Bridging ideas and market success: A framework for managing proof-of-concept projects

Abstract

While the world is full of potential moonshot projects, there is an ever-growing disconnect between new ideas and their successful transformation into commercialized new products. Companies often struggle with inefficient resource allocation and the challenge of quickly assessing an idea’s feasibility. The burgeoning number of proof-of-concept (PoC) projects reflects the need to mitigate the risk of investing resources in potential failures. This study introduces the PoC Framework, a strategic tool that guides managers through the PoC journey, transforming initial ideas into real-world applications. Importantly, it promotes a mindset shift that equally values the proving and disproving of concepts. This approach saves resources by preventing the further development of non-viable ideas. The PoC Framework has been gaining traction among Silicon Valley firms, underscoring its practical relevance and effectiveness in fostering strategic thinking and overcoming hidden challenges within the PoC process.