A startup company is an intense entrepreneurial new venture that comes to propose an innovative product, process or service.
The term startup was always associated with the act of creating a company. During the period known as the ‘Dotcom Bubble’, between 1995 and 2001, the term began to be used to describe a group of people working to develop a small business, a partnership or an organization implementing a differentiated idea to rapidly develop a scalable business model.
Innovation: startup usually presents something different from what already exists in the market or propose a new way of doing an existing service so that this is a competitive advantage.
Scalability: A startup’s business is scalable, in other words, the potential for rapid growth using the same dimension of human or financial resources.
High potential to reach large markets: Startups seek to create products/services that can potentially be used by a large number of customers so they can grow continuously.
Great adaptability: by the necessity of validating it innovation, the startup need to be ready to improve their product and/or business model in order to adapt to customer demand.
(Image from https://startupjuncture.com)