Growth accelerator for startups & scaleups
A startup is a company with an innovative idea that seaches for a profitable business model. This model must be scalable and repeatable. A startup up applies the latest technology for the realization of its idea.
The future of a startup is uncertain, because at the start it is unknown what customers think about the product or service. Often a startup doesn’t know its customers, let alone a startup knows if it approaches the right customers.
Characteristics of a Startup are:
- attraction of creative employees
- development of a result driven company culture
- development of an innovative service or product
- operation in a context with a high level of uncertainty
Note: this definition excludes the size of the company or the name of an industry.
After the startup demonstrates it has a repeatable, scalable and profitable business model, the startup will grow into a scaleup. This is the scaling and repeating phase. The company leaves the searching phase behind. The focus is now on growth.
- Startups exist in all branches
- Not every starting company (starter) is a startup
- A startup is nog a small version of a larger company.
After five years, half of the established startups no longer exists.
Major causes are:
1. the idea cannot be made profitable. There is a lack of product fit, customer fit or market fit.
2. the leadershipsteam lacks entrepreneurship.
Inability to obtain funding can have its origins in both causes.