Sessions on “Innovation / Prototype Validation” and “Achieving Value Proposition Fit & Business Fit”

Innovation is the process of turning a new concept into commercial success or widespread use and Invention is the creation of a new idea or concept. A prototype is an early sample, model, or release of a product built to test a concept or process. To provide insight on Innovation / Prototype IIPE, Department of Mechanical Engineering, Jansons Institute of Technology in association with JIT Institutions Innovation Council (JIT-IIC) organised a two days session on 13.08.2024 and 14.08.2024 for the Students of Jansons Institute of Technology. A total of 76 participants (74 Students and 02 faculties) actively involved in the session with the objective of “Converting Innovation into Start-up is to provide aspiring entrepreneurs and innovators with the necessary knowledge, insights, and strategies to transform their innovative ideas into viable and successful start-up ventures. The session also aims to guide participants through the process of idea validation, business model development, and market assessment, equipping them with practical tools to navigate the challenges of converting innovation into a tangible and sustainable business. The first session on Aug 13, 2024 was handled by Dr.V.P.Radha, Innovation Ambassador, JIT on the topic “Innovation / Prototype Validation”. The resource person provided a comprehensive overview of focus on innovation process, which is a set of steps between an idea’s conception and its implementation. It is a streamlined process that is managed in a way that reflects a company’s structure and innovation goals. The second session was handled by Dr.N.Srinivasan, Innovation Ambassador, JIT on the topic “Innovation / Prototype Validation”. The resource person elaborated on prototype, which is generally used to evaluate a new design to enhance precision by system analysts and users. Prototyping serves to provide specifications for a real, working system rather than a theoretical one. In some design workflow models, creating a prototype is the step between the formalization and the evaluation of an idea. The third session on “Converting Innovation into a Start-up” was handled by Hon.Dr.K.Ramesh M.E.,AMIE, Lions Clubs of Coimbatore Entrepreneurs on Aug 14, 2024. The startup session focuses on empower participants with the knowledge, skills, and resources needed to turn their innovation into a successful and sustainable Start-up that can make a positive impact in the market and drive entrepreneurial growth. The final Session on “Achieving Value Proposition Fit & Business Fit” was handled by Prof.R.Savitha, Innovation Ambassador, JIT. The resource person highlighted on Value Proposition ,  Value Proposition Canvas  , Who is your customer, and what is their problem? , What is your solution to their problem? , How do you solve that problem in a way that creates proven value for you and the customer?  were elaborated to the participants. Participants clarify their doubts and shared their thoughts related to the topic during the sessions. Participants felt the session was useful and understood various Start-up’s, how to analyze their ideas of innovation and how to convert it into a Start-Up and various procedures involved in validating prototype.