MVP vs. prototype: choosing the best development approach

Purrweb16 Dec, 2021Technology

Startup Genome has compiled some depressing statistics: 9 out of 10 startups fail. The reasons are different: not enough money, amateurs on the team, a wrong-headed approach to developing the idea. The money factor and cadre problems are obvious enough, but the approach takes more finesse. The choice here will determine how much money and what kind of team will be needed. There is some confusion about terms, too. Some call the first version of a product MVP, others a prototype or MVP prototype . Here we are going to clear up this messy business, explain the difference between MVP and prototypes, what kinds of prototypes exist and the purpose of MVP development for startups.