Abed Naseri Douraki

• It is widely known that especially for technology-based start-ups, entrepreneurs need to set up the boundaries of the business and define the product/service to offer in order to minimize the risk of failure. The goal of this thesis is to not only emphasize the importance of the business model development and evaluation but also show an example customer validation process for an emerging start-up named DoBeeDo, which is a mobile app operating on a two-sided market. During the process of customer validation a survey has been conducted to evaluate the interest of the target groups as well as the fit of their expectations using the Willingness to Pay and Willingness to Accept measures. The paper includes an analysis and evaluation of the gathered results and assesses whether the execution of the Customer Development Model can be continued.