JSFiddle - React, Tailwind, and code Playground

HTML

<label for="">Enter Value</label>
<input type="text" id="product">

<select name="" id="platformid">
  <option value="0">Assay Value </option>
  <option value="1">STANDARDDEVIATION</option>
  <option value="2">ACCEPTABLEMIN</option>
  <option value="3">ACCEPTABLEMAX</option>
  <option value="4">Date</option>
</select>

JavaScript

$("#product").on("change keyup paste", function(){ 
	var valuefound =''; 
  $("#platformid option").each(function(i){ 			        if($(this).text().substring(0, 2).toLowerCase()    ==$("#product").val().substring(0, 2).toLowerCase() ){ valuefound = 	 $(this).val(); } }); 
  $('option:selected', 'select[name="platformid"]').removeAttr('selected'); $('#platformid option[value="' + valuefound + '"]').prop('selected', true); })