When it comes to running a tech startup, the leaders and teams within often have incredible ideas that could result in major success. However, having an idea is not enough– that idea must translate into a product that works for the businesses and that users actually want. This product would be considered the minimum viable product, or MVP.
Startup founders looking to release their digital product idea into the market must do so in the form of a minimum viable product. Most of them rely on their tech partners to take care of this important aspect, but since it can be a bit tricky, it is always a good idea to ensure that you outsource your MVP development to a company that can really help you get the ball rolling.
In this guide, we’ll break down what tech startup leaders need to know about when looking for an MVP development company, as well as a few agencies worth looking into.
What is an MVP in Tech?
A minimal viable product (MVP) is a development strategy that involves creating a new product or website with only enough functionality to satisfy early users. Only after incorporating feedback from the product’s early consumers is the final, comprehensive set of features planned and built.An MVP comes to help you validate your idea early in theprocess of product development. In the case ofAgile Development, it should help your product team validate and iterate your product based on input.MVPs include things like product demos, crowdfunding initiatives, and landing sites. In other circumstances, the MVP might be a patchwork of current technologies to demonstrate viability before becoming a new tool or program. Having an MVP, as well as a minimum viable product strategy for startups is vital.A minimal viable product has three basic characteristics:
- It is valuable enough that people are willing to use or purchase it at first.
- It exhibits enough long-term value to keep early adopters.
- It creates a feedback loop that may be used to influence future growth.
An MVP’s development team will be concerned with the feature prioritization of a digital product, looking to not waste time on anything above the basic minimum, instead assessing the customers’ needs and preferences as they use the product and building every other feature over time. Such MVP development companies or teams can also be outsourced. This tutorial will deconstruct several significant MVP players worth considering as a tech startup.
Why should you consider MVP Development for your startup?
There are so many reasons why you should consider an MVP development firm, or MVP development in general, as a tech startup leader. The benefits of MVP development include the following:
- A minimum viable product will help your team focus more on core functionalities rather than concepts.
- Your strategy development approach will benefit from a minimum viable product.
- It’s difficult to devise a strategy. It will be simplified with a minimum viable product, ensuring your startup’s long-term success.
- It’s easier to clarify your vision or idea via MVP development.
- Research won’t provide you a long-term growth strategy without client input.
- Your plan will be hampered if you sacrifice the Minimum Viable Solution in favor of a feature-rich product.
- You can gain a better understanding of your customer, client, and market needs.
What should you look for in an MVP Development Company?
Not all MVP development firms are equally lucrative. There are a few things to consider when looking into firms to hire. Consider these factors when searching for your MVP development team of choice:
- Top-notch reviews, testimonials, and ratings of the company online. An MVP development company with an excellent reputation is worth considering.
- A lean website that showcases the firm’s talent.
- Proof of experience working with startups in a similar market as your startup. For example, if your startup is involved in healthcare app development, your MVP firm of choice should also have a history working in this niche.
- A willingness to sign a non-disclosure agreement on behalf of your startup to keep your project safe.
What are the approximate costs of MVP Development?
MVP development costs can vary quite a bit. Let’s consider MVP costs in the context of tech. Despite the fact that it is sometimes referred to as an “initial version” of a product, outsourced MVP prices are comparable to that of a standard mobile app.
On average, they cost between $17,000 and $55,000. When it comes to MVP development expenses, each company or expert will offer you a different estimate. The estimates will change even if you describe your project in the same way.
This occurs because the cost of MVP software and development is determined by a number of variables. The scope of design and development, tech stacks required, the type or size of team required, and hourly pay rates are the most critical considerations.
8 MVP Development Companies worth watching
Team size: Over 150 employees
Date established: 2018
Key clients: Grundfos, BP, Lautec,
For the past decade, at RebelDot we’ve been interacting with an impressive number of entrepreneurs looking to bring innovation to their sector. We’ve met established businesses looking to grow through digital transformation, enthusiast startup founders at the beginning of their career investing all their time and money into building a digital product, as well as serial entrepreneurs already accustomed to the startup scene, trying to make their way through the competitive world of technology startups.
We’ve launched a series of successful MVP’s for founders looking to develop telemedicine apps, fintech, power and gas apps, daily progress reporting apps, livestreaming apps and even blockchain, launching a sustainable NFT marketplace which we’re yet to discuss about.
