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.
