...entrepreneurial ecosystems not only because they provide a petri dish for innovation, but because they create jobs. In an article on AllThingsD today, Jed Christiansen contends that the fundamental value of seed accelerators lies in their ability to both drive economic growth and foster an entrepreneurial culture within local communities. Why important Startups, small businesses and accelerators are critical pistons in the engine of job creation; there are a few who would argue with that. However, research from the Kauffman Foundation puts into perspective just how important they are. It suggests that, between 1980 and 2005, all net job growth emanated from companies fewer than five-years-old. When it comes to how to best reverse an economic downturn, about the only thing you might find politicians agreeing on is the importance of supporting small businesses. For accelerators, it doesn’t matter whether or not all of their startups raise big rounds of venture capital, it matters how well their graduates can build a network of support for their peers and for future companies. The deeper and more robust it becomes, the more success startups find and the more jobs they collectively create. One of the more interesting results was that the funding they received was the least important aspect of the program. What mattered more was the community they were accepted...
Words: 2463 - Pages: 10
...September 2012 A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of "exit." The only essential thing is growth. Everything else we associate with startups follows from growth. If you want to start one it's important to understand that. Startups are so hard that you can't be pointed off to the side and hope to succeed. You have to know that growth is what you're after. The good news is, if you get growth, everything else tends to fall into place. Which means you can use growth like a compass to make almost every decision you face. Redwoods Let's start with a distinction that should be obvious but is often overlooked: not every newly founded company is a startup. Millions of companies are started every year in the US. Only a tiny fraction are startups. Most are service businesses—restaurants, barbershops, plumbers, and so on. These are not startups, except in a few unusual cases. A barbershop isn't designed to grow fast. Whereas a search engine, for example, is. When I say startups are designed to grow fast, I mean it in two senses. Partly I mean designed in the sense of intended, because most startups fail. But I also mean startups are different by nature, in the same way a redwood seedling has a different destiny from a bean sprout. That difference is why there's a distinct word, "startup," for companies...
Words: 5367 - Pages: 22
...reduce regulatory burden, startups shall be allowed to self-certify compliance with labour and environment laws. In case of labour laws, no inspection will be conducted for three years. In case of environment laws, startups under ‘white’ category would be able to self certify compliance. 2. Startup India hub – Will be single-point of contact and hand-holding. 3. Simplifying the startup process – A startup will be to able to set up by just filling up a short form through a mobile app and online portal that will be launched in April. 4. Patent protection – PM Modi said patent protection and IP rights are a major concern for Indian startups. The government will make IPR procedure transparent for stratups. Fast track mechanisms of startup patent applications – in order to allow startups to realise the value of their IPRs at the earliest possible. Patent applications of the startups shall be fast tracked for examination and disposal. 5. Panel of facilitators to provide legal support and assist in filing of patent application– Facilitators shall provide assistance for startups in filing and disposal of patent applications related to patents, trademarks and design under relevant Acts. Government shall bear the entire fees of the facilitators for any number of patents, trademarks or designs that a startup may file. 6. 80% rebate on filing patent applications by startups – To enable startups to reduce costs in their crucial formative years, startups shall be provided an 80%...
Words: 910 - Pages: 4
...The Lean Startup The Lean Startup is a methodology published by Eric Ries in 2011 intended to reinvent how we build businesses today. Since publishing the book The Lean Startup, the fundamentals behind the book have become a widely used process for many technology startups and has since progressed into curriculum of renowned universities and established businesses. The comprehensive idea behind The Lean Startup is to hypothesize, test, and refine your product or service as you build your business to ensure success with the least amount of resources. Although these ideas have recently become popular after the release of Ries’ book, the ideas and concept date back much further. Many of the concepts adapted by The Lean Startup were derived from the familiar Lean Manufacturing views. Improving quality, eliminating wastes, reducing time, and reducing costs are all intricate adaptations from lean manufacturing. Ries began to formalize his knowledge of building businesses after several failed attempts at starting technology businesses. The cycle of lean startup practices were intended for businesses to reduce startup costs, test the market, and improve viability. Historically tech startups would begin with an idea, create the product or service, seek large amounts of funding, and then bank their entire company on one grand launch with hopes of instant success. With Ries’ model startups now create their minimum viable product, test various aspects of the product on a small portion...
