Minimum Viable Product · Startups

How important is your MVP for fundraising?

Valeriia Timokhina Eastern Peak Software: Custom software development

September 23rd, 2016

What was your experience in building MVP and representing it to investors?
Recently we published an article on this topic: Creating an MVP that can get your startup funded
And how did you manage to get investors for your startup? Let's share our best practices!

Sam McAfee Building Popup Incubators for Corporate Innovation Programs

September 23rd, 2016

If you can get funded without an MVP that has traction, please share your secret. ;) It's pretty much the only thing these days.

The article is good, Valeriia. Thanks for sharing. Lots of good advice in there.

My only add-on is to work backwards from the P&L goals you want to show to investors (be it revenue, user, etc.) and back that into the feature priorities for the MVP.

And don't forget marketing (the scrappy kind, not media buys). You'll need to get those users with paid media at first most likely. Budget for it.

Rod Abbamonte Co Founder at STARTREK / @startupHunter / @startupWay / @CoFounderFound / @GOcapital / @startupClub / @lastminute

September 23rd, 2016

Valerila, it's fundamental validated your MVP to prove your audience performance, traction and monetisation. Without validade your MVP you have just an idea.

Ramesh

September 23rd, 2016

Hi Valeriia, making a MVP is very important when you are working with minimal resources, which is usually the case with startups. It helps you focus on what's most important in proving that their is a demand for the type of product/service you want to provide. Focusing your efforts on addressing the core needs of your target customers by making a minimum viable product will help you get the initial traction which is a proof of concept and a good validation for the investors.