The document explains the differences between a prototype and a Minimum Viable Product (MVP) in the context of product development and fundraising. Prototypes serve to demonstrate concepts and attract investment, while MVPs are functional products used to test market viability and gather user feedback. The document also outlines who typically builds each and the intended audience for both approaches.

1. MVP vs. Prototype
Bashar louzon
UX Designer at unit One ICT

2. Prototype
prototype is that first sketch of your idea. You have something clever and a few friends like the idea
of it, so now you need to have something to show to a potential investor that gets the point across
quickly. This stage of fundraising typically targets $50k-100k from friends and family (or more
specifically investors who trust you just as much as they trust your idea).

3. MVP
An MVP is the very first small version of your product for wider circulation. You’ve raised the friends
and family round and are intending to build something that actually works and in itself provides at
least one piece of functionality that makes your product special. This is the code that will be the
backbone of your codebase for the foreseeable future. Your goal is to start building a user base while
raising $250k-1M in an angel investor seed round.

4. Product Life Cycle

5. MVP vs. Prototype
MVP Prototype

6. MVP Why To Use
● MVP
● Test Product Viability
● Test Assumptions
● Test the Market
● Test Product Usability
● Get User Feedback

7. Prototype Why to Use
● Prototype
● Demonstrate the Concept
● Convince Other That You Are Serious
● Get Seed Money

8. MVP Who Builds it
● MVP
● Build by a Minimal Viable Team
● Evolutionary in Its Development

9. Prototype Who Builds it
● Prototype
● Build by One Guy
● Usually Throwaway in Its Development

10. MVP vs. Prototype Targeting
Prototype Targets Innovators
MVP Targets Early Adopters
Early Adopter Groups
Educators
Influencers
Opinion Makers

11. Tools to prototype
● Executable Application
● Adobe Photoshop , Illustrator
● Axure RP
● Balsamiq
● Online
● Invision App