Industry Interaction Meeting

On 09.10.2023 an Expert Talk on "Industry Interaction Meeting" was organized by the Entrepreneurship Development Cell and IIC in association with the Department of Artificial Intelligence and Data Science. The Session was handled by Ayerajothi R, Managing Partner at Stradegi, Singapore from 2.00 PM - 4.30 PM. 43 students from third year AI&DS and 2 faculties of ECE and AI&DS department participated. The program was coordinated by Mrs S Poonam, Assistant Professor /AI & DS, Francis Xavier Engineering College.

The speaker said to the students that primary objective of this program was to equip students with the knowledge and inspiration needed to develop innovative startup ideas that address industrial challenges. The speaker said that the identification of the problems faced by the industry should be given priority. He said Industry Analysis, Surveys and Interviews are the few methodologies to identify the problem in the industry. He said surveys and interviews should be conducted with industry professionals, including employees, managers, and experts to gather qualitative and quantitative data about the problems they encounter.

The resource person asked the students to conduct market research to assess the competitive landscape and to understand market gaps or areas with unmet needs to develop an innovative idea. He also highlighted few examples of key problems such as sustainability concerns, Market Fragmentation, Supply Chain Disruptions, Sustainability Concerns and Outdated Technology. He said many companies still rely on legacy systems and outdated technology, hindering operational efficiency and hindering their ability to adapt to market changes. The speaker said that the students from engineering back ground can start a new startup with newly updated technology in the place of outdated technology. The speaker concluded the session and said that process of industrial interaction and problem identification is a crucial step in the journey of starting a new startup. The findings from this interaction will serve as a foundation for addressing industry challenges and creating a business that offers innovative solutions. By strategically addressing these problems, the new startup can carve its path to success in the industry.