups work together to generate new ideas, observe/absorb things together (e.g., a presentation on a problem)
Requirements: talk in arbitrary size groups with white board, etc.; whole room brainstorm; post-its folks can see; facilitator leads conversation and elicits ideas; groups breakout and engage in interactive exercises to generate ideas or disrupt boundaries; multiple small groups reporting back re-assemble together as large group in middle of room; looking at evolving sketches together

prototyping - rapid and repeated; turning from analytical assessment of ideas to trying them out via tangible models. repeatedly.
Requirements: Able to step to the side of the room and grab some cardboard, build with some legos, sketches on whiteboard or newsprint; Sit down at laptop and do a quick wireframe in software; act something out (improv), sketch it, draft the script, etc. Important: material at hand, low threshold to getting started, room for big cardboard objects; easy to move furniture so I can mock up a doctor's office or a retail environment or a study space to try something out in.

critique/pitch/presentation - ideas and prototypes built into a thing we could do are shared with stakeholders
Requirements: audience gathers around in comfortable enough to sit and listen environment, presenters have space and acoustics and technology to show off their stuff, give and take; Maybe multiple pitches going on simultaneously; technology has to be very plug and play; tools that allow people to do polished hyper cool presentations; capacity to hang or display prototypes/posters/etc. around the room and have critics make the rounds offer feedback, etc.

hands-on workshopping - enough workspace that we can teach hands-on skills (how to actually do things).
Requirements: table top real estate; surfaces that are not too precious to hurt; storage space for raw materials; good light; seating ergonomic enough for focused work; can I set people up with electronics components? clay? pipe cleaners?

face-to-faces - imagine the "innovators on campus" series that's a mix of big public lectures and small "face to face" master classes with 10 to 20 participants
Requirements: comfortable around the table space that converts easily to lecture in front of group space. Reconfigurable to be formal enough and laid out so as to be conducive to different styles of presentations (including the more formal and the more informal); respect the speaker on the one side, foster intimate connection on the other.