CMAT cheat sheet
CMAT · Keep the key ideas within reach.
Innovation and Entrepreneurship
Idea versus opportunity: an opportunity is attractive, durable, timely and anchored in a product or service that creates value for a buyer; an idea alone lacks these tests.
Lean startup loop is build–measure–learn; the minimum viable product exists to test the riskiest assumption with the least effort, not to be a finished product.
Product-market fit signals: strong organic retention, low churn, and users who complain when the product is unavailable; high sign-ups with low retention indicate a weak fit.
Business Model Canvas has nine blocks: customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partners, cost structure.
Unit economics: contribution margin per unit = price − variable cost per unit; break-even quantity = fixed costs / contribution margin per unit.
Funding stages: bootstrapping, seed (angel/seed funds), Series A onward (venture capital), growth/private equity. Equity dilution = new shares issued / total shares after issue.
Intellectual property in India: patents protect inventions for 20 years, trademarks protect brand identifiers indefinitely if renewed every 10 years, and copyright in literary works lasts the author's life plus 60 years.
Government startup support: Startup India recognition, the Fund of Funds, and tax benefits under Section 80-IAC require DPIIT recognition and specific turnover and age conditions.