TiHAN IIT Hyderabad

In their own words

1. **Ideation**: This is the initial phase where the startup concept is born. At this stage, entrepreneurs brainstorm and develop innovative ideas, identify problems to solve, and outline potential solutions. The focus is on market research, understanding customer pain points, and refining the core idea. This stage is crucial for setting the foundation of the startup, but the product or service is not yet developed.2. **Validation**: In the validation stage, the startup tests its idea in the market to confirm its viability. This involves creating a minimum viable product (MVP), gathering feedback from early adopters, and making necessary adjustments. The goal is to ensure there is a demand for the product or service and that customers are willing to pay for it. This stage helps in refining the business model and preparing for further development.3. **Early Traction**: At this stage, the startup begins to gain momentum. The product or service is launched, and the company starts acquiring customers. Early traction is indicated by increasing sales, user engagement, and market presence. Startups at this stage focus on optimizing their operations, improving the product based on user feedback, and building a solid customer base. Securing funding to fuel growth is also common during this phase.4. **Scaling**: The scaling stage is when the startup has proven its product-market fit and is ready to expand rapidly. The focus shifts to growing the business by entering new markets, increasing production, and scaling operations. Startups at this stage invest in marketing, hire more team members, and seek additional funding to support expansion. The goal is to achieve a significant market share and establish the startup as a major player in the industry.

Published by the organisation on its Startup India profile. Not verified by us.