What is a Startup?
A startup is a newly established business or organization designed to develop and validate a scalable business model, often under conditions of high uncertainty. Startups are typically associated with innovation, whether through introducing new products, disrupting industries, or adopting unique approaches to solving problems.
Key Characteristics of a Startup:
- Scalability: Startups aim to grow quickly and expand into larger markets.
- Innovation: They focus on creating new solutions or improving existing ones.
- High Risk, High Reward: Startups face uncertainty but aim for significant returns.
Lean Operations: They often operate with minimal resources, focusing on efficiency and rapid iteration.
