As new technologies revolutionize how we see the world and work, entrepreneurship is changing, giving rise to startups. Here we tell you what startups are all about.
New companies spring up every day to offer products and services, especially in agriculture, telecommunications and energy. However, companies called startups stand out from the rest for how they harness information and communication technology (ICT)
What is “Lean startup”?
It’s an experiment-based methodology where feedback drives process optimization and product and service enhancement to meet customers’ needs.
What is a startup?
A startup is a new company with a high growth potential owing to its scalable business model and use of new technologies. Startups have gone from strength to strength in recent years. According to Statista, the number of fintechs (finance startups) in the Americas had risen from some 5,700 in 2018 to over 10,700 by the end of 2021. Europe, the Middle East and Africa alone are home to more than 9,300 fintechs.
Here's how startups differ from SMEs: