Every year, thousands of software-based businesses are launched worldwide with aspirations of huge turnover and profit. However, achieving these goals is only possible if the market demand for the product exists. While it’s true that some demands are unpredictable or dynamic, innovative businesses have no way of finding that out unless they launch a sample product in the market. Therefore, they can do even better by going forward with a minimum viable product (MVP).
What is an MVP, and Why is it Important for Startup Companies?
Just like the name suggests, an MVP is a base product with the bare minimum features required for performing primary functions. First, it is used to validate the market demand and understand the overall consumer perception of the product idea. Once the demand is validated, the startup can continue with the production and look forward to launching the product in the targeted market(s).
An MVP is different from a sample product, including all functions and features, for marketing purposes. MVP emphasizes more on market validation, the scope of improvement and is not sales & marketing oriented.
Benefits of Developing an MVP Product before Launching the Final Product/Service into Market
Using an MVP has the following benefits:
- Prevents huge losses to business by providing ample insights on market demand for the product
- Requires the least amount of resources for development
- It takes much less time to develop than the final product
- Gathers information on consumer perception of the product
- Sets the development process in the right direction with the help of valuable consumer inputs
- Speeds up the final production
- Validation reports assist in finding investors and raising funds for the project.
- Assists in the strategic deployment of the final product
Things to Look for In an MVP Development Company
Consider the following points for selecting an MVP development company:
- First, the company should have experience in agile development methodologies. These methodologies are essential for the incremental improvement of an MVP.
- The company should have experience in working with startups. Newly established companies require comprehensive consultation and assistance during the development project, and they constitute a significant customer segment of MVP development services.
- The company should provide efficient customer support and maintain clear communication with the client to ensure a quality MVP and the much-required incremental improvements.
- View the portfolio of the company to know if it has worked on similar projects like yours before.
The List of Top MVP Development Companies
1. FATBit Technologies
FATbit is a leading MVP development company with a wide range of MVPs to help business owners validate various eCommerce business ideas in their respective markets. With FATbit MVPs, you can launch and validate businesses like rental and selling marketplaces, gigs marketplaces, online tutoring, food, and grocery delivery.
The team behind FATbit has made its instant MVP demos accessible to the public, which means you can check them out anytime on FATbit’s official website without requiring you to sign up. Along with MVP development, FATbit also provides agile development, eCommerce development, CMS development, mobile development, digital marketing, and business consulting services.
Clutch awarded FATbit as one of the World’s Top software development companies in the year 2021.
Established In: 2004
Top Clients: Uni-Diamonds, Superlivery, Gearflow
Hourly Rate: $$
Intelivita is an IT software development company that is known for developing efficient MVPs for startups. It works across various technology, including machine learning, AR/VR, and blockchain. You can contact Intelivita to create several types of software such as mobile apps, mobile games, web apps, etc.
Like FATbit, Intelivita also provides some readymade solutions for launching cab booking and food delivery businesses.
Established in: 2014
Top Clients: FormAssist, AwayBack, Fantasy Ji
Hourly Rate: $$
Confianz is a renowned MVP development company providing its services in various industries like healthcare, eCommerce, insurance, etc. In addition, it is widely known for its ODOO open-source platform development services and delivers custom web and mobile app development.
Confianz is a reliable offshore and outsourcing software development company with a team of experienced professionals.
Established in: 2008
Top Clients: Grunt Style, Oeveo
Hourly Rate: $$
4. UIG Studio
UIG Studio is an American MVP development company championing and developing software solutions for various businesses. Along with MVP, the team behind UIG Studio excels at prototyping as well. Some other services that it provides are mobile app development, web development, and GIS software development.
Established in: 2013
Top Clients: Printbox, Audiobook
Hourly Rate: $$$
Reinvently provides software development packages for MVP development. With a decade of experience, it is another leading name in the IT industry. The team behind Reinvently believes in working streamlined and follows strategic deployment for its projects. Along with MVP, Reinvently also works on IOT powered apps and machine learning.
Established in: 2010
Top Clients: Profusa, Nugs.net
Hourly Rate: $$$
What makes these companies the best MVP Software development companies?
All companies mentioned above have been selected considering their skill set, expertise, and social proofings. Not only do these companies have a history of working with startups and completing projects within deadlines, but they are also able to provide the direction a startup needs towards a successful business launch.
These were the top companies for MVP software development in 2021. To select the best one amongst them, you can share your requirements with the companies above and discuss your project in detail. Lastly, pay equal attention to the customer support these companies provide post product launch.