Idea to Business: A journey of Entrepreneurship

On 1.10.2024 a session "Idea to Business: A Journey of Entrepreneurship" was organized by the Entrepreneurship Development Cell and IIC in association with the Department of Electrical and Electronics Engineering. The session was handled by Mr. A. Anand, Assistant Professor, Department of Electrical and Electronics Engineering, Francis Xavier Engineering College from 01.30 PM – 4.30 PM. 44 students and 2 faculties participated. This event was coordinated by Mrs. M. Mary Sumitha AP/EEE. This event was conducted with the guidance of Dr. Lourdes Poobala Rayen, EDC Director.

The program started with the welcome address and the introduction of the guest speaker by Mrs. M. Mary Sumitha, Assistant Professor, Electrical and Electronics Engineering, Francis Xavier Engineering College. The resource person, explained that entrepreneurship is often seen as a thrilling and challenging endeavour that requires a unique blend of passion, creativity, and perseverance. He encouraged students to transform an idea into a viable and sustainable business. He discussed that while the path from idea to enterprise is filled with uncertainty and obstacles, it also offers tremendous opportunities for growth and success. He talked about inspiration and idea generation, explaining that ideas can come from personal experiences, market gaps, technological advancements, or a desire to solve specific problems. Successful entrepreneurs often possess the ability to identify opportunities where others see challenges. He also highlighted the need for research and validation, which involves understanding the target market, analyzing competitors, and assessing the feasibility of the business concept.

He discussed the importance outlining the target market, competitive advantage, and revenue model. Regarding execution and implementation, he addressed the need for setting up the necessary infrastructure, acquiring resources, building a team, and initiating marketing and sales efforts. Additionally, he talked about the importance of building a strong team, scaling plans, and conducting risk assessments. He emphasized having faith in oneself and one's goals, as clear goals help achieve dreams.

The session greatly benefited all the young innovators planning their businesses, boosting their motivation to the next level. The participants asked various questions during the session, further enhancing their understanding and motivation.