Converting Innovation into a Startup

On 10.12.2024 a session on “Converting Innovation into a Startup” was organized by the Entrepreneurship Development Cell and IIC in association with the Department of AI&DS. This session was handled by Mrs.S.Mohanapriya AP/AI&DS , Francis Xavier Engineering College. Fifty students from first year AI&DS-B and faculties of AI&DS department participated in the program. The program was coordinated by Mrs.P.Sooriabrabha, Assistant Professor, Department of AI&DS from 1.30PM – 4.00PM.

The program started with the introduction of guest speaker Mrs.S.Mohana Priya AP/AI&DS ,FXEC by Mrs.P.Sooriabrabha. During this session the guest speaker discussed about converting innovation into a startup involves transforming a novel idea or breakthrough technology into a viable business model. She said that this process begins with identifying a market need or problem that the innovation addresses, followed by validating the concept through customer feedback, prototyping, and market testing. Entrepreneurs must develop a business plan, outlining key aspects such as target audience, value proposition, revenue model, and go-to-market strategy. Securing initial funding often through venture capital, angel investors, or crowdfunding becomes crucial for scaling operations. Establishing a capable team, protecting intellectual property, and building a brand identity are also essential steps. The startup must remain agile, adapting to market feedback and pivoting when necessary, to successfully scale and achieve long-term growth. Ultimately, the ability to continuously innovate while executing effectively differentiates a startup from competitors in the dynamic market landscape. Students interacted with the guest speaker and gathered lot of information regarding the conversion of innovation into startup. At the end of the session feedback was collected from the participants.