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Start Up

A startup is a new business venture established by entrepreneurs to create unique products or services. It focuses on fast growth in an existing market through innovation. There are several types of startups including scalable, small business, lifestyle, buyable, big business, and social startups. A startup ecosystem is an interdependent system of communities, organizations, and resources that support startup growth in a geographical area, including startups, enablers like accelerators/investors, and ecosystem partners like government/corporations. Key elements of an ecosystem include problems/ideas, entrepreneurs, investors, people, capital, infrastructure, services, community, mentorship, and networks.

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98 views

Start Up

A startup is a new business venture established by entrepreneurs to create unique products or services. It focuses on fast growth in an existing market through innovation. There are several types of startups including scalable, small business, lifestyle, buyable, big business, and social startups. A startup ecosystem is an interdependent system of communities, organizations, and resources that support startup growth in a geographical area, including startups, enablers like accelerators/investors, and ecosystem partners like government/corporations. Key elements of an ecosystem include problems/ideas, entrepreneurs, investors, people, capital, infrastructure, services, community, mentorship, and networks.

Uploaded by

kaliprasad82
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Startup

The answer to the question, “What is a startup?” is that it is a new business venture
providing services or products to an existing and growing market. A startup is in the
first stage of operations and comprises one or more entrepreneurs. The primary aim
is to answer market demand by creating new and innovative products or services.
While most small businesses might intend to stay small, a startup focuses on fast
growth in a designated market. Usually, such companies start as an idea and
gradually grow into a viable product, service or platform.
Thus, a startup is a young company established by one or more entrepreneurs to
create unique and irreplaceable products or services. It aims at bringing innovation
and building ideas quickly.
6 Types of Startups

 Scalable startups

 Small business startups

 Lifestyle startups

 Buyable startups

 Big business startups

 Social startups

In our modern world, where everyone strives to bring innovation, a good idea isn’t
enough to create a startup. To understand the features of different startups better,
you need to review the following six types.

 Scalable startups. Companies in a tech niche often belong to this group. Since
technology companies often have great potential, they can easily access the
global market. Tech businesses can receive financial support from investors
and grow into international companies. Examples of such startups include
Google, Uber, Facebook, and Twitter. These startups hire the best workers
and search for investors to boost the development of their ideas and scale.
 Small business startups. These businesses are created by regular people and
are self-funded. They grow at their own pace and usually have a good site but
don’t have an app. Grocery stores, hairdressers, bakers, and travel agents are
the perfect examples.

 Lifestyle startups. People who have hobbies and are eager to work on their
passion can create a lifestyle startup. They can make a living by doing what
they love. We can see a lot of examples of lifestyle startups. Let’s take
dancers, for instance. They actively open online dance schools to teach
children and adults to dance and earn money this way.

 Buyable startups. In the technology and software industry, some people


design a startup from scratch to sell it to a bigger company later. Giants like
Amazon and Uber buy small startups to develop them over time and receive
benefits.

 Big business startups. Large companies have a finite lifespan since customers’
preferences, technologies, and competitors change over time. That’s why
businesses should be ready to adapt to new conditions. As a result, they design
innovative products that can satisfy the needs of modern customers.

 Social startups. These startups exist despite the general belief that the main
aim of all startups is to earn money. There are still companies designed to do
good for other people, and they are called social startups. Examples include
charities and non-profit organizations that exist thanks to donations. For
instance, Code.org, a non-profit organization, encourages school students in
the US to learn computer science.

What Is Startup Ecosystem?

A startup ecosystem is an interdependent system of communities, organisations,


resources, and service providers that support the growth of startups in a particular
geographical area.

It is a closed system in which every element is connected and mutually dependent.

The ecosystem is usually divided into three components:


1. The Startup: This high-growth fueled business disrupts the industry it
operates in. Examples include Uber, Airbnb, and Snapchat.
2. The Enablers: These people or organisations make it possible for the
ecosystem players to do their job. These include accelerators, incubators,
investors, and universities.
3. The Ecosystem Partners: These organisations collaborate with and support
the startup ecosystem. These include the government, corporations, and
service providers.
The ecosystem is composed of various players, each with its own role to play in
supporting startups.

Elements Of Startup Ecosystem

Consider the ecosystem as a well-oiled machine that requires several tools to


function correctly. Just like a car requires spark plugs, oil, and a gas tank to run, a
startup ecosystem requires the following elements.

 Problems and Ideas: A startup ecosystem cannot exist without new problems
and ideas. The businesses in the ecosystem must constantly innovate and
create new products and services to solve these problems.
 Entrepreneurs: These are the people with the ideas and the drive to make
them a reality. They are the lifeblood of a this ecosystem.
 Investors: These are the people who provide the financial backing for a
startup to grow. They take on a high risk by investing in these businesses, but
they believe in the potential payoff.
 People: A startup cannot exist without people. The people in the ecosystem
must be able to provide the talent, skills, and resources that the startup needs
to grow. They include startup founders, employees, investors, mentors, and
service providers.
 Capital: Capital is the fuel that powers a startup. It allows them to expand,
hire new employees, and grow their business.
 Infrastructure: A startup ecosystem requires the infrastructure necessary for
businesses to operate. This includes the physical infrastructure (office space,
meeting spaces, etc.) and the digital infrastructure (networks, bandwidth, etc.).
 Services: The startup ecosystem must have access to the necessary services to
function effectively. These services include legal, accounting, banking, and
marketing services.
 Community: This ecosystem requires a community of people who are
passionate about startups and are willing to help them succeed. This includes
other entrepreneurs, investors, mentors, and service providers.
 Mentorship: Startups are hard, and mentors are the ones guiding new
entrepreneurs to find their way. They provide essential guidance and support
to the startups by helping them overcome challenges and make better
decisions.
 Network: This system requires a strong network of people who can help the
startups connect with the right resources. This includes investors, customers,
and service providers.

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