The document describes INDePT, an agile product development methodology used by Innovation Lab LLC. The methodology consists of three phases (analysis, design and development, rollout) containing multiple iterations. The analysis phase includes problem domain analysis and functionality analysis. The design phase includes system design, prototyping, and feature development. A case study project called SOPRAX is also described, which was a social networking and e-commerce website. Tools used in the methodology include Java, Maven, JUnit, Subversion, Confluence, and MS Project. Metrics are collected throughout the process to monitor progress.