On 05.6.2024, an online lecture from a foreign mentor Mirko Tadic on the topic “Building an MVP for Deep Tech Success” was held.
About Mirko Tadic:
Mirko is a venture partner at EIT Digital, formerly a managing partner at Bridgeway Innovation, a venture capitalist and accelerator, and an innovator. Master of Applied Physics and Materials Science, studied artificial intelligence, robotics and innovation management at Stanford University.
More than 20 years of experience in building coalitions with multicultural expertise through extensive collaboration with many businesses, institutions, and research projects in the US, Europe, and Asia. He has led corporate and university innovation and research teams. He has founded, managed and scaled several businesses around the world.
The key insights from Mirko Tadic’s online lecture on “Building an MVP for Deep Tech Success” include the following:
- Simplicity and focus on core functionality: It’s important to focus on just a few core product features and avoid overloading it with functionality. A simple product aimed at solving one specific problem can be more successful in the market.
- Speed to market and adaptation: It is important to bring a product to market quickly and adapt quickly to changes in market requirements and conditions. This will allow you to respond to user feedback and improve the product faster.
- User feedback: User feedback is critical to the success of a product. It allows you to receive feedback and improve the product based on the needs of the target audience.
- Flexibility of the iteration process: It is important to be flexible in the product development process, focusing on one problem and using a minimal set of features to solve it. This will help to bring the product to market faster and test its effectiveness.
- MVP as a tool for determining market demand: A minimum viable product (MVP) helps to find out which product will meet the needs of the market, avoiding the trap of creating a perfect, but possibly unnecessary product.
Thus, the key principles of defining an MVP include simplicity, speed to market, user feedback, and flexibility in the development process. Using an MVP helps to increase the chances of product success by reducing risks and development costs.
Conclusion: Tips from Mirko Tadic
- Embrace the MVP
The MVP approach is a powerful strategy for tech startups.
- Focus on learning
MVP is about learning, not about creating the perfect product.
- Achieve success
Use MVP to turn your bold ideas into viable solutions.
Additionally: materials for determining the level of technological readiness (TRL).
