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Dating: What is the right time to try to raise funding if you are developing an app that will be capital intensive to go to Market with?
GW
GW
Gregg Weiss, App Entrepreneur, start up coach, investor. answered:

I've been running an app development company for the last 6 years and come across this question frequently.
"Proven" means you have put your MVP out there, spent a little bit on advertising and marketing (I'd go with Facebook Ads to start) and can "prove" there is market. In other words, your metrics can support a demand for your product - people respond to the ad, download the app and you can show app retention/growth. I would not rely on app store reviews and ratings as proof as those can easily be fabricated. However, real app metrics that you get from analytics and Flurry have meaning as they are based on data.
You dont need critical mass to show your concept is marketable and there is an audience, but you do need to take it to market first.
IMO, the only entrepreneurs who can secure funding based on a pitch deck without an MVP are ones that have a track record of starting and exiting other successful companies. Good luck!

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