Customer Development Model or Lean start-up (Ries, 2011; Blank & Dorf, 2012) emerges as the most popular methodology for entrepreneurship worldwide (Blank, 2013), becoming the framework for entrepreneurship education (Blank & Engel, 2013). This approach is based on the principle that assumptions about the business model hypotheses must be validated iteratively through customer feedback, matching product to customer problems as much as possible (Heitmann, 2014). These explicit assumptions can be put to empirical tests in the “real world” (Harms, 2015: 22). Though the methodology has been criticized as being informal, intuitive and prone to biases and heuristics (York & Danes, 2014), lean startup offers a unique set of tools and techniques for scientific entrepreneurs that potentially help them find a market for their inventions in relatively less time and cost-effectively, in contrast to the traditional paths followed by many academic entrepreneurs. Our research is one of the first attempts to systemize the knowledge about this interaction between the customer development model and science-based entrepreneurship in the context of an emerging economy.