What is an MVP?
MVP stands for Minimum Viable Product. It is a product or service that has just enough features and functionality to satisfy early adopters and gain feedback for future development. The goal of an MVP is to test a business idea with minimal investment of time and resources while gathering valuable feedback from early adopters.
Join the Startup Program
Join our growing community and accelerate your scaleup with up to €100,000 of free cloud credits and 1-on-1 engineering time.
Definition of an MVP
The concept of an MVP is widely used in the startup world as a way to validate business ideas before investing heavily in development. By building an MVP, entrepreneurs can quickly test the market and identify potential problems with their product or service. They can then use this feedback to make improvements and iterate on their concept, leading to a more successful product in the long run.
An MVP can take many forms, depending on the industry and product or service being offered. It could be a basic website, a prototype of a physical product, or a simple app with limited features. The key is that it offers enough value to customers to get them interested and provide feedback, without investing too much time or resources into a fully-featured product that may not meet their needs.
OVHcloud startups
I love startups, I love their pace, having an idea in the morning and having it up and running by the end of the day. Startups are innovation, and I love innovation.
Octave Klaba, OVHcloud Founder & Entrepreneur at heart of OVHcloud
How does an MVP fit into the startup development stages?
An MVP is typically created during the Seed Stage of a startup's development, which is the second stage of the startup development process. The purpose of the MVP is to help entrepreneurs test their business ideas with real users before investing heavily in the development of a fully-featured product.
Once an entrepreneur has an idea for a product or service, they will typically start by conducting market research to determine if there is a need for their solution. Once they have validated their idea, they will move on to the Seed Stage, where they will start developing a basic prototype or MVP.
The MVP is designed to be a functional product or service that can be launched quickly and with minimal resources. It should have just enough features to satisfy early adopters and gather feedback for future development. Once the MVP is launched, the startup can collect data on user behavior and feedback to iterate and improve the product. At this stage you are also ready to engage with the OVHcloud Startup Program to build your MVP on the cloud and benefit from the flexibility and scalability of cloud computing as you grow.
Once the MVP has been tested and refined based on user feedback, the startup will move on to the Early Stage of development, where they will focus on customer acquisition and establishing product-market fit. From there, the startup will progress through the Growth Stage, Expansion Stage, and Scaleup Stage, as they continue to scale their operations and establish themselves in the market.
Case studies
Development stages from a startup to a scaleup
The stages of development from a startup to a scaleup can vary depending on the industry, business model, and other factors. However, there are some general stages that most startups go through on their journey to becoming a successful scaleup:
- Idea/Concept Stage: This is the initial stage where an entrepreneur comes up with a business idea or concept.
- Seed Stage: In Seed Stage, the entrepreneur starts to work on the business idea, creating a prototype or an MVP. This stage often involves fundraising from angel investors or venture capitalists.
- Early Stage: At Early Stage, the startup has a viable product or service and is starting to generate revenue. The focus is on customer acquisition and establishing product-market fit.
- Growth Stage: In the growth stage, the startup has a solid customer base and is scaling its operations. This stage may involve expanding into new markets, developing new products, and hiring additional staff. At this stage a startup would be classified as a scaleup. A typical scaleup would be Series-A funded or beyond.
- Expansion Stage: In Expansion Stage, the startup is rapidly expanding and entering new markets. The focus is on building a sustainable business model and optimizing operations for growth.
- Scaleup Stage: At Scaleup Stage, the startup has become a successful and established business, with a strong market position and a proven business model. The focus is on scaling the business further and maintaining its position in the market.
These stages are not always linear and may overlap or happen in a different order, depending on the startup's unique circumstances.