A startup isn’t just a smaller version of a larger company. Research organizations like the Kauffman Foundation are now breaking down startups to a science. This is the official definition of a startup:
STARTUP (N.)- A temporary organization designed to search for a repeatable and scalable business model.
There are also four unique types of startups:
1. Existing Markets
2. Re-segmented Markets
3. New Markets
4. Clone Markets
How well do you know your startups? Check out this video from the Kauffman Founders School to brush up on your startup knowledge.