Having trouble getting your head around MVP? It’s important that you understand what is meant by this before you apply, and our guide tells you everything you need to know.
So you’re applying for the MIST Startup Accelerator, but you need some extra help. The good news is that you’re already on the right track! As MIST’s official media partner, Dulichable has the scoop and we’re here to help.
We watched MIST 2017 closely and we have direct communication with the MIST selection committee. This is article is part of a series on how to write a successful MIST application. Today we focus on what MIST means by MVP.
MVP stands for minimum viable product, and it’s crucial that your startup or tourism company is already at that stage. The tech-experts over at Techopia define the MVP development stage as when “a new product or website is developed with sufficient features to satisfy early adopters.”
This means it needs to achieve three things:
- That it has enough value that people are willing to use it or buy it initially.
- That it demonstrates enough future benefit to retain early adopters.
- That it provides a feedback loop to guide future development.
If you’re still at the ideation stage, you may not be ready for MIST this year. But if you have a product that you can go to market with, even just as a pilot, then consider launching it. It doesn’t matter if your product isn’t perfect. It just has to be usable.
Applications close on March 10th so you still have a few weeks to test the product. In some cases, that might be enough to convince the MIST selection committee. If you’re in travel tech, consider launching your app as a website instead and keep in mind that it doesn’t have to be profitable – just usable.
If you can get some hits and make some bookings, the MIST selection committee is far more likely to accept you onto the program.
For more information and guidance, including advice on how to put together a pitch deck that will propel your application, download our complete guide: