The findings indicate that supporting factors, such as incubators and accelerators, can influence MVP development by providing young founders with the necessary entrepreneurship skills and education needed to create the right product-market fit. The study results showed that internal sources are most common for identifying requirements for the product idea for MVP development. Data were collected through semi-structured interviews, observation, and materials.
Startrail software software#
We conducted a study with 13 software startups and five supporting organizations (accelerators, incubator, co-working space, and investment firm) in the startup ecosystem of the city of Oulu in Finland. The empirical study presented in this article aims to identify the effect of the six ecosystem elements (entrepreneurs, technology, market, support factors, finance, and human capital) on MVP development. However, existing knowledge on the effect of the startup ecosystem elements on the MVP development is limited. MVP development by providing the necessary entrepreneurial education and technical skills to founding team members for identifying problem-solution fit for their product idea, allowing them to find the right product-market fit.
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An ideal startup ecosystem can assist in. However, most startups fail within two years of their launch because of a poor problem-solution fit and negligence of the learning process during minimum viable product (MVP) development. Software startups develop innovative products through which they scale their business rapidly, and thus, provide value to the economy, including job generation.