Everyday ideas are born that change the world, ideas that beat the high-risk market of entrepreneurship. Relating to the question, what gives way to an optimal market establishment? The purpose of the thesis is to provide information related to what type of methodologies that contribute to the endeavours of a startup to successfully create a product that serves the markets needs. Achieved through careful and qualitative assessments of relevant sources in an abductive approach. The empirical findings from an observed startup serves as the basis for research, subsequently correlated and defined through scientific findings of the methodologies of the business model canvas, minimum viable product, and Lean Startup Methodology. The foundation of observations revolves around the startup company Swift, whose vision is to eliminate the risk of discrimination in the job-searching process through innovate and technical measures. Furthermore, quantitative data was gathered to assess the applicability of this study to the general startup market. The analyses of the startups utilization of the methodologies indicated flaws revolving human bias factors of interpreting data, and the effects of presenting minimum viable products to the market could effect the market establishment, relating to the customer perception within the innovation- spectrum. Conclusively, by utilizing methods that optimize multi-variable understanding, and continuous feedback by customers to validate market related hypothesises; give way to higher chances of an optimal product-market-fit.

Background: There is an increasing amount of arguments made that new business models are the solution when companies and industries face radical changes in the environment. To be able to prosper in the long run, organizations must reinvent themselves over and over again. Many authors (e.g. Abernathy & Utterback, 1978; Christensen, 1997; Kim & Mauborgne, 2005; Ries, 2011) claim that big, radical, reconfigurations are needed in order to prosper in the long-term. Theories, concepts and framework have been developed to answer how this reconfiguration should happen within organizations. However, the concepts derived are just parts of the solution, and none take a holistic approach, trying to cover them in a practical framework that could be used by organizations. Aim: The aim of the thesis is to propose a framework that enables organizations to systemize their innovation processes, making them flexible enough to repetitively seize opportunities through business model innovation where new value can be created and captured. The proposed framework aims to enable organizations to start discussing how they should create and capture new value and give them a more pragmatic view on the innovation process. It also aims to act as a starting point for future research. Methodology: The thesis follows March & Smith’s (1995) design science methodology in order to build and evaluate the framework. This is done in three steps; first by building a model from theory. Second, the emergence of business models in three different case companies are compared and investigated qualitatively. Lastly the model and the factors derived from the data are contrasted and a framework is built and evaluated. Findings & Conclusion: The basis of the derived framework proposes for big steps to change, and create and capture new value; analyze the basis of competition in the macro and micro environment, analyze and experiment with different non-customer tiers, experiment with the creation of value and experiment and analyze the capture of the value created. More tangible tools are proposed for each of these steps. Actually testing the framework and further evaluating and theorizing of the framework is proposed as future research directions.

