What is Proof Of Concept?
You have an idea, you think it is great and you want to exploit it. So you are going to create a prototype, a first version, in which you have put a lot of hope, and have invested time and money. But will your project succeed? Will it be as successful as you had imagined? Are you on the wrong track or have you hit the jackpot?
No idea, you might say, because you still don't have the proof that your project will work.