Startup words, jargon and slang, business english

What is an MVP?

A Minimum Viable Product is the very first version of a company’s product, focusing only on the core features. It’s one of the main elements of lean methodology.

Why would someone have an MVP?

  • It makes it easy to test risky ideas
  • You can avoid spending too many resources on further development if the idea fails
  • Beta users and early adopters can start using the product
  • In priced rounds, it can be introduced as a tangible product version to investors

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