MVP is a software product intended to test a hypothesis of an app. Includes a minimum set of features sufficient for the market launch. Aimed to collect feedback from the first users and to set the direction for further development.
Reduce time to market and get feedback from early customers owing to only a few core functions realization.
Spend the reasonable amount of money for the working product that already can attract customers and investors.
Verify your app hypothesis on the ground before wasting time and money on the features customers don't need.
The MVP is a strategy that may be used as a part of Blank's customer development methodology that focuses on continual product iteration and refinement based on customer feedback.