Words: 821 - Pages: 4
...Startup Company Name Institution Date Describe the new start-up company that you have created. Include in your description the nature of your company, its mission and vision, your company’s product, an analysis of your staff, and your target clientele. DynaTech is a company that has emerged in the industry of drone navigation and since it was established, it has been capable of developing a standard operating process, which has been essentially responsible for the acquisition, transfer, and identification of knowledge between the various company network’s sections. Due to the skill shown by its management in handling diverse concerns, the company has been proficient in developing a clientele which in diverse establishments in such a short period, where other institutions take years to attain the same. The vision of DynaTech is to create an improved form ofexpertise for all its customers in the most and best secure way possible andso as to accomplish it. It has worked headed for the provision of a variety of serviceable and well-designed navigation systems. Additionally, it has guaranteed that the production cost is low to ascertain that the selling price of its commodities is low such that as most people as likely can be capable to buy them. The policy for human resource include provision of opportunities for down-to-earth people to grow in both professionally and individually so as to produce a better life each and every day not only for the workers but also its...
Words: 807 - Pages: 4
...Indian Society Why is India a great startup ecosystem ? There is a joke about India saying that « India is about the ABC’s » A, B & C standing for Astrology, Bollywood and Cricket. It is time for the jokers to stop underrating India and to make the S of ABC’s stands for Start-ups. India is the third biggest startup ecosystem in the world. In the past few years, the Indian startup ecosystem has been driven by factors like massive funding, growing domestic activities and cutting edge technology. The figures are impressive : 3,100 startups in 2014, a projection of more than 11,500 by 2020. Between 2010 and 2014, the infusion of VC and PE went from $13 million to $1,818 million. Angel investment has also multiplied 8 times from $4.2 million to $32.2 million. It’s a new paradigm for indian economy. It is changing the way the markets are working today in India. 1) Internet allowed a new access to knowledge : We must underline that the Online Courses platform Coursera (https://www.coursera.org/) has more of 75% of its customers in developing countries such as India. Among those 75%, 50% are less than 18 years old. What does this mean for indian economy ? There are currently a lot of indian young people following lectures of top teachers from Harvard and other IVY League schools. In other words, millions of youngsters are getting new skills everyday on the Internet, but those skills do not have a big impact on their employability because they don’t receive diplomas...
Words: 707 - Pages: 3
...Abstract The purpose of this study is to identify most common strategies in managing employee engagement in startup companies in Seattle, Washington, US. Although many research and studies has been conducted to identify strategies to manage the employee engagement, many companies are still unsuccessful to improve their engagement level and their turnover rate. Therefore, this research will narrow the study of employee engagement to a specific type of company, so the result of this study will be most possible to be adopted and referred by other companies in the same category. Engagement level in thirty sample startups will be determined using ISA Engagement Scale and common HR strategies will be evaluated among companies with higher employee engagement score. In the future, the findings of this study can be use as a reference for practitioners at startup companies to develop a better human resource strategy, improving their employee engagement level. Keywords: engagement, startups, human resources, strategy Introduction According to State of the Global Workplace Study by Gallup, there are only 13% of employees are engaged at work in the world. In other word, only one in eight employees that are emotionally committed to their work, contributing to the company’s growth by working effectively and efficiently. Studies have proved that engaged employees contribute to the company’s performance (Arrowsmith & Parker, 2013; Reilly, 2014; Pollitt, 2008) and strategies to improve...
Words: 3379 - Pages: 14
...Inthe startup ofnewprocess plants or inthe introductionofnewprocess technology, even minor installation work can cause plant downtime. On the other hand, the increased income from compressing time schedules for the introduction of new process technology or launching of associated newproducts on themarket surely offers an incentive for securing efficient startups,which is the purpose of this study. A review of publications in the area of startup of process plants shows that organizational issues are scarcely discussed. A new conceptual framework has therefore been developed for organizing startups and themodelling of alternative startup organization structures. Four types of organizational models have been depicted,derived frominformation fromthe literature survey and the author’s own first-hand experience of startups. They include a “fully integrated” type of organizational model for startups together with a profiling of startup contexts. How to organize a startup is, however, only one aspect that will determine the outcome of a project, and other influencing factors ought to be further explored. The frameworkmust be tested and validated in real-life startup situations and in further empirical research.The informationfromthe literature survey, the alternative types of startup organizationalmodels and determinants can already be deployed by firms in the Process Industries, triggering discussion and providing guidelines in their selection of preferred startup organization...
