In this age of globalization, many big player companies begun as a startup like LinkedIn, Uber, Khan Academy, and many more. Startup is defined as newly born enterprises with one to two years of existence in the market from its making. For a startup to successfully debut, it must pass various detailed screeningand planning processes before it gets accepted by astartup hub prior to development.
Startup: Defined
A startup hub aids these aspiring enterprises in finding their right investors who shareda common goalcommitment—to change the world. The first process of screening involves the presentation of the ideation to a set of panel members for review followed by planning through creating a business model and product roadmap. Then,conducting a due diligence on the people behind the idea. And lastly, the issuance of term sheet wherein legal due diligence is performed.
From the formation to the validation of an enterprise up to its growth, there will be a direct involvement from well-experienced entrepreneurs and specialists from different disciplines to guide the startupto its splendid metamorphosis and equipping its founders and people with the required skills on entrepreneurship and technology. The latter is executedbecause the growth and death rate of an enterprise is directly dependent on the decisiveness and resiliency of the originators, especially during crucial times.
Most of the startups are technology-based
This is due to its large acquisition of return of investment (ROI) in a short period of time. As many people are turning to technology, many young innovators and entrepreneurs are grounding from it, too, due to its ease of accessibility and wide range of connection by providing technology-based solutions to the current problems.
Startup popularity is the bomb
Over the years, the birth of startups is increasing globally and so far many have taken part. The number of successful startupsdepict the country’s technological advancements, market feasibility, and economic stability.
Among the countries in the world with highest number of successful startups, the seed funding UK is aggressively growing annually which puts UK in the 4thplace garnering a 2.5% share of billion dollars startups (unicorns) in recent startup index of nations and regions report of the University of Southern California (USC). This is because UK is one of countries with highest technological expertise and foreign direct investment (FDI) that provides opportunities to startups to be funded by foreign and local angels or investors after itsbeing proven to be feasible during its conceptualization stage.
Startups are truly game changers for different sectors, especially on finance, health, ecommerce, anddigital marketing. The presence of a reliable and efficient startup hubs creates ripples of positive effect on the economy of the country as it provides opportunitiesto new investments and employment.
