Define Minimally Viable Product (MVP)

Why is this Important? The MVP is the simplest version of your product that can be used to iterate on your assumptions. It is the most basic version of the solution you are proposing.

Key Actions	Things to Consider	Tool Kit
Determine the simplest product that will be commercial viable	The MVP should solve the unmet need and be capable of generating easy to understand evidence of this Do not overly complicate the product at this point – an overly complex product can: Extend the development time Increase the technical risk Increase manufacturing cost Make it more difficult to get regulatory approval Increase the cost and time to get a product to market Try to get a product to market as fast and inexpensively as possible
Make sure your provisional patents cover the MVP

Key Actions

Things to Consider

Tool Kit

Determine the simplest product that will be commercial viable

The MVP should solve the unmet need and be capable of generating easy to understand evidence of this

Do not overly complicate the product at this point – an overly complex product can:

Extend the development time
Increase the technical risk
Increase manufacturing cost
Make it more difficult to get regulatory approval
Increase the cost and time to get a product to market

Try to get a product to market as fast and inexpensively as possible

Make sure your provisional patents cover the MVP

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