INNOVA Lesson 9 - LEAN Startup & Commercialisation

The purpose of innovation is to create products and services that addresses unmet consumers needs.

• TRUE

• FALSE

In the Customer Development Process, what is “Pivot”?

• Take a Course-Correcting Action when the offering to customer doesn’t work

• To change one or more hypotheses of Business Model

• A change in Strategy without a change in Vison

• All of the above

What is Job-To-Be-Done (JTBD)?

• To complete a job in a given time-frame

• What customer Hopes to Accomplish in a given Circumstance

• Cheap & Convenient

• Cleaning the floors

What is Emotional Job-To-Be-Done (JTBD)?

• It is Tangible and Measurable

• It is less powerful than Functional Job-To-Be-Done

• How it Feels to Own and Use the Product

• All of the above

What is “MVP” in Lean Startup Process?

• Most Valuable Product

• Must be Very Pricy

• Minimum Viable Product

• Maximize the Value of the Product

A _________ is a stripped-down version of a product, used to help validate customer's needs and interests.

• Prototype

• Pretotype

• Protocol

• Presumption

What is Funding Strategy?

• To seek financing options to bring ideas into market

• Government grant is an option of funding strategy

• Seed financing from Business Angels/Venture Capitals

• All of the above

Crowdfunding is sourcing for money in exchange for rewards.

• TRUE

• FALSE

Which of the following is a Crowdfunding platform?

• Wikipedia

• Kickstarter

• Quirky

• Fiverr

Mastering the Pitching Skill of your business idea will help you:

• A.   Build  your confidence when speaking to a large audience

• B.    Seize opportunity when speaking with potential investors

• A & B

• None of the above