“Start up” these days does not sound strange to people any more, especially to young generations. Almost every day and everywhere can we come across this conception.
Theoretically, start up means to start a new business. It is comprised of all activities that are involved in establishing a new business. What’s more, start up should be distinguished from entrepreneurship. According to some well-known businessmen, start up refers to Entrepreneurship innovation, and entrepreneurship is entrepreneurship. Starting a business can also become a huge business. Speaking of Startup, it must mention the pinnacle of science and technology, referring to what the world has never done. Entrepreneurs must rely on a new technology or create a new form of business, build a new market segment, that is to make a difference not only in the country, but with all the companies all over the world.
Many startups start with the founders' own money or donations from family and friends. In some cases, crowdfunding is called. However, most startups have to borrow capital from angel investors and Venture Capital. Technology is typically a product's characteristic from a startup. Even so, even if the product doesn't rely heavily on technology, startups need to apply technology to achieve business goals and growth ambitions. Start up consists of four indispensable stages: Orientation, Challenge, Integration and Development and represents two most specialized factors, which are breakthrough and growth:
Breakthrough is creating something that is never on the market or creating a better value than what is available, such as being able to create a new segment in production (such as equipment smart personal health measurement), an entirely new business model (like AirBnb), or a unique, never before seen technology (like 3D printing technology).
Growth means that a start up will not set a limit for growth, and they have the ambition to grow to the greatest extent possible. They exert a huge influence, which can be seen as a market-maker (like the Apple smartphone, which was the first company to explore and always lead in that area later).