What technical criteria distinguish a conceptual idea from a viable investment project?

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The technical distinction lies in hypothesis validation. While a conceptual idea is based on assumptions about market behaviour, a viable project is supported by a tested business thesis. This involves moving from a subjective version to a structure based on projected cash flow analysis, the determination of the internal rate of return (IRR), and the verification of real verifiable demand through market studies or proof-of-concept tests.

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