Minimum Viable Product (MVP)

A new product development technique for startups, hi-tech products, web application, and others that became popular after 2008 with the posts from Eric Ries  – a famous startup entrepreneur and author of the book “The Lean Startup”.

MVP is providing an initial version or prototypes of a new product (service, experience) with a minimum set of features, aimed at a minimal target of possible customers who are known to grasp novelties even from an early prototype (early  adopters) and who are meant to provide feedback for further developments. The process of prototyping continues until the new product crystallizes and fits to the market based on the findings from feedback, learning and testing of the early versions.