Prototypes are vital because they help in reducing risks and uncertainties associated with launching a new product. By creating a prototype, entrepreneurs can:
1. Validate the idea: Testing the feasibility of the concept. 2. Attract investors: Demonstrating the potential and viability of the product. 3. Gather feedback: Using real-world data to refine the product. 4. Save costs: Identifying and solving problems early in the development process.