A sharp definition of a start-up cannot be given. A start-up is usually a fast-growing company with an innovative idea where a product or service is made that is scalable and repeatable. Scalable and repeatable means that the product is made once and can be sold again and again. In that case, every customer will not be supplied with a separate product, such as a clothing item. Furthermore, a start-up has the following characteristics:
What is a Start-up?
- a start-up is a young company: not older than 5 years
- a start-up is innovative: has an innovative idea and uses new, modern technology
- a start-up is ambitious: strives to quickly go through a large (financial) growth
- a start-up is internationally oriented: wants its product to make an impact on the international level
If a starter with his company meets the above characteristics, it can be called a start-up. Because such a start-up faces an uncertain future, now that the entrepreneur does not know what the customers will think of his product or service, his product or service is regularly tested and constantly improved. It is also important that if the number of users of the product grows, the start-up can grow with it.
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