Session on Lean Start-up

On 15th June, 2022 a “Session on Lean Start-up” was organized by Entrepreneurship Development Cell & Institution’s Innovation Council in association with the Department of Mechanical Engineering at 11:30 am to 12.30 pm. Dr.K.Koppiahraj, Researcher, Department of Mechanical Engineering, KARE was the resource person. The program was held via online mode. Dr.R.K.A.Bhalaji, AP/Mech introduced the speaker and gave welcome address.

The resource person explained the meaning of Lean Startup. He said that Lean startup is an approach to building new businesses based on the belief that entrepreneurs must investigate, experiment, test and iterate as they develop products. The concept of lean startup originated in the early 2000s and evolved into a methodology around 2010. “Lean” and “Lean Startup” are often used interchangeably. However, while one refers to an approach to manufacturing or production, the other is more focused on customers and users.

The speaker also explained the stages of lean startup such as Problem/solution fit stage, Product/market fit stage, Growth stage. He then also explained the difference between startup and lean startup. He said the Lean Startup Machine claimed to have created over 600 new startups this way. Prominent high-tech companies have begun to publicly employ the lean startup methodology, including Intuit, Dropbox, Wealthfront, Votizen, Aardvark, and Grockit. The students interacted freely with the guest speaker and gathered lot of information about lean startup. 30 students and 1 staff member participated in the program and befitted a lot.