MVP vs. Prototype vs. PoC: Which One Do You Actually Need to Raise Funds ???

Recently in one of my product strategy sessions, an intending founder had a brilliant idea for an Edtech solution. He was so excited but then I asked his short term and long term goals for the product. He then mentioned he would be looking to raise funding with just the PoC(Proof of concept) in the next month.

I have had this case severally where intending founders want to raise funds with just an idea or Proof of concept. They most times confuse, POF with a prototype or an MVP. While it? is possible to raise funds with either of this, it’s difficult to raise funds without an MVP or at least a prototype.

So today we’re going to be taking time to understand these different concepts and which you should go for at each point in time.

This frequent question: -> “What’s the smallest thing I can do to test this idea and attract investors?” leads us to discover the power of PoCs, Prototypes, and MVPs.

So grab your popcorn and come with me ??.

1. Proof of Concept (PoC) – Can We Build This?

A PoC is a small experiment to test whether an idea is technically feasible. It’s not a full product, it’s just a way to see if your concept is possible before investing more time and resources.

?When to use it? If you need to confirm if a technology works before building a product and de-risk technical challenges before building.

?? Does it help raise funds? Not really. A PoC is great for internal validation, but most investors want to see something tangible with market potential.

2. Prototype – What Will It Look and Feel Like?

A prototype is all about visualizing and testing the user experience before development. It’s often non-functional or only partially functional, focusing on UI/UX.

?? Example: A prototype for an EdTech app could be an interactive Figma design that simulates the user experience, showing how students would navigate lessons, take quizzes, and track progress—allowing stakeholders to test and refine the UX before the solution is made functional

?When to use it?: If you want to test and refine the user experience before building, need early feedback from potential users or stakeholders, or to pitch your idea to investors with something they can see and interact with.

?? Does it help raise funds? Yes, for early-stage investors! A strong prototype can convince angel investors or early-stage VCs that the idea is worth backing, especially if it comes with strong user interest.

3. Minimum Viable Product (MVP) – Will People Use It?

An MVP is a simplified but functional version of your product, designed to test market demand. It has just enough features to provide value and collect user feedback.

?? Example: An MVP for an EdTech app could be a basic web or mobile platform where learners can sign up, access lessons, and take quizzes. With only the core features built, just enough to test market demand and gather real user feedback before scaling.

?When to use it? : If you want to test whether real users will adopt your product, and to gain traction before raising significant funding. If you want to enter the market quickly and iterate based on feedback and possibly attract co-founders or team members by showing early success.

?? Does it help raise funds? Absolutely! Investors love seeing an MVP because it proves that real users are willing to engage with the product. If you have traction (users, sign-ups, revenue), you have a much stronger case for funding.

How to Choose the Right One

Need to test technical feasibility? → PoC

Want to refine the user experience? → Prototype

Ready to launch and test the market? → MVP

Start small, test fast, and use the right version of your product for each stage of your journey.

If you're working on a product, which stage are you currently at? Let me know in the comments or send me a message if you want to discuss more!

In the upcoming #mvpchallange, you’ll see these things in practical and will be able to have your MVP in 40 days. See https://gloriaojukwu.com/resources/mvp-challenge to learn more

Talk soon,

Gloria Ojukwu.