When it comes to running a tech startup, the leaders and teams within often have incredible ideas that could result in major success. However, having an idea is not enough– that idea must translate into a product that works for the businesses and that users actually want. This product would be considered the minimum viable product, or MVP.
Startup founders looking to release their digital product idea into the market must do so in the form of a minimum viable product. Most of them rely on their tech partners to take care of this important aspect, but since it can be a bit tricky, it is always a good idea to ensure that you outsource your MVP development to a company that can really help you get the ball rolling.
In this guide, we’ll break down what tech startup leaders need to know about when looking for an MVP development company, as well as a few agencies worth looking into.
What is an MVP in Tech?
A minimal viable product (MVP) is a development strategy that involves creating a new product or website with only enough functionality to satisfy early users. Only after incorporating feedback from the product’s early consumers is the final, comprehensive set of features planned and built. An MVP comes to help you validate your idea early in the process of product development. In the case of Agile Development, it should help your product team validate and iterate your product based on input. MVPs include things like product demos, crowdfunding initiatives, and landing sites. In other circumstances, the MVP might be a patchwork of current technologies to demonstrate viability before becoming a new tool or program. Having an MVP, as well as a minimum viable product strategy for startups is vital. A minimal viable product has three basic characteristics:
- It is valuable enough that people are willing to use or purchase it at first.
- It exhibits enough long-term value to keep early adopters.
- It creates a feedback loop that may be used to influence future growth.
An MVP’s development team will be concerned with the feature prioritization of a digital product, looking to not waste time on anything above the basic minimum, instead assessing the customers’ needs and preferences as they use the product and building every other feature over time. Such MVP development companies or teams can also be outsourced. This tutorial will deconstruct several significant MVP players worth considering as a tech startup.
Why should you consider MVP Development for your startup?
There are so many reasons why you should consider an MVP development firm, or MVP development in general, as a tech startup leader. The benefits of MVP development include the following:
- A minimum viable product will help your team focus more on core functionalities rather than concepts.
- Your strategy development approach will benefit from a minimum viable product.
- It’s difficult to devise a strategy. It will be simplified with a minimum viable product, ensuring your startup’s long-term success.
- It’s easier to clarify your vision or idea via MVP development.
- Research won’t provide you a long-term growth strategy without client input.
- Your plan will be hampered if you sacrifice the Minimum Viable Solution in favor of a feature-rich product.
- You can gain a better understanding of your customer, client, and market needs.
What should you look for in an MVP Development Company?
Not all MVP development firms are equally lucrative. There are a few things to consider when looking into firms to hire. Consider these factors when searching for your MVP development team of choice:
- Top-notch reviews, testimonials, and ratings of the company online. An MVP development company with an excellent reputation is worth considering.
- A lean website that showcases the firm’s talent.
- Proof of experience working with startups in a similar market as your startup. For example, if your startup is involved in healthcare app development, your MVP firm of choice should also have a history working in this niche.
- A willingness to sign a non-disclosure agreement on behalf of your startup to keep your project safe.
What are the approximate costs of MVP Development?
MVP development costs can vary quite a bit. Let’s consider MVP costs in the context of tech. Despite the fact that it is sometimes referred to as an “initial version” of a product, outsourced MVP prices are comparable to that of a standard mobile app.
On average, they cost between $17,000 and $55,000. When it comes to MVP development expenses, each company or expert will offer you a different estimate. The estimates will change even if you describe your project in the same way.
This occurs because the cost of MVP software and development is determined by a number of variables. The scope of design and development, tech stacks required, the type or size of team required, and hourly pay rates are the most critical considerations.
8 MVP Development Companies worth watching
1. RebelDot
Location: Romania
Team size: Over 150 employees
Date established: 2018
Key clients: Grundfos, BP, Lautec,
For the past decade, at RebelDot we’ve been interacting with an impressive number of entrepreneurs looking to bring innovation to their sector. We’ve met established businesses looking to grow through digital transformation, enthusiast startup founders at the beginning of their career investing all their time and money into building a digital product, as well as serial entrepreneurs already accustomed to the startup scene, trying to make their way through the competitive world of technology startups.
