Discussion on Innovation and Startup Ecosystem

On 19th July 2024, Entrepreneurship Development Cell and IIC in association with Department of Civil Engineering organized a “Discussion on Innovation and Startup Ecosystem”. The resource person for the program was Er.P. Ronaldo Sam, Managing Director, Ronaldo & Roy Construction, Palayamkottai, Tirunelveli. 55 Civil Engineering students and 2 faculty member attended the program. The session was coordinated by Mrs. P. Raja Priya, Assistant Professor, Department of civil engineering, FXEC.

The resource person explained the role of Innovation and Startup Ecosystem for early-stage entrepreneurs. He also explained the importance of innovation and its role in the small business ventures in early stage of entrepreneurship. Further, he added that the interdependence of 6 indispensable elements are the fundamental trait of any ecosystem; none of its components can exist without one another, all linked together in a symbiotic relationship. This interconnected system includes government initiatives, venture capitalists, angel investors, research organizations, higher educational institutions, and service providers to support the growth and success of new businesses. A well-functioning startup ecosystem is characterized by the presence of new startups, a strong community, and a balance of functions that continuously adapt to market disruptions, both in global and local markets. Startup ecosystems provide access to capital, talent, and resources, fostering innovation and entrepreneurship, and networking opportunities for connecting startups with customers and partners. The students asked many questions and it was answered by the resource person. The participants gave positive feedback about the session.