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Webinar on “Lean Start-up & Minimum Viable Product/Business”
Organizers |
Faculty of Computer Applications |
Participants |
120 |
Contact No. |
|
Start Date |
28/08/2024 01:00 PM |
End Date |
28/08/2024 03:00 PM |
Venue |
Hybrid (Online + A.M.Patel institute of Computer Studies, Ganpat University) |
Social Media Share |
Description
Under Ganpat University ACM Student Chapter organized the webinar on “Lean Start-up & Minimum Viable Product/Business” on 28th August,2024. The objective of the webinar on "Lean Start-up & Minimum Viable Product/Business" is to educate participants on the lean start-up methodology and the concept of a Minimum Viable Product (MVP), providing them with insights to efficiently develop, validate, and scale business ideas with minimal resources. The session aims to empower entrepreneurs and business professionals to minimize risks, reduce costs, and foster innovation by focusing on rapid prototyping, customer feedback, and iterative improvement, ultimately helping them to launch successful and sustainable ventures.
The webinar started with 1:00 PM with with brief introduction of Convenor of workshop Dr. Meghna Patel Associate Dean of Research (FCA), GUNI. Dr. Meghna Patel has introduced the speaker Dr. Saurabh Dave (Pro-VC, Executive Dean-Startup, GUNI). The speaker Dr. Saurabh Dave has started the session with Introduction of startup, then discuss about What is Lean Startup, Different stages of startup, Key Principle of startup, What is a Minimum Viable Product (MVP)?, Purpose of MVP, Applications of MVP, Product Validation, Advantages and Challenges of Lean Start-up & MVP, Steps to learn Lean Startup, How to provide funding etc.
In conclusion, the student and faculties will get the knowledge about the Lean Start-up methodology is a strategic approach to building businesses that emphasizes iterative development, customer feedback, and resource efficiency. Start-ups typically progress through various stages, from ideation to scaling, with key principles such as validated learning, build-measure-learn cycles, and pivoting guiding their journey. The Minimum Viable Product (MVP) is a crucial element of this approach, serving as the simplest version of a product that can be released to test hypotheses and gather early user feedback. The purpose of an MVP is to validate the product idea in the market, minimizing risks and guiding further development. While Lean Start-up and MVPs offer significant advantages such as cost efficiency and faster time-to-market, they alsocome with challenges like managing uncertainty and balancing speed with quality. Learning Lean Start-up involves understanding these principles, applying them through real-world practice, and seeking mentorship. Securing funding for a lean start-up often requires demonstrating traction and validated learning to potential investors, showing that the business is grounded in solid, customer-driven insights.
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