Abstract Context: Software startups are new companies that aim at developing innovative software-intensive products that stand out from those of other companies in the target market. A successful startup tries to scale its business rapidly, which in turn leads to job creation and an increase number in local products. Product development is an essential aspect of a software startup’s business, and therefore it is important to have a suitable startup ecosystem around a startup to support a new product idea from conception to development to a minimum viable product (MVP) and finally to a full-fledged product. Objective: The objective of this doctoral research is to understand the effect of the startup ecosystem elements on an initial MVP development in software startups and thereby assist startup companies in developing successful products. Method: To achieve the objective, two multivocal literature reviews and multiple empirical studies were conducted to examine: a) the elements in a startup ecosystem, b) initial MVP development in software startups, and c) the effects of startup ecosystem elements on the initial MVP development phase. Results: This doctoral research identified eight main elements in the startup ecosystem that affect the startup and its product development. Additionally, it was found that a product idea is based on a problem experienced by customers or on an unserved customer need. The requirements for developing an initial MVP from the product idea usually come from internal sources, and the elicited requirements are stored in text documents and prioritized based on their value to customers and stakeholders. These requirements are converted into product features, of which some can be used to develop a prototype that can act as an initial MVP. Furthermore, it was observed that the startup ecosystem elements can influence the initial MVP development phase. For instance, supporting organizations such as incubators and accelerators affect initial MVPs by assisting inexperienced founders with training and mentoring during MVP development. Conclusion: A prototype can be used as an initial MVP. Also, experienced founders prefer to develop an initial MVP by themselves, while, inexperienced founders need support from supporting organizations in a startup ecosystem during initial MVP development. / Tiivistelmä Konteksti: Ohjelmistoalan startup-yritykset ovat uusia yrityksiä, jotka pyrkivät kehittämään innovatiivisia tuotteita monille eri kohdemarkkinoille. Uuden yrityksen menestyksekkään käynnistämisen tavoitteena on nopea kasvu, mikä puolestaan luo työpaikkoja ja nostaa kotimaista tuotetarjontaa markkinoilla. Koska tuotekehitys on tärkeä osa ohjelmiston käyttöönottoa, on tärkeää, että uuden yrityksen ympärillä on olemassa sopiva ekosysteemi, joka tukee uutta tuoteideaa konseptista pienimmän toimivan tuotteen kehittämiseen ja edelleen täyteen tuotteeseen. Tavoite: Tämän tutkimuksen tavoitteena on ymmärtää startup-ekosysteemin roolia ensimmäisen pienimmän toimivan tuotteen kehittämisessä ohjelmistoalan startup-yrityksissä ja sen kautta auttaa startup-yrityksiä menestyvien tuotteiden kehittämisessä. Menetelmät: Tutkimustavoitteen saavuttamiseksi tehtiin kaksi kirjallisuuskatsausta sekä useita tapaustutkimuksia, joissa tarkasteltiin a) startup-ekosysteemin elementtejä, b) ensimmäisen pienimmän toimivan tuotteen kehittämistä ja c) startup-ekosysteemin elementtien vaikutusta ensimmäisen pienimmän toimivan tuotteen kehittämisvaiheessa. Tulokset: Tutkimuksessa tunnistettiin kahdeksan tärkeää elementtiä startup -ekosysteemissä, jotka voivat vaikuttaa suoraan tai välillisesti yrityksen käynnistämiseen ja sen tuotekehitykseen. Lisäksi selvitettiin, että tuoteidea perustuu asiakkaiden kokemiin ongelmiin tai täyttymättömiin tarpeisiin. Pienimmän toimivan tuotteen vaatimukset ovat yleensä peräisin yrityksen sisäisistä lähteistä. Vaatimukset on tallennettu tekstidokumentteihin, ja ne priorisoidaan asiakkaille ja sidosryhmille syntyvän arvon mukaan. Vaatimukset muutetaan tuoteominaisuuksiksi, joista osaa voidaan käyttää, kun kehitetään prototyyppiä ensimmäiseksi pienimmäksi toimivaksi tuotteeksi. Edelleen havaittiin, että startup-ekosysteemin elementit voivat vaikuttaa pienimmän toimivan tuotteen kehittämisvaiheeseen. Esimerkiksi tukiorganisaatiot, kuten yrityshautomot ja -kiihdyttämöt, vaikuttavat pienimpiin toimiviin tuotteisiin kouluttamalla ja mentoroimalla kokemattomia perustajia. Päätelmät: Yksinkertaista prototyyppiä voidaan käyttää pienimpänä toimivana tuotteena. Lisäksi, kokeneet perustajat haluavat kehittää ensimmäisen pienimmän toimivan tuotteen itse, kun taas kokemattomat perustajat tarvitsevat tukea ulkopuolisilta organisaatioilta pienimmän toimivan tuotteen kehittämisessä.

Thesis deals with startup companies and their development methodology. The main aim is to present a model of startup company development. Within the theoretical part successful and unsuccessful businesses are analyzed and selected approaches to the development of startup companies are explained. In practical part, based on the findings a model for startup company development is proposed.

