A teenage girl named Sophie is rushed to the hospital after a terrible car accident. Lucky for Sophie, heart surgeon Dr. Albert Beck is at the hospital to save her life. While Sophie recovers nicely in the hospital, Dr. Beck tends to her, more than Sophie's mother would like. A mother's instinct is never wrong.
On the low-cost side, a very basic mobile product for one platform could cost between $20k and $35k to get an initial version of the product to market. A more robust app could cost between $50k-$75k for an initial version.
The $750,000 includes $120,000 of operational dollars for legal, accounting, and comparable fees. He further breaks down the remaining $630,000 as follows: $35,000 per month for a team of four, which I would consider a very standard team size for building an app. The timeline to build a v1.0 app is usually anywhere between 4-6 months. So taking that monthly spend and multiplying it times that timeline, we have our first answer: a v1.0 app should cost anywhere between $140,000 to $210,000. To back up Jason's perspective, Manu Kumar outlined what he believe is the new pre-seed round last April.