You need to set the value for the "type" column using a client-side code and this.set method. This should be added to the "Owner" attribute modification handler method (the handler example was provided in this post for example).
As far as setting the value of the Type lookup, a lookup needs an object with two properties to display properly, (1) a value property (the Id of the lookup item) and (2) displayValue (the text of the lookup item). You'd set it like this: