Assessment of Minimum Viable Product Techniques: A Literature Review

Although the minimum viable product (MVP) concept provides a means to test ideas and hypothesis at early stages, it does not indicate that it is easy to build. MVP tests whether your idea solves a real problem that customers are willing to pay for. In order to reach the stage of building a product that people want to use and pay for, we need to make sure product passes certain tests. In turn, MVP techniques/methods are designed not only to test technical questions about the product, but also to assess the viability of business model hypothesis. Once the hypothesis that needs to be tested with MVP is determined, there are some methods that can be used to get reliable data from actual users and utilize it. In this article I do a comprehensive review of literature to figure out which methods and techniques are used in MVP. My goal is to identify range of methods while providing strengths and weaknesses of such methods. Finally, I conclude the research by providing some suggestions for future research

Helsinki Startup City Guide

This thesis is a product-oriented thesis. The aim of the thesis is to create valuable and quality content for the commissioning party, StartUs. The content is educational and takes form as a guide. The guide was done with the support of Haaga-Helia StartUp School. The theoretical framework consists of startup and content marketing theory, and is essential in providing the reader of this thesis the understanding of why the guide is important for the commissioning party and its target audience. Defining a startup can be tricky as there are several different definitions to what is a startup. In addition, not all startups are alike as there are multiple types of startups each of its own goals and definition of success. All of the startup types can benefit from incorporating lean startup methodologies. Some of the core principles of the lean startup methodology are Customer Development and the build-measure-learn loop both of which ultimately allow startups to avoid failing and creating a greater demand for their product or service through the understanding of the true needs of the customers. Nowadays, content marketing is imperative for a company in order to gain visibility and reach the right audience. In order to stand out from competitors and achieve the attention of consumers and fulfill the company’s business goals, relevant and valuable content must be produced and distributed. The product of this thesis is the Helsinki Startup City Guide. It is a practical guide for startup enthusiasts and everyone interested and considering to establish a startup company in Helsinki. The guide lists the most relevant information one must know about the startup ecosystem of Helsinki. This thesis and the product were produced within three weeks due to limited time constraints. Both the author and the commissioning parties are pleased with the end result of the product

Innovating Beyond the Fuzzy Front End: How to Use Reward-Based Crowdfunding to Co-create with Customers

Current research suggests that crowdfunding not only serves as an alternative source of capital but also as a flexible tool allowing start-ups to systematically integrate a crowd into their innovation processes. However, an adequate understanding of how start-ups can systematically leverage the co-creation potential of their early customers during crowdfunding is still nascent. Against this background, the aim of this research is to conceptualize and examine the concept of co-creation in the context of reward-based crowdfunding. In doing so, we distinguish it from other methods of user integration in the realm of open innovation and discuss how entrepreneurs can leverage reward-based crowdfunding to engage their customers in the development and deployment of their product and service offerings

Crowdfunding scientific research:a case study based on user research

Over the years, funding scientific projects have been the responsibility of traditional research funding institutions. Many projects were not getting funded due to the difficulties of accessing government funds. Crowdfunding has provided an alternative means of providing financial solutions to projects which ordinarily are not of interest to government funding agencies and other major funders of research. A crowdfunding platform is an internet-based matchmaker where the citizens (the funders) are matched with the researchers who are seeking funds to finance their projects. This paper investigates the users of a nascent crowdfunding channel for Social Sciences and Humanities. The users are the Social Sciences and Humanities researchers who seek financial support on scientific projects and the funders who are motivated to invest in a project. The goal of this research was to find out about the user needs and preferences to help in the decision-making about this nascent crowdfunding channel. We utilized the mixed method of research design to collect both qualitative and quantitative data about the users and their needs. This included codesigning work and a Europe-wide questionnaire. The outcome of this work was formalized in a set of practical recommendations for the new crowdfunding channel.</p

Internationalization as a Business Model Design Process

Digitalization is transforming the dynamic of entrepreneurial opportunity pursuit to the extent that traditional theories of internationalization may no longer effectively explain firms’ internationalization patterns. To test alternative perspectives, we introduce a business model design lens to the study of entrepreneurial internationalization in the digital age. Drawing on a multiple case study research of six new ventures, we induct a three-layer model of internationalization process, which distinguishes between digital, ecosystem, and country layers. While the country layer is extensively studied in traditional internationalization models, the digital and ecosystem layers are new. Our case evidence shows that the digitalization of the firm’s context enables it to extend interactions beyond domestic borders already at the value discovery stage, thereby enabling internationalization in the formative stages of business model design process. The internationalization layers also demonstrate how new ventures that start as global, narrow their foreign market scope at later states

Exploratory Study on Technology related Successfully Funded Crowdfunding Projects' Post Online Market Presence

The influence of crowdfunding on financing entrepreneurial ventures and projects have been increasing in recent years. It allows founders of crowdfunding projects to achieve investments from a relatively big crowd using the internet. The recent rise of the crowdfunding phenomena attracts more project founders to establish it as a new entrepreneurial finance method, between bootstrapping and traditional way of finance. This emphasize the need for an exploratory study on the field of technology related crowdfunding projects. The research used quantitative approach, with bivariate analyses to discover the relationship between crowdfunding indicators and the product’s post online market presence. The research examined 3169 technology related projects, from which 170 were successfully funded tangible products, which was the basis of this research. Using this methodology the research tested four hypotheses that were deducted from diffusion of technology (Miller & Garnsey, 2000), forms and dynamics of crowdfunding (Belleflamme et al., 2013, Mollick, 2014). Aiming by that to find the degree of significance between the higher numbers of needed and received funds, the total number of funders and the number of pre-sales with the product’s post online market presence. The research concludes that more project gets funded within the technology category, and particularly for tangible products, which is generally a high-cost product development. Furthermore the research found significant relationship between the higher numbers of received funds, the total number of funders and the number of pre-sales with the product’s post online market presence. To this end the research concludes by suggesting future research to investigate further the different actors separately within the crowdfunding phenomena

¿Cuál es la configuración de los proyectos de crowdfunding en Jornalismo? Un análisis de contenido de proyectos en Kickstarter (2010-2018)

The media landscape has drastically changed during the past decade with the emergence of new models and platforms allowing citizens to become amateur journalists and news publishers. Alongside traditional players, newcomers and do-it-yourself initiatives emerged in this market with the help of platforms that seek to engage with a potential audience and offer alternative funding means, such as crowdfunding. Success cases and innovative examples abound in the literature, often on a case-based analysis, showing the potential this funding model has to support local projects and investigative journalism. It is the aim of this paper to descriptively unveil the characteristics of such calls via a content analysis using the Kickstarter website, as this typically represents the reward-based crowdfunding model. This study contributes to discuss not only the features of calls but, furthermore, to which extent crowdfunding seems to emerge novel ways of creating and sharing media content.O ambiente dos media transformou-se radicalmente durante a década passada com a emergência de novos modelos e plataformas que permite aos cidadãos tornarem-se jornalistas. Juntamente das corporações tradicionais de media, novos entrantes e iniciativas “do-it-yourself” emergem no mercado com a ajuda de plataformas que buscam conectar uma demanda em potencial e oferecer alternativas de financiamento, como crowdfunding (ou financiamento coletivo). Casos de sucesso e exemplos inovadores abundam na literatura, maioritariamente apresentada com base em estudos de caso, os quais mostram o potencial deste modo de financiamento para o auxílio a projetos locais e investigativos. É objetivo deste artigo mostrar descritivamente as características desses projetos por meio de uma análise de conteúdo que usa como base a plataforma Kickstarter, um caso em geral representativo dos projetos de crowdfunding. Este estudo contribui não apenas para a discussão das características do jornalismo nos financiamentos coletivos, mas também para a crítica sobre se este meio traz contribuições para novos modos de criação e distribuição de conteúdo.El panorama de los medios ha cambiado drásticamente durante la última década con la aparición de nuevos modelos y plataformas que permiten a los ciudadanos convertirse en periodistas aficionados y editores de noticias. Junto con los jugadores tradicionales, los recién llegados y las iniciativas de bricolaje surgieron en el mercado con la ayuda de plataformas que buscan conectarse con una audiencia potencial y ofrecer medios de financiación alternativos, como el crowdfunding. Los casos de éxito y los ejemplos innovadores abundan en la literatura, a menudo en un análisis basado en casos, que muestra el potencial de este modelo de financiación para apoyar proyectos locales y periodismo de investigación. El objetivo de este documento es revelar descriptivamente las características de tales llamadas a través de un análi-sis de contenido utilizando el sitio web Kickstarter, ya que este es generalmente un caso representativo del modelo de crowdfunding basado en recompensas en todo el mundo. Este estudio contribuye a debatir no solo las características de las llamadas sino, además, hasta qué punto el crowdfunding parece generar formas novedosas de crear y compartir contenido.(undefined

Counting Your Chickens Before They Hatch - How to Manage Rapid Venture Growth Ensuing from “Blockbuster” Crowdfunding Campaigns

