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A prototype is a working model of your idea. There are many reason why you should create a prototype and it does matter if a startup has a working prototype it can create fast decisions from investors if a model can create market traction from the created prototype investors will be able to understand the idea much better.
The MVP or minimum viable product is divided into two categories.
1 The low fidelity minimum viable product
This is the most easiest MVP that you can create. All you need is a pen and a paper and draw your idea. The reason why low fidelity MVPs are created to further improve the product idea and brainstorming which part is needed to be fortified.
The low fidelity wire frame is good amd investors who prefer not to be involved in highly technical structures of the product.
As long as it can showcase main purpose of the idea.
Your wireframe will really depend to what type of investors your are pitching your ideas.
Some angel investors on the other hand prefer to know the basic purpose of a startup, the function and the business plan before they start investing. It does not mean that the wireframe is not feasible but to know more about the probability and the potential of market disruption of any rising or early stage ventures.
It is no doubt that investors and high-net-worth investors will always prefer to know the technicalities, for the purpose of capital preservation because founders and investors share the risk and reward.
Creating a low fidelity wireframe and pitching to investors right away is also a good idea as long as you are able to provide the main reason why your products stands out from the rest of the market that you will be entering.
2 High fidelity Minimum Viable Product
After creating the low fidelity MVP it will be much better to jump right into to the process of creating a high fidelity version of your prototype. All the corrected ideas you have built on your low fidelity model are now ready to be implemented to a much higher version.
Investors who come across your idea will be more interested and will be more willing to invest their money to bring your idea and a working model to the world. Given in a situation that the idea was pitched to investors. This is the part where a startup can gain the investment needed for their project
So you may ask me or ask yourself why should I rely with investors to create my startup. Well my answer is that it depends to what type of projects are being created or what type of projects are being pitched.
In the startup and venture capitalism world where pres-seed investments can be as big as 100,000USD or 200,500 Euros to skyrocket a venture or bring your idea to life, as fast as few months while at the same time highly skilled people will be helping you along the way, why not?.
At the end of they day it is not always about the money, it is about bringing your idea to life and live the life that you always wanted.
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