Question

Which of the following statement is/are correct about startups?

1. Startups are often a new company
2. Startups needs to be very innovative
3. Govt. of India launched SAMARTH scheme to support startups
4. Startups needs to grow quickly

• A. iv only
• B. i, ii, iv
• C. All
• D. i, iii

Answer 1

Answer:

B. i, ii, iv

A startup is typically a young company or project founded by an entrepreneur or a team of co-founders with the aim of developing a unique product or service and bringing it to market. Key characteristics include:

• Innovation: Startups often introduce novel ideas, technologies, or business models that disrupt existing industries or create entirely new ones.

• Scalability: A core goal of most startups is to achieve rapid, significant growth. They aim to build a business model that can be replicated and expanded to a large market.

• Uncertainty and Risk: The early stages of a startup are marked by high levels of uncertainty regarding market acceptance, funding, and operational challenges. This leads to a high failure rate.

• Problem-Solving: Startups are usually born out of a desire to solve a specific problem or address an unmet need in the market.

• Limited Resources: Especially in their initial phases, startups often operate with constrained resources, relying heavily on ingenuity and efficiency.