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How to get the right product developed as a startup?

Find a problem, figure out a solution. A problem can be as simple as in the market people are expecting a more affordable product. Thats how you identify a market gap _S

Found the gap have researched a lot outsourced my software development to an agency but didn't get the outcome as expected. Now stuck!

There can be 2 possibilities 1) You lacked the communication skill , while communicating to the agency . 2) For saving money , you hired a low budget agency, and expected a good result. Am I right?

Nop, the communication was clear and also I paid quite a handsome amount to get the job done.

This means you hired the wrong agency, your badluck 😔. I think , again you have to hire a agency, but this time , review thier past projects 🙁 to get better understanding

I believe that was just a lesson to me about not hiring an agency.

You can manage without hireing any agency?

Have boarded a co-founder who is a techie and passionate about the startup as well.

👏👏 best wishes to your team from my side