As you start your journey on Startup Elf, let me help you find exactly “What is a Startup?”. In addition there there are so many opinions on it across the globe. So, in this article I will share with you some definitions from multiple sources.
What is a Startup Company?
Let us start with the famous dictionaries. If you visit the Oxford Dictionary website, you will get the definition as “A newly established business“.
Also you can check it out live here.
Let us checkout what different people has been saying about it. Here are some quotes from wikipedia article here.
business that is typically technology oriented and has high growth potential
– U.S. Small Business Administration
organization formed to search for a repeatable and scalable business model.
– Steve Blank and Bob Dorf
a startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit“. The only essential thing is growth. Everything else we associate with startups follows from growth.
– Paul Graham
The word startup started trending very recently after the dot com bubble. People started to use it more frequently with the business. Startup word is associated with new IT businesses.
Is your Company a Startup?
If you have come to this page then chances are very high that your are already having a new business. And you are checking its eligibility as startup. So to do that you should validate with the organisation or government from which you want some benefits.
While you are validating you can also explore other options. So approaching the incubator in your country will be a good idea.
Finally you found that there is no perfect definition of a startup. Yet you be sure that all startups are new business. Also the definition will change slightly as per your country and organisation where you are applying for funding.
Do remember to share below what definition you have used in the comments below.