Research Problem:​ While research on rapid venture growth has mostly focused on high-growth firms in later stages of development, the topic has become increasingly important to understand for new ventures as well. With the establishment of crowdfunding as an alternative source of financing, companies have access to tools that enable quick expansion of their marketing, funding and distribution capabilities that can speedily result in phases of rapid venture growth. As examples of companies that ceased to exist after a Blockbuster Kickstarter campaigns show, this phenomenon can be a double-edged sword for new ventures that fail to manage the risks and challenges associated with rapid venture growth. Research Aims​: Our aim in this thesis is to gain an in-depth understanding of the challenges arising in the aftermath of an overly successful Kickstarter campaign and analyse the strategies companies applied to overcome these challenges. Ultimately, we aim to provide insights into how new ventures manage rapid venture growth as a consequence of crowdfunding or due to other circumstances. Method​: We deploy a qualitative, comparative study approach, juxtaposing the applied strategies and concepts of six companies that continued to experience rapid growth after conducting a Blockbuster campaign on Kickstarter. Results:​ Based on the insights gained we provide an introduction into the general mindset of ventures that are managing rapid venture growth. We identify overarching concepts that guide these entrepreneurs in the areas of strategic management, company structure and growth management. Implications:​ Our results provide theoretical implications for how rapid growth can be studied in new ventures, the concept of the liability of rapid growth and the interrelatedness of the outcome of growth and the growth process research strands. Practical implications include guiding principles for new ventures inside and outside the crowdfunding context.Research Problem:​ While research on rapid venture growth has mostly focused on high-growth firms in later stages of development, the topic has become increasingly important to understand for new ventures as well. With the establishment of crowdfunding as an alternative source of financing, companies have access to tools that enable quick expansion of their marketing, funding and distribution capabilities that can speedily result in phases of rapid venture growth. As examples of companies that ceased to exist after a Blockbuster Kickstarter campaigns show, this phenomenon can be a double-edged sword for new ventures that fail to manage the risks and challenges associated with rapid venture growth. Research Aims​: Our aim in this thesis is to gain an in-depth understanding of the challenges arising in the aftermath of an overly successful Kickstarter campaign and analyse the strategies companies applied to overcome these challenges. Ultimately, we aim to provide insights into how new ventures manage rapid venture growth as a consequence of crowdfunding or due to other circumstances. Method​: We deploy a qualitative, comparative study approach, juxtaposing the applied strategies and concepts of six companies that continued to experience rapid growth after conducting a Blockbuster campaign on Kickstarter. Results:​ Based on the insights gained we provide an introduction into the general mindset of ventures that are managing rapid venture growth. We identify overarching concepts that guide these entrepreneurs in the areas of strategic management, company structure and growth management. Implications:​ Our results provide theoretical implications for how rapid growth can be studied in new ventures, the concept of the liability of rapid growth and the interrelatedness of the outcome of growth and the growth process research strands. Practical implications include guiding principles for new ventures inside and outside the crowdfunding context

Oregon Capital Scan: A Line is Drawn

This report was written with the primary intention of helping to educate entrepreneurs and growth company leaders with respect to the variety and scale of capital sources currently available in the State. It is not uncommon for those seeking to enter the capital markets as an entrepreneur to possess a limited understanding of where capital can be found. This knowledge gap leads to a level of perceived risk uncertainty that inhibits company formation and growth. This report is not intended to instruct entrepreneurs in the skills required to secure funding, rather it is intended as a catalog of source data to enlighten as to the many different types of capital available. This report is also intended for policy makers and those who work to support the development of a thriving growth company ecosystem in the State. This includes the sponsors of this report who seek to find new ways to bring together education and resources to enhance the ability of those who choose to build their companies in Oregon. This report can serve as a baseline of quantitative data that may help everyone to better understand where we are as a State now, with respect to the key ingredient of growth capital, and help us measure our progress and improvements over time

How open innovation strategy and effectuation within platform ecosystem can foster innovation performance: Evidence from digital multi-sided platform startups

This article explores how effectuation approaches – entrepreneurial action that deals with a set of means as given and focuses on selecting between possible effects that can be created with that set of means – contribute to digital Multi-Sided Platform (MSP) startups significant growth. The study integrates effectuation theory with an open innovation strategy within the platform ecosystem to understand the innovation process under resource constraint, limited knowledge, and uncertainty. Our inductive multiple-case study findings from three leading digital MSP startups show how their founding team uses the knowledge, ideas, and resources from external parties within the platform ecosystem, including agents, user communities, and supporting partner firms, along with means from the entrepreneurs’ background, in the beginning to produce high growth innovation outcomes. Platform-based entrepreneurship becomes the integrating point of effectuation theory from entrepreneurship research and open innovation strategy through strategic management research. The bridge for these two areas suggests implications for platform-based entrepreneurship research in strategic entrepreneurship