Change search
ReferencesLink to record
Permanent link

Direct link
Market Opportunity Discovery for Early-Stage Startups
KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Entrepreneurship and innovation. Neam AB.
2015 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

Despite the past decade’s increased adoption of scientific methodologies by startups, most still fail to scale into large companies. The paralyzing plethora of advice, theory and models recommended to startups is poorly matched by practical advice on the applicability and implications of actually following the recommendations.

In this action-based research I, an IT consultant for twelve years and founder/co-founder of several startups, try out and evaluate the applicability of methodologies for applying scientific management principles to innovation in early-stage startups.

In the first part of my research, I use an naive explorative hands-on approach which results in insights into the limited applicability of popular methodologies such as Growth Hacking and The Lean Startup. These limitations are especially pronounced for early-stage startups who are yet to launch a minimum viable product (MVP), as well as those that have trouble to decide which hypotheses are the riskiest. Most actionable insights during this part stemmed from the engagement in various thought-experiments and reflections, and not from external customer feedback.

To remedy this, and to thoroughly evaluate the applicability of a pre-launch market assessment method, I engage in market opportunity discovery following the recommendations set forth by Outcome-Driven Innovation (ODI). This hands-on in-depth approach yielded seemingly high-quality actionable insights with direct implications for the product and marketing strategy of the studied early-stage startup.

In the discussion part, I reflect over the applicability of the evaluated methodologies and argue that the main difference between applicable and non-applicable methodologies is whether they are manufacturing-based or needs-based.

Finally, I reflect over possible implications and suggest that a startup community wide change of mindset from manufacturing-based methodologies such as The Lean Startup to needs-based methodologies such as Outcome-Driven Innovation will minimize the startup innovation-process variability and increase startup efficiency dramatically on a global scale.

Place, publisher, year, edition, pages
2015. , 99 p.
Examensarbete INDEK, 2015:112
Keyword [en]
Entrepreneurship, Market Opportunity Discovery, Early-Stage Startups, Outcome-Driven Innovation, The Lean Startup, Jobs To Be Done, Needs-Based Innovation Process
National Category
Economics and Business Engineering and Technology
URN: urn:nbn:se:kth:diva-169581OAI: diva2:822756
Subject / course
Entrepreneurship and Innovation Management
Educational program
Master of Science in Engineering - Industrial Engineering and Management
Available from: 2015-06-22 Created: 2015-06-17 Last updated: 2015-06-22Bibliographically approved

Open Access in DiVA

KTH INDEK 2015 112 - Fredrik Wollsén - Master of Science Thesis - Market Opportunity Discovery for Early-Stage Startups(4033 kB)465 downloads
File information
File name FULLTEXT01.pdfFile size 4033 kBChecksum SHA-512
Type fulltextMimetype application/pdf

By organisation
Entrepreneurship and innovation
Economics and BusinessEngineering and Technology

Search outside of DiVA

GoogleGoogle Scholar
Total: 465 downloads
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

Total: 3118 hits
ReferencesLink to record
Permanent link

Direct link