At LimeChain, we believe in efficiency, thus often recommend building MVPs or even PoC instead of a full-fledged product from day one. We’ve been involved in 50+ projects as a development or a consulting partner and understand the process from A to Z. In case you are still in the process of project ideation and need technical consultancy, you can check our approach towards product discovery and ideation here.
What’s a PoC?
A Proof of Concept is a project aimed to validate or invalidate the feasibility of a proposed solution. It’s done in a completely controlled environment, with dummy data being used more often than not. It’s a great way for enterprises to experiment with emerging technology, before implementing it into real-time market conditions.
Benefits of a PoC
– Validating an idea in a safe environment (dummy data)
– Easy to develop and could be scaled to production
– Resource-efficient way to develop corporate innovation
What’s an MVP?
A minimum viable product (MVP) is the leanest of products that could be built to solve a particular problem, or in some cases, barely indicate users’ interest in the product. It usually boasts only the most vital of features and is used to find a problem/solution and product/market fit.
Benefits of an MVP
– A great way for startups to get to market fast
– Easier to develop than a full-fledged product
– Could be scaled with additional features going forward
– Resource-efficient way of testing a startup idea