The Institution’s Innovation Council in association with the Entrepreneurship Development Cell of Paavai Engineering College have organized a seminar on “Problem solution Fit and product market fit”on 30.01.2022 from 11.00 a.m. to 12.00 p.m. Mr.Narendran, Managing Director of Lights Inc, TamilNadu, India was the resource speaker.
The online seminar started with the welcome address by K.Aishwaraya from third year ECE, Paavai Engineering College. Dr.K.SundaraMurthy, Vice President of IIC, Professor of Mechanical Principal gave the presidential address. In his address, he emphasized the need of attending such programmes.
The session continued with the resource speaker talk. He first explained about the Start-ups. Then, he explained the key characteristics of a startup. Followed with that, he questioned the students regarding their ideas and asked them to classify it under “Problem solution Fit and product market fit”. He then elucidated the different steps involved in Problem solution fit such as knowing the problem of the customer, alternative solution for the customer, Build-Measure-Learn cycle. He also explained the different measures for problems to be fit such as customer segments, limitations, problem root, triggers to act, and emotions. He described about the top ten start-up mistakes. He then gave a clarity on Product-market fit and the procedures to create minimum viable product. He ended with the explanation of the differences between Problem solution fit and product market fit. Finally the vote of thanks was given by Dr.R.Mohana Priya, Convener of IIC. Dr.K.Sundara Murthy, Vice President of IIC, Professor of Mechanical, Dr.P.Pugalenthi EDC Co-coordinator and event organiser along with faculty members, and around215participants were present in the online seminar session.