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Developing economies often struggle with limited resources and personnel, making market validation for startups a challenge. Existing validation methods can be costly and complicated, requiring significant time and resources. This study aimed to address these challenges by developing a web-based market validation tool for startups. Results showed that the tool was well received by respondents, with the majority finding it easy to use and navigate. Additionally, respondents rated the tool as highly valuable for their startup process. This study highlights the potential benefits of web-based market validation tools for startups in developing economies, offering a cost-effective and accessible solution.
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Velasco et al. (2024) studied this question.
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