We don’t invest in companies at the pre-product or idea stage. We think a “Minimum Viable Product” is fine, but one that has at least been generating some kind of income or value for customers.
We can invest in an MVP (Minimum Viable Product), but it is not the scenario we are looking for.
Generally speaking, we describe the “minimum investment stage” for Inti Killa Enterprises Limited, if you have at least a solid answer to the following questions:
Can you build it?
We need to see that the product can be built. We don’t invest if the goal is to change course and spend that investment capital by hiring an outside team to build the final product.
Will people pay for it?
We need to look at evidence that customers will pay a reasonably market price for the product. We don’t pre-enter and we can’t invest if you only have the pilot or the pre-launch.
Can you find customers?
We need to see evidence of at least one repeatable customer acquisition channel that isn’t just your friends, colleagues, family, or people you know.