Proof of Concept (POC)
The POC defines whether an idea is feasible or not. It’s meant to determine if a concept is viable, has the potential to grow, and will function as envisioned. With such an exercise, you will need to focus on clarifying the criteria for success, documenting how the proof of concept will be carried out, defining an evaluation component and a proposal for moving forward. A Proof of Concept can attract more investors by showing a concrete product of a company’s work.