The clients that chose to collaborate with us on MVP development do it to achieve faster time-to-market and allocate budget wisely into creating a product that users enjoy using. This happened due to working iteratively based on the constant feedback acquired from the marked which helped us articulate a visually-appealing product that met the needs of both users and businesses.
By default, most of the web and mobile applications that we develop integrate the MVP development stage within the development process, as this is something that our designers, engineers and product strategists strongly recommend. Still, as an agile partner we can always adapt to our clients specific requirements and only develop an MVP or sometimes skip this stage and jump straight to the 1.0 version of your digital product.
Team size: 11-50 employees
Date established: 2014
Key clients: AwayBack, FormAssist
Intelivita is a software development firm that specializes in creating effective MVPs for companies. It works with a variety of technologies, including machine learning, augmented reality/virtual reality, and blockchain. Intelivita can produce a variety of software for you, including mobile apps, mobile games, web apps, and more. If you’re looking for an MVP development team that can offer additional bells and whistles, this is the company to look into.
3. Classic Informatics
Team size: Over 150 employees
Date established: 2002
Key clients: Condexo, MarketMeter
For startups and companies, Classic Informatics provides unique software development and scalable digital solutions. The firm also provides digital commerce solutions for the creation of online storefronts. It also provides content management systems, inbound marketing solutions, and MVP development. To offer high-quality products, the firm uses a variety of technologies and platforms. eCommerce tech startups could benefit from working with this firm.
Team size: Over 30 employees
Date established: 2019
Key clients: Finxflo, SecureFlag
Northell is a small firm with a small staff of highly qualified employees. They create, grow, and sustain both b2b and b2c businesses. They specialize in creating MVP products that help businesses expand faster. Product design and web development are their primary areas of competence. Northell’s product development strategy focuses on producing scalable products that meet corporate needs. They keep track of the product’s dynamics and watch its progress to guarantee that it is constantly delivering beneficial outcomes. The firm is also ranked in the top 20 on Clutch and the top four on Manifest, indicating that they’ve had positive outcomes. Despite its small size and youth compared to more established MVP companies on this list, Northell has proven to be a successful MVP firm worth considering.
5. FATbit Technologies
Team size: 51-200 employees
Date established: 2004
Key clients: Gearflow, Superlivery
FATbit Technologies is an MVP development firm that helps budding entrepreneurs validate their internet business concepts. FATbit, with its rapid development methodology, is a trusted partner for businesses looking to enter the eCommerce market. It has developed eCommerce MVPs for a variety of areas, including real estate, ridesharing, food delivery, education, and so on. If you’re looking for a trusted, tried, and true MVP firm, this is the one.
Team size: Over 50 employees
Date established: 2010
Key clients: DXRX, Printique
Digiteum is a company that creates MVPs. It provides web, mobile, and Internet of Things (IoT) development services. They also include AI and chatbots into their software solutions. They use a diverse set of technologies in their initiatives. The firm guarantees on-time project completion by starting early and responding quickly to any adjustments that may be necessary. Clients from all around the world use the services of the organization.
Location: United States
Team size: Over 50 employees
Date established: 2008
Key clients: Element Designs, WhooCan
Confianz provides SMBs with cost-effective and scalable products. It provides clients with end-to-end comprehensive solutions. The company creates Android and iOS mobile apps, as well as provides web development and ERP solutions to businesses. Confianz has a global clientele of more than 50 nations.
8. UIG Studio
Team size: 11-50 employees
Date established: 2013
Key clients: Audiobook, Printbox
UIG Studio is an MVP development firm based in the United States that champions and develops software solutions for a variety of organizations. Along with MVP, the UIG Studio team is also skilled in prototyping. Mobile app development, web development, and GIS software creation are some of the other services it offers.
🚀Ready tostart working on your own MVP?Get in touch and let’s explore your product idea together!
What is MVP approach to product development? ›
Minimum viable product approach in product development
The MVP approach is based on the premise that you can provide sufficient customer value by delivering minimal features that early adopters will use. You can then collect feedback that will enable you to build a better product that will resonate with future users.
- Conduct Market Research.
- Conduct Customer Research.
- Create A Product Roadmap.
- Conduct User Testing.
- Create A Product Landing Page.
