Expert Talk on Process of Innovation Development

On 20th January, 2023 an “Expert Talk on Process of Innovation Development” was organized by Entrepreneurship Development Cell & Institution’s Innovation Council in association with the Department of Mechanical Engineering from 01:30 pm to 04.30 pm. Mr.S.M.Sunder Rajan, AP/Mech, Francis Xavier Engineering College, Tirunelveli was the resource person. Dr.R.K.A.Bhalaji, AP/Mech coordinated the program.

The resource person explained the concept of innovation and the process of development. He said that innovation is the one of the most over used words in business world and it describes everything from incremental improvements in technology to revolutionary changes that impact society. Simply he told innovation is the glue between invention and investment. As on 2022, 2,50,000 + ‘innovation’ books on Amazon.com and 20 million + ‘innovation’ search results from google. After that resource person discussed about the process of innovation development such as ideas and solutions, business proposition, business feasibility and business plan. He clearly explained the key elements regarding every innovation process with suitable examples such as ideas and solutions, business preposition, business feasibility from industry, market and company domain and business plan. Finally he concluded the talk with suitable quotes for innovation “It is the transformation of knowledge into money”.