Innovative Skill Sets for developing Technical Entrepreneurs

On 11.12.2024, a seminar on “Innovative Skill Sets for developing Technical Entrepreneurs” was organized by the Entrepreneurship Development Cell and IIC in association with the Department of MCA. The session was handled by Mr. Thanapaul, Founder, DMG, Tenkasi from 2.00 PM to 4.00 PM. 40 students and 2 faculties participated. This event was conducted with the guidance of Dr. Lourdes Poobala Rayen, EDC Director.

The program started with the welcome address by Mrs. D. Angeline Ranjithamani, HOD, Department of MCA, Francis Xavier Engineering College and introduced the speaker. The seminar began with an overview of rapid technological advancements and dynamic global markets, technical entrepreneurship as a crucial driver of innovation and economic growth. The speaker emphasizesed the blend of technical expertise, business acumen, and innovative thinking required to navigate the challenges of entrepreneurship in technology-driven industries. Speaker explained how the fusion of technology and entrepreneurship has created a new breed of leaders, technical entrepreneurs. Fusion of technology and entrepreneurship is a unique combination of innovative skill sets tailored to address the multi-faceted challenges of technical entrepreneurship. He also added that, technical entrepreneurs are pivotal in translating innovative ideas into viable products and services. Technical entrepreneurs must have in-depth knowledge of their domain to develop innovative solutions. He included key aspects like, Advanced Technical Knowledge, Prototyping and Development, and Understanding Emerging Technologies. He explained that entrepreneurs must possess the business skills to transform technical innovations into profitable ventures. Strategies like identifying market opportunities, budgeting, fundraising, and understanding financial metrics, building a brand, understanding customer needs, and executing sales strategies were also discussed.

The benefits of the seminar include, Critical Thinking helps in Analyzing situations and making data-driven decisions, adaptability to market changes and challenges and design thinking which employs user-centric approaches to innovate. The speaker also explained about networking and relationship building. In this aspect, he explained about Industry Networking which helps in participating in industry events and forums, partnership Development to establish strategic alliances and Investor Relations to Cultivate relationships with potential investors and stakeholders. He also added, entrepreneurship involves significant risks, requiring resilience and effective risk management skills. He also explained about, risk assessment, emotional intelligence, and perseverance. Speaker suggested the techniques to become a technical entrepreneur, which includes education and skill training through workshops, bootcamps and online courses. He also added practical experience is one important aspect to become a technical entrepreneur. Case studies of Elon Musk and Kiran Mazumdar- Shaw is also explained to students. Finally, he explained the challenges faced by the technical entrepreneurs like, funding constraints, balancing technical and business roles, and rapid technological changes. The interaction between the students and the guest speaker was highly motivating to all the participants. Session came to an end with the feedback of Students. The Program was organized by Dr. M.Vijaya Maheswari, EDC Co-Ordinator Assistant Professor, Department of MCA, Francis Xavier Engineering College.