We’ve launched a series of successful MVP’s for founders looking to develop telemedicine apps, fintech, power and gas apps, daily progress reporting apps, livestreaming apps and even blockchain, launching a sustainable NFT marketplace which we’re yet to discuss about.
The clients that chose to collaborate with us on MVP development do it to achieve faster time-to-market and allocate budget wisely into creating a product that users enjoy using. This happened due to working iteratively based on the constant feedback acquired from the marked which helped us articulate a visually-appealing product that met the needs of both users and businesses.
By default, most of the web and mobile applications that we develop integrate the MVP development stage within the development process, as this is something that our designers, engineers and product strategists strongly recommend. Still, as an agile partner we can always adapt to our clients specific requirements and only develop an MVP or sometimes skip this stage and jump straight to the 1.0 version of your digital product.
2. Intelivita
Location: India
Team size: 11-50 employees
Date established: 2014
Key clients: AwayBack, FormAssist
Intelivita is a software development firm that specializes in creating effective MVPs for companies. It works with a variety of technologies, including machine learning, augmented reality/virtual reality, and blockchain. Intelivita can produce a variety of software for you, including mobile apps, mobile games, web apps, and more. If you’re looking for an MVP development team that can offer additional bells and whistles, this is the company to look into.
3. Classic Informatics
Location: India
Team size: Over 150 employees
Date established: 2002
Key clients: Condexo, MarketMeter
For startups and companies, Classic Informatics provides unique software development and scalable digital solutions. The firm also provides digital commerce solutions for the creation of online storefronts. It also provides content management systems, inbound marketing solutions, and MVP development. To offer high-quality products, the firm uses a variety of technologies and platforms. eCommerce tech startups could benefit from working with this firm.
4. Northell
Location: Ukraine
Team size: Over 30 employees
Date established: 2019
Key clients: Finxflo, SecureFlag
Northell is a small firm with a small staff of highly qualified employees. They create, grow, and sustain both b2b and b2c businesses. They specialize in creating MVP products that help businesses expand faster. Product design and web development are their primary areas of competence. Northell’s product development strategy focuses on producing scalable products that meet corporate needs. They keep track of the product’s dynamics and watch its progress to guarantee that it is constantly delivering beneficial outcomes. The firm is also ranked in the top 20 on Clutch and the top four on Manifest, indicating that they’ve had positive outcomes. Despite its small size and youth compared to more established MVP companies on this list, Northell has proven to be a successful MVP firm worth considering.
5. FATbit Technologies
Location: India
Team size: 51-200 employees
Date established: 2004
Key clients: Gearflow, Superlivery
FATbit Technologies is an MVP development firm that helps budding entrepreneurs validate their internet business concepts. FATbit, with its rapid development methodology, is a trusted partner for businesses looking to enter the eCommerce market. It has developed eCommerce MVPs for a variety of areas, including real estate, ridesharing, food delivery, education, and so on. If you’re looking for a trusted, tried, and true MVP firm, this is the one.
6. Digiteum
Location: Belarus
Team size: Over 50 employees
Date established: 2010
Key clients: DXRX, Printique
Digiteum is a company that creates MVPs. It provides web, mobile, and Internet of Things (IoT) development services. They also include AI and chatbots into their software solutions. They use a diverse set of technologies in their initiatives. The firm guarantees on-time project completion by starting early and responding quickly to any adjustments that may be necessary. Clients from all around the world use the services of the organization.
7. Confianz
Location: United States
Team size: Over 50 employees
Date established: 2008
Key clients: Element Designs, WhooCan
Confianz provides SMBs with cost-effective and scalable products. It provides clients with end-to-end comprehensive solutions. The company creates Android and iOS mobile apps, as well as provides web development and ERP solutions to businesses. Confianz has a global clientele of more than 50 nations.
8. UIG Studio
Location: Poland
Team size: 11-50 employees
Date established: 2013
Key clients: Audiobook, Printbox
UIG Studio is an MVP development firm based in the United States that champions and develops software solutions for a variety of organizations. Along with MVP, the UIG Studio team is also skilled in prototyping. Mobile app development, web development, and GIS software creation are some of the other services it offers.
🚀Ready to start working on your own MVP? Get in touch and let’s explore your product idea together!