An MVP is a product with only the essential features. A few examples will be: A bare-minimum version of an online food ordering app that only lets you select and order dishes from restaurants.What is MVP product launch? ›
Definition: Minimum Viable Product or MVP is a development technique in which a new product is introduced in the market with basic features, but enough to get the attention of the consumers. The final product is released in the market only after getting sufficient feedback from the product's initial users.How can I launch my product? ›
- Define Your Target Audience and know how to reach them. ...
- Know The Problem You're Solving. ...
- Understand The Buying Journey. ...
- Secure Your Online Identity. ...
- Validate Your Product. ...
- Know Your Competition And Be Different. ...
- Lay Out A Comprehensive Strategic Plan. ...
- Create Brand Voice Guidelines.
A minimum viable product (MVP) is the release of a new product (or a major new feature) that is used to validate customer needs and demands prior to developing a more fully featured product.How do I write an MVP statement? ›
- Identify and Understand The Business Needs. a) Determine the long-term goal of the product and write it down. b) Answer the question “Why are we doing this project?” ...
- Find The Opportunities. a) Map out the user journey(s) Identify the users (actors) ...
- Decide What Features To Build.
So, the key characteristics of a successful MVP will be: It is small in scale, fast and cheap. It doesn't create too much negative impact when you release the half-baked idea into the market to see how it behaves. It is designed to gauge whether a product is viable at a larger scale.What is MVP in business examples? ›
A minimum viable product, or MVP, is a product with enough features to attract early-adopter customers and validate a product idea early in the product development cycle. In industries such as software, the MVP can help the product team receive user feedback as quickly as possible to iterate and improve the product.What is the goal of an MVP? ›
The goals of an MVP are to validate the premise of a product, to test hypotheses about market needs, to make adjustments to the product vision, and to prioritize where to invest in future development. As such, MVPs are a profoundly powerful approach towards finding product-market fit.
How long does it take to develop MVP? ›
How long should it take to build an MVP? MVP building process usually takes from 3 to 4 months. Of course, everything depends on the features set, design complexity, and human resources who are engaged in the process.What do you think the most important part of an MVP minimum viable product is? ›
The primary goal of the MVP is to always minimize time and effort wasted by testing how the market reacts to your idea before building the complete product. Validate product idea hypotheses with real-life data. Reduce time-to-market for new feature releases. Deliver value to your early adopters quickly.What is MVP roadmap? ›
What is a minimum viable product (MVP) roadmap? A minimum viable product (MVP) roadmap is a tool that startups and businesses can use to determine what features or products to release to validate their business idea with the least amount of resources and time.What MVP means? ›
abbreviation for most valuable player: an award given to a sports player who is judged most important to the sport, team, or game; the player who receives such an award: He was named the league's MVP two years in a row. Aly Wagner's goal gave the Broncos the title and her the offensive MVP award.What are the benefits of launching a MVP before the final product? ›
The biggest benefit of developing an MVP is that it allows you to test your business concepts. By offering the core set of features rather than a full-blown, feature-heavy product, you can verify that your product concept resonates with your target audience.Why is MVP important for startups? ›
An MVP helps to reduce risks and save your time, money and efforts; It also brings early customers to your app whose feedbacks are necessary to create the best user experience; With an MVP you have better chances to be noticed by investors.What is MVP mindset? ›
A Mentally Versatile Performance Mindset is the key to unlocking your true potential. Being mentally versatile, or having the ability to adapt and adjust to many different situations, is crucial in the fast-paced world of performance.How do you measure success of MVP? ›
It is calculated as the number of customers lost per month divided by the number of users at the start of that month. User ratings can provide very helpful input on what customers think about your product. Be aware that at the outset many downloads may be one-time users only.What are the four types of MVPS? ›
Let's begin by looking at four different types of MVP: Concierge MVP. Wizard of Oz MVP. Landing Page MVP.What makes a successful product launch? ›
It usually requires several elements coming together to create a successful product launch. You need the right product, the right market, the right positioning and the right timing for success.
How do you successfully launch a product online? ›
- Determine the market need for your product. ...
- Set up a timeline for the launch. ...
- Collect user-generated content with sampling. ...
- Tell your story in a creative, appropriate way. ...
- Generate buzz on social media. ...
- Partner with influencers.
Using the MVP (minimum viable product) method in project management can help teams get a functioning product into customers' hands without getting stuck in the minutia of “what ifs” and “what don't we know?” According to Eric Ries, author of “The Lean Startup,” the minimal viable product approach lets teams and ...What does MVP mean in app development? ›
MVP, or minimum viable product, is a bare-bones version of your app that contains only the essential features. That means it's relatively inexpensive and quick to put together. It's a popular approach that many big-name apps had used when they started, from Spotify to Instagram.What are types of minimum viable products? ›
- The fake door MVP.
- Landing page MVP.
- Email campaign MVP.
- Marketing campaign MVP.
- Pre-order MVP.
- Single-feature App MVP.
- Piecemeal MVP.
- Concierge MVP.
The MVP, or Minimum Viable Product, is basic to the practice of Agile. And it's also something that generates resistance. We've heard our clients say things like, “Our execs don't want the minimum—they want the best quality possible.” Indeed, why wouldn't you want to do your best?What kind of benefits is provided under MPV? ›
MPVs do offer more seating and the overall cabin ambiance is enhanced by the bigger glass area, more storage spaces, and more practical features. MPVs are also associated with more comfort due to the available space. One can easily carry a whole family of 5 people with luggage in an MPV.How much does it cost to develop an MVP? ›
Roughly, the MVP development cost can range from $15,000 to $150,000 or more, depending on various factors. Understanding each entailing factor in detail can help you arrive at a cost estimate required for your MVP project.What happens after an MVP? ›
The next stage after MVP is MMP (minimum marketable product). MMP is sometimes called MMR (minimum marketable release) but the terms are fairly similar really. While an MVP helps you better grasp customer needs, the MMP helps you figure out if the idea is worth progressing further.What is MVP approach in agile? ›
MVP (Minimum Viable Product), the Core of the Agile Methodology. An MVP is a concept from agile scrum that refers to a product that has just enough features to satisfy the needs of early customers and, more importantly, give them something to provide feedback on to shape the future of the product.What does MVP mean in project planning? ›
Using the MVP (minimum viable product) method in project management can help teams get a functioning product into customers' hands without getting stuck in the minutia of “what ifs” and “what don't we know?” According to Eric Ries, author of “The Lean Startup,” the minimal viable product approach lets teams and ...
What is MVP in product marketing? ›
A minimum viable product (MVP) is the release of a new product (or a major new feature) that is used to validate customer needs and demands prior to developing a more fully featured product. To reduce development time and effort, an MVP includes only the minimum capabilities required to be a viable customer solution.What are the stages of MVP? ›
- Step 1: Market research. ...
- Step 2: Understand the value to users. ...
- Step 3: Prioritize the features to include. ...
- Step 4: Build the MVP. ...
- Step 5: Collect and analyze the feedback.
The MVP is analogous to experimentation in the scientific method applied in the context of validating business hypotheses. It is utilized so that prospective entrepreneurs would know whether a given business idea would actually be viable and profitable by testing the assumptions behind a product or business idea.What makes a good MVP? ›
So, the key characteristics of a successful MVP will be: It is small in scale, fast and cheap. It doesn't create too much negative impact when you release the half-baked idea into the market to see how it behaves.Why is MVP important? ›
An MVP will test the product's potential for this through app engagement, longevity and lifetime value. With a Minimum Viable Product, you can gather data and insights on how users interact with your product to assess how quickly they understand its purpose and flow.What are the factors to consider in making MVP explain each? ›
A MVP is the the most pared down version of a product that can still be released and has three key characteristics: Enough value that people are willing to use it or buy it initially. Demonstrates enough future benefit to retain early adopters. Provides a feedback loop to guide future development.What is MVP business value? ›
Doing the Most Valuable Minimum
The MVP is an investment in something. The anticipated business value should be defined to guide the product roadmap, measure success, and provide guardrails for feature development. The optimization of business value is a critical outcome of any product that starts with an MVP.
How long should it take to build an MVP? MVP building process usually takes from 3 to 4 months. Of course, everything depends on the features set, design complexity, and human resources who are engaged in the process.What to do after MVP launch? ›
The next stage after MVP is MMP (minimum marketable product). MMP is sometimes called MMR (minimum marketable release) but the terms are fairly similar really. While an MVP helps you better grasp customer needs, the MMP helps you figure out if the idea is worth progressing further.