People Don’t Know: a startup

Startit Admin

Friday 18 May 2018

People Don’t Know: a startup

Once a month, we take our magnifying glass and zoom in on a specific term from the startup world. This time, we thought we’d go for the most important one of all: a startup!

What exactly defines a startup?

A startup is a new, small-scale company, founded by a team of people. The startup’s product is still in a research phase, which means it’s not very well-known and might not even become a success. In this early stage of the startup, big investments are essential. But once the product reaches a more adult phase, large turnovers can be expected.

Startups are determined to make the world a better place: they design and create products to make people’s lives easier and more efficient. Some of the biggest and most famous companies we know today, started out as a small startup, including Uber and Airbnb.

 


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