Abstract
Having recently taken a refresher course in lean startup methodology, and after teaching the core concepts for the last 10 years to a variety of audiences, it is abundantly clear to the author that lean startup techniques become a bit strained when applied to hard tech or science based startups. It is argued that lean startup alone will not suffice to create a robust product/market fit. In the case of new hard science technologies, there are more fundamental questions to be asked and answered first that will enable lean startup to eventually succeed as a technique to help establish the product-market fit. For each of the verticals, one must ask: what are the current-day treatment options? How much is the problem worth and what is the scale of the problem? What is applicability of the technology to the vertical? What is the best vertical to first enter and at what point in the supply chain? These questions revolve around selecting your first beachhead market.
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