New product development research on applied tools and practices has typically been associated with large, well-established firms, not start-up companies. In this paper, we describe a simplified new product development process for new ventures and detail its application to a consumer product over a two-year period. The process illustrates how established firm NPD practices such as phase gates and market planning can be successfully adopted by early-stage firms and highlights practices that are critical to project success. The case also illustrates that virtual team communication, CAD efficiency, and physical prototype iteration are key drivers in the race towards successful commercialization.
All Science Journal Classification (ASJC) codes
- Arts and Humanities (miscellaneous)
- Social Sciences(all)
- Computer Science Applications
- Artificial Intelligence