Prior studies have shown that investment knowledge and motivation increases when students in a school setting have access to a stock trading learning platform.  This thesis aims to further investigate if a stand-alone online stock trading learning platform, on its own, can help non stock investors understand financial literacy concepts.It further attempts to identify what type of system functionality that is most beneficial for the beginner when it comes to understanding and applying these concepts.  To explore this, an MVP stock trading learning platform1 was initially developed so that new features could be implemented and modified freely, without being bound by existing software. The development was done using the lean UX method and Jobs To Be Done interviews. From this, it was found that merely enabling the users to trade stocks (without risk) did not significantly help them to understand investing concepts and draw new conclusions.  New functionality was then added to the learning platform, in the form of a historical propagation feature. It lets the user assemble a stock portfolio and see what the portfolio would be worth today if bought earlier. This enabled the user to quickly and interactively see the effects of diversification and return of investment over time. Pre/post interviews showed that the platform, with historical propagation functionality, altered the users perception of both diversification and return, which indicates that it also has the potential to affect financial literacy. / Tidigare studier har visat att investerings-kunskap och motivation ökar när elever i en skolmiljö har tillgång till en inlärningsplattform för aktiehandel.  Detta examensarbete syftar till att ytterligare undersöka om en fristående online- aktie-inlärningsplattform, i sig, kan hjälpa icke-aktieinvesterare att förstå begrepp rörande finansiell kompetens. Arbetet försöker vidare identifiera vilken typ av systemfunktionalitet som är mest fördelaktig för nybörjaren när det gäller att förstå och tillämpa dessa begrepp.  För att utforska detta utvecklades inledningsvis en MVP (minimum viable product) lärplattform för aktiehandel så att nya funktioner kunde implementeras och modifieras fritt utan att begränsas av befintlig programvara. Utvecklingen skedde med hjälp av lean UX-metoden och Jobs To Be Done intervjuer. Av arbetet kunde man konstatera att funktionaliteten med att bara göra det möjligt för användarna att handla aktier (utan risk) inte hjälpte dem nämnvärt att förstå investerings-koncept och dra nya slutsatser.  Ny funktionalitet lades sedan till på inlärnings-plattformen i form av en historiepropagagerings-funktion. Funktionen låter användaren skapa en aktieportfölj och se vad portföljen skulle vara värd idag om den köptes tidigare. Detta gjorde det möjligt för användaren att snabbt och interaktivt se effekterna av diversifiering och resultatet av investeringar över tid. Pre / post intervjuer visade att plattformen, med historiepropagerings-funktionalitet, förändrade användarnas uppfattning om både diversifiering och avkastning, vilket indikerar att den också har potential att påverka finansiell kompetens.

This study aimed to answer the question whether time to market and competition pressure are important issues for new companies with a software products and whether they affect the development process and decision-making regarding releasing or the product. The study is based on the literature data and interviews with six technology startup companies. It investigated how the concept of minimum viable product is used by the companies for testing the product-market fit and how they apply principles of user-centred design for providing a good user experience of their products. I found that innovative products helped the companies escape direct competition. The development cycle was mostly defined by the industry standards and concrete customer needs rather than the competition pressure. User-centred design practices are widely implemented by the startups, but they are not always complete. In today's software market, the experience that the customers are provided with new products seems to be more important for the startups than formalisation of the development process and the product's time to market. / Den här studien sökte besvara frågan huruvida tid till marknadsintroduktion och tryck från konkurrenter är viktiga faktorer för nya uppstartbolag inom mjukvaruutveckling och huruvida dessa faktorer påverkar utvecklingsprocessen och beslut rörande produktlansering. Studien baserar sig på en litteraturgranskning och intervjuer med sex teknologiuppstartbolag. Studien undersökte hur konceptet av minsta bärkraftiga produkt används av uppstartbolagen för att testa hur bra produkten passar marknaden och hur bolagen använder principer från användarcentrerad design för att ge en god användarupplevelse i sina produkter. Jag fann att innovatina produkter hjälpte bolagen undvika direkt konkurrens. Utvecklingscykeln bestämdes framför allt av industristandarder och konkreta behov från kunderna i stället för av trycket från konkurrenter. Användarcentrerad designpraxis är vida erkänd hos uppstartbolagen, men tillämpningen är inte alltid komplett. I dagens mjukvarumarknad verkar kunders användarupplevelse i nya produkter vara viktigare för uppstartbolagen än att formalisera utvecklingsprocessen och produktens tid till marknadsintroduktion.

