Lean Startup is an iterative process for entrepreneurship that begins with customer discovery – physically getting out of the classroom and off campus to interview dozens or even hundreds of potential customers and stakeholders to understand their problems and pain points in the market and in society. These interviews, or experiments, lead to real-world learnings and insights that validate or invalidate key components of the business model, often leading to pivots. Lean Startup greatly reduces risk for any startup venture and has been adopted by the National Science Foundation to help determine which research innovations best meet market needs. Lean Startup is also being applied to social entrepreneurship, life sciences, and innovations in STEM education.
Lean Startup Explained by Steve Blank in the Kauffman Foundation’s Startup School