Proof of Concept (PoC), What Is It and Why Do It?

When you have a business idea in mind, you can test the concept before presenting it to the world in order to save time and money.

Concept testing allows you to refine a product concept, an advertisement, an advertising campaign, a new logo or even a landing page because you get feedback directly from your target market.

What are Proofs of Concept?

Proofs of Concept are the process of allowing your target audience to evaluate your business idea before it becomes available. They can cover anything from abstractions to advertising campaigns.

Its purpose is to verify that it is possible to exploit any of these elements in a way that is useful to the business. This type of testing is generally considered essential in order to create a working and valid prototype.

Amazon Web Services, for example, makes it easy for its users to set up a PoC that allows them to test the services they need in a cloud environment.

Generally speaking, this stage facilitates the decision to approve an idea and invest in its implementation on a larger scale.

In this respect, PoC is useful in:

  • The development of a product, as a way of testing its functionality.

  • The launch of an emerging company or startup, to validate its financial capacity and potential.

  • Large-scale projects to reduce the risks associated with the viability of the project and the availability of financial and operational resources.

For this to happen, it is necessary:

  • be clear about the what (the raison d'être of the company, idea or product);

  • set a time or deadline to test its viability, being aware that the sales cycle will necessarily be extended;

  • determine the criteria of excellence to be met and comply with them.

How to carry out a proof of concept?

In the creation and development of products, PoC seeks to answer the question of how to build or materialise them.

For a proof of concept to be approved, it must be proven to be practical, functional and commercially viable.

Proof of concept is a great way to demonstrate the value of a startup to a corporate quickly, and thanks to IVC's commercial acceleration programme, participating startups will have the opportunity to go through this process accompanied by the Business Development team, who will guide them along the way.

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