[pt] Muitas startups e até mesmo empresas de software tradicionais adotaram o uso de MVPs (sigla em inglês para Produto Mínimo Viável) para permitir experimentar rapidamente possibilidades de solução. O conceito de MVP tem influenciado a forma como as equipes de desenvolvimento aplicam as práticas de Engenharia de Software (ES). Entretanto, o entendimento geral desta influência dos MVPs sobre as práticas de ES ainda é pobre. Nosso objetivo é caracterizar o panorama de publicações sobre práticas que têm sido utilizadas no contexto dos MVPs de software e reunir insights dos profissionais sobre as práticas identificadas. Conduzimos um estudo de mapeamento sistemático usando uma estratégia de busca híbrida que consiste em uma busca em banco de dados e um snowballing das referências, para frente e para trás, de forma paralela. Posteriormente, discutimos os resultados do mapeamento em duas sessões de grupos de foco envolvendo doze profissionais da indústria que utilizam amplamente os MVPs em seus projetos para capturar suas percepções sobre os resultados do mapeamento. Identificamos 33 artigos publicados entre 2013 e 2020. Observamos algumas tendências relacionadas às práticas de ideação e avaliação de MVPs. Por exemplo, com relação à ideação, encontramos seis abordagens diferentes (e.g., Design Thinking, Lean Inception) e principalmente práticas informais de envolvimento do usuário final (e.g., workshops, entrevistas). Com relação à avaliação, há uma ênfase nas validações do usuário final baseadas em práticas como testes de usabilidade, testes A/B, e análise dos dados de uso. Entretanto, ainda há pesquisas limitadas relacionadas à avaliação de viabilidade técnica do MVP e estimativa de esforço. Os praticantes das sessões do grupo de foco reforçaram a confiança em nossos resultados no que diz respeito às práticas de ideação e avaliação, estando cientes da maioria das práticas identificadas. Eles também relataram como lidam com as avaliações de viabilidade técnica (envolvendo desenvolvedores durante a ideação e conduzindo experimentos informais) e estimativa de esforço na prática (com base na opinião de especialistas e usando práticas comuns a metodologias ágeis, como o Planning Poker). Nossa análise sugere que há oportunidades para propostas de soluções e estudos de avaliação para tratar de lacunas na literatura relativas à avaliação de viabilidade técnica e estimativa de esforço. Em geral, é necessário investir mais esforço na avaliação empírica das práticas existentes relacionadas ao MVP. / [en] Many startup environments and even traditional software companies have embraced the use of MVPs (Minimum Viable Products) to allow quickly experimenting solution options. The MVP concept has influenced the way in which development teams apply Software Engineering (SE) practices. However, the overall understanding of this influence of MVPs on SE practices is still poor. Our goal is to characterize the publication landscape on practices that have been used in the context of software MVPs and to gather practitioner insights on the identified practices. We conducted a systematic mapping study using a hybrid search strategy that consists of a database search and parallel forward and backward snowballing. Thereafter, we discussed the mapping study results in two focus groups sessions involving twelve industry practitioners that extensively use MVPs in their projects to capture their perceptions on the findings of the mapping study. We identified 33 papers published between 2013 and 2020. We observed some trends related to MVP ideation and evaluation practices. For instance, regarding ideation, we found six different approaches (e.g., Design Thinking, Lean Inception) and mainly informal end-user involvement practices (e.g., workshops, interviews). Regarding evaluation, there is an emphasis on enduser validations based on practices such as usability tests, A/B testing, and usage data analysis. However, there is still limited research related to MVP technical feasibility assessment and effort estimation. Practitioners of the focus group sessions reinforced the confidence in our results regarding ideation and evaluation practices, being aware of most of the identified practices. They also reported how they deal with the technical feasibility assessments (involving developers during the ideation and conducting informal experiments) and effort estimation in practice (based on expert opinion and using practices common to agile methodologies, such as Planning Poker). Our analysis suggests that there are opportunities for solution proposals and evaluation studies to address literature gaps concerning technical feasibility assessment and effort estimation. Overall, more effort needs to be invested into empirically evaluating the existing MVP-related practices.