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The startup community is flowing with fantastic ideas, but if you want investors to take your pitch serious then you need a prototype. Investors have figured out that asking for a functional prototype is one way to separate the ‘wannabe’ entrepreneurs from serious players. As the old adage goes, “talk is cheap”. Entrepreneurs who are prepared to show a prototype to investors, whether angel investors or a crowdfunding community, demonstrate that they know how to execute.
Having a prototype shows that you have already tested the idea, worked out the design challenges and researched manufacturing partners. Completing all of this before seeking funding brings a new level of credibility to you and your startup.
If you find yourself sitting on the fence as to whether or not you should go ahead and develop that prototype, here are a few points to consider…
The benefits and advantages of a physical prototype should not be underestimated. Building a prototype will help you validate your product early-on and gain credibility.
Do you have additional questions about the prototyping process? Please feel free to contact us at email@example.com