CMAT · Innovation and Entrepreneurship
Entrepreneurship concepts
Business-model terms, startup funding stages (bootstrapping, angel, seed, venture capital), lean startup, minimum viable product, pivot, unit economics, break-even.
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- In the exam pattern: CMAT, Innovation and Entrepreneurship: 20 questions, 80 marks (NTA brochure, 17 Oct 2025).
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Take a full mock →Q1 · Entrepreneurship concepts · EASY
A startup founder is personally saving money and using credit cards to fund the initial development of a mobile app, without seeking external investors. This approach to raising capital is best described as:
Q2 · Entrepreneurship concepts · MEDIUM
In the context of the Lean Startup methodology, a Minimum Viable Product (MVP) is primarily designed to:
Q3 · Entrepreneurship concepts · MEDIUM
A SaaS company has a Customer Acquisition Cost (CAC) of Rs 500 and a Lifetime Value (LTV) of Rs 2,000. The LTV:CAC ratio for this company is:
Q4 · Entrepreneurship concepts · MEDIUM
A startup initially built a hardware device for smart home security. After testing the MVP, they found that customers preferred a software-only monitoring app. The startup then completely changed its product offering to focus solely on the software app. This strategic shift is known as a:
Q5 · Entrepreneurship concepts · HARD
Which of the following is NOT a typical characteristic of 'Unit Economics' in a business model?