A Minimum Viable Product (MVP) is a product or service with the minimum set of features that can be used by early customers to validate a business idea and gather feedback.

It's a way for startups to test their assumptions about the market and the product or service with minimal resources and time.

The MVP is a prototype of a product or service that is functional enough to be tested with a small group of customers or users. It's not a fully-featured product or service, but it should have enough features to demonstrate the value proposition and gather feedback from early adopters.

The MVP allows startups to test their assumptions about the market, the product or service, and the business model with minimal resources. It helps startups to identify the most critical features of the product or service and gather feedback from early customers to guide future development.

It also helps startups to get a sense of how their customers will respond to their product or service, which can help them to understand what features they should prioritize in future development.

The MVP concept is widely used in the startup ecosystem and it's considered an essential step in the product development process, as it helps startups to validate their assumptions, gather feedback and make informed decisions on how to improve their product or service.