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Innovation and Business Model


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Unit Video

Unit Summary

The third step in the innovation process called prototyping, is where you take the best idea, or consolidated group of ideas that you came up with, and turn it into a sample product that can explain and demonstrate to users the idea.
If you’re building a software or app, it would be to come up with the minimum viable product that you can give to users to test.
If you’re building a physical product, you would be able to create a mock of that product representing how that would look in real life.
The aim of the prototype is to get as close as possible to the real product or service that you want to build, without having to spend huge amount of resources or time doing it.

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“The value of an idea lies in the using of it.” Thomas Edison