Words: 945 - Pages: 4
...sobrevivir al momento en el que nos encontramos. El término startup retumba desde hace un tiempo en el mundo empresarial actual. Su significado procede del inglés, y se puede traducir como lanzar, emprender o montar (un negocio). Es una figura muy popular fundamentalmente en Estados Unidos donde, al parecer, han creado más de 40 millones de puestos de trabajo en las últimas dos décadas y hace referencia, como su nombre indica, a ideas de negocio emergentes. Aunque el término de startup puede referirse a compañías de cualquier ámbito, normalmente suele utilizarse para aquellas que tienen un fuerte componente tecnológico y que están relacionadas con el mundo de Internet y las TICs. Debido a estas características las startups tecnológicas suelen diferenciarse de otras empresas jóvenes en sus posibilidades de crecimiento y necesidades de capital. ¿Cuáles son las fuentes de financiación de las startups? La gran mayoría de startups no utilizan fuentes de financiación tradicionales como pueden ser créditos de bancos y otros vehículos similares, optando por capital aportado por inversores a cambio de un porcentaje de la empresa. La tipología de inversores en el mundo del emprendimiento es muy amplia y va desde los FFF (friends, family y fools), que suelen ser claves en los primeros años de vida, hasta el Venture Capital o Private Equity que aportan fondos en etapas más avanzadas. Las etapas de financiación de las startups se diferencian de la siguiente manera: 1º. Etapa de...
Words: 824 - Pages: 4
...“Where to play is about understanding possible playing fields and choosing between them. It is about selecting regions, customers, products, channels, and stages of production that fit well together – they are mutually reinforcing and that marry well with customer needs” and I would add “… and for which customers have a Willingness to Pay at the price point that will yield profits and not losses. Do you agree with this statement universally? In other words, why couldn’t an established firm test many new and diverse “playing fields” with very small beta tests via prototype new products and services? Or could the established firm do both simultaneously? W.L. Gore is a great start-up firm story Robert. I wonder how they were able to test and use their products in those very different markets without pulling to many resources (mainly R & D) from its original core-product PTFE in the wire & cable industry? It would also be very interesting to find out how they balanced their current commitments to buyers while they tested new applications of their product in different industries, especially in the beginning phases of the business. Gore serves a very diverse customer base with a lot of different needs. My bet is a big key to their success and strategy choice was finding “where not to play” as you stated earlier in your discussion post. I agree beta testing on new products provide the established firm “Where to Play” choices on what can be done to expand the enterprise...
Words: 344 - Pages: 2
...I had 3 months of compulsory internship (graded in the college curriculum) and another two months of holidays which I could include in the above mentioned time. Like any college kid, I was confused where I should intern. Seniors and family in IT field advised big companies are good for CV and shall help get a better paid job but no substantial work shall be given. While, at startups I was sure to get enough work and responsibilities. Very frankly, I want to startup something of my own later or sooner, I wanted to experience the heat faced while running one! Thanks to my dear friend @annkur, I got my internship at PriceBaba.com. I regret my decision. NOT. Sharing some of the memories below which made this internship an awesome experience: * Friends at a bigger company got an ID card, different from permanent employees and after weeks of sharing. I got the office keys, first day when I join! * I learnt everyone at a startup should have their designation as C2C – Clerk to CEO. Everyone has to wash plates (even the CEO) and everyone (including ground-staff) has some essential decision-making powers. * I get to work, a lot. Not many consider it as a plus but I guess I am some different kind of an idiot. During my time at PriceBaba, I was involved in a technical project, sales, content, marketing (social and offline), HR and what not! * The HR part reminds me of the best experience I had. I got to interview an IITian for a job at the company and even reject him!...
