How do you name your product/company?

Hey, First time here so bear with me please.

I'm starting to work on my bachelor's degree final project, which will be an Android app and a web service for that app. I don't know how this works in other places, but at my university each student has to come up with an idea for the project and then submit a formal application containing personal information and the project's title.

I had a really hard time finding the proper name for my idea and I finally went for a random name to be used as working title. My hopes for this project is to evolve into a start-up at one point and I know the title/name is very important.

So, how did you come up with those names?