Words: 419 - Pages: 2
...Startup Web 2.0 Opportunity Statement:- John (my friend) is planning a startup to provide services towards home-finding and mortgage process until the mortgage application closes, and home funds. Background:- John has sent an email wanting to get some suggestions/feedback/ideas in his start-up initiative. And the below is the response articulating the proposal to implement some features/capabilities by leveraging the Web 2.0/Enterprise 2.0 technologies. Narration:- John, Glad to know that you are on your way to launching yet another start-up after a decade or so. Based on your email, my understanding is that you want to provide services right from time prospect home buyer can search for properties/homes, get pre-approval, look for best rates and mortgage lenders, upload documents and get underwriting approval. Further, close the mortgage all at one place. Certainly, there has been a good amount of progress seen on the Internet. There have been changes in the way organizations have been or will be conducting business, and this is just adjusting/responding to the way customers, employees, partners, etc. have been using the latest advancement in technology. Probably, launching web-site to provide these services will be a good start. Being adaptive to way people have been lately shopping, searching i.e. here are some of the necessary capabilities critical to be incorporated by leveraging Web2.0 technologies:- 1. Broad communication (Blogs/podcasts/videocasts/peer...
Words: 694 - Pages: 3
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ross Revenues 2. Less: Cost of Goods Sold 3. Gross Margin 4. Operating Expenses 5. Salaries & Benefits 6. Rent & Utilities 7. Other Expenses 8. Depreciation 9. Total Operating Expenses 10. Net Income Before Interest & Tax 11. Net Interest Income (Expense) 12. Tax Expense 13. Net Income (Loss) 1,000 600 400 100.0% 60.0% 40.0% 200 20 40 28 288 112 (5) 30 20.0% 2.0% 4.0% 2.8% 28.8% 11.2% (0.5%) 3.0% 77 7.7% / ) 6 , 3 4 7 4 0 E 4 < / 0 E G G $ 3 8 9 $ 3 0 E 4 ? 7 7 H0 E ...
Words: 817 - Pages: 4
...Putting aside Estonia’s problems with migration, it has been one of the major success stories of Europe over the last few years. The existing government is relatively stable considering the extreme austerity measures they rolled out. The country has a history of being one step ahead of the rest in terms of technology, being the first country in the world to use online voting for the national parliamentary elections. In addition to that, they have impressive statistics showing that the country is producing more technology start-ups per capita than any other EU country. One of the more famous start-ups is of course Skype, and to ensure this trend is maintained, the Estonian government is now seeking to educate children in computer programming from as young as seven years of age as part of the school curriculum. They’ve also introduced Smartlab, a public/private partnership with companies including Microsoft, which will see the creation of hobby groups for 10-19 year olds to get instruction in robotics, programming and mobile app and web design. There is no corporate tax on re-invested profits which is promoting long term investment. Their corporate tax rate has been falling continuously since 2004 when it was at 26%. It’s now at 21% but will be dropped to 20% in 2015. In terms of large scale manufacturing and distribution, the country has quick access to the Baltic Sea ports and has its own. With regard to energy security a forcible decrease in the oil shale share of the country's...
Words: 306 - Pages: 2
...Introduction to Business Group Number: 1 Section: C Business Name: “Celebrations” (A Children’s Event Management Company) Celebrations A Children’s event management company Executive summary This project is designed for the class of Introduction to Business. We have planned a complete business that is to be launched in the market. It is logical and would be entirely feasible if we would have started the business in real life. Our business is a children’s event management company that is designed to organize birthdays and other casual parties for children. Our target market in this business is parents; our purpose is to provide the ease for parents when it comes to planning and arranging parties for their children. In this report we introduce the basics of our business; we explain our business mission, goals and objectives, marketing plan, operations of business, SWOT analysis, product life cycle, financial plan etc. The cash we started with was 100,000. Our goal is to earn 50,000 every month with a saving of 15,000. Acknowledgements We would like to express our gratitude to all those who gave us the possibility to complete this project. We are heartily thankful to them for their guidance and support from the initial to the final level. Their contribution enabled us to develop a better understanding of the project. First of all we would like to thank Allah all mighty, the most beneficent and the most merciful. Without him, we would not have been capable...
Words: 5035 - Pages: 21
