What is Startup? What Does Unicorn Startup Mean?

The term Startup, which first appeared in the USA in the early 2010s, spread around the world in a short time. For the term "startup", the concepts of "new venture" or "entrepreneurship" are suggested, but it is widely used in the foreign literature in the sector.

What is Startup?

Every day a large number of users ask “What does Startup mean?” is asking the question. Startup, which started in Silicon Valley in the USA and then spread all over the world, is simply a business model trend. As a word, it is a term that means "companies that take action from the ground up". Although it is referred to as "new venture" in our literature, many people refer to the term as "startup".

Startup companies appeal to large audiences. They also deliver the service they provide to the user as soon as possible. Although it is known that its projects are mostly in the fields of software and technology, there are also startup companies that provide services in the fields of marketing and finance. On the other hand, there are also startup companies that produce products that address the needs of users.

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The United States is known as the country with the highest volume of startup ventures. This number is followed by India, England, Germany and France. Quite successful startups have been established in Turkey, especially in the fields of service and technology, and they draw attention by reaching a large audience and getting better and better.

What Does Unicorn Startup Mean?

The concept of “Unicorn startup” covers private companies with a value of over 1 billion dollars in the field of entrepreneurship. The term unicorn startup was first coined by a California-based startup fund. It was popularized in 2013 by venture capital investor Alieen Lee, founder of Cowboy Ventures. In order to describe the companies in question, which are seen very rarely with the researches, the term "unicorn" corresponds to the concept of "Unicorn Startup".

Unicorn startup features do not include leadership in a single domain. Unicorn startups are known for being a term that represents various industries. Covering a variety of fields including food, fashion, software, fintech, biotechnology, and transportation, unicorn companies are highly involved, particularly in four different fields. Fintech is one of these areas. In addition to this technological field where improvement of usage is important, e-commerce and Monday sectors are also included in this field. It can address a wide area from genetic technology to space technology.

What Do Successful Startups Have in Common?

When successful startup examples are examined, it can be seen that one of the most important building blocks of realizing this is the original idea. Innovative and creative people can make a successful startup. However, only the original idea is not enough for a successful startup. In addition to the creative and unique idea, the concept of the team is undoubtedly important.

A team of people who support each other with new ideas, work in harmony with each other and understand the world; It can be said that it is a must for a successful startup. It is important that the idea required for the startup is specific and that there is an appropriate workforce for it. Processes such as the production of the product and its presentation to the user bring that startup to life.

It is known that the most important building block for startup projects is the team. A good team builds a good company and a good job comes out. Investors, who are aware of how important the team is for the startup, often prefer to invest for it. Teams that can collaborate harmoniously together and successfully solve crisis moments by generating creative ideas are very important for startup ideas.

Various researches are conducted among startup companies in America. As a result of these analyzes, it is revealed that the idea that brings the greatest success is the focus of finding solutions and space. It points to startups that make the user's life easier by providing these 2 purposes. After that, start-ups come in terms of organization and purchasing. In addition, after a startup entrepreneur determines what the service or product will be, attention should be paid to the start time of the project as much as possible. Because realizing the project at the wrong time can lead to undesirable and disappointing results. It may be too late for the project or the world may not be ready for this idea. Successful startups develop as a result of sharing a prototype with consumers after all observations are completed. Promising startups are always ready to invest and succeed.

Briefly, the following points are very important in order to create a successful startup venture;

• Effective teamwork and collaboration
• Being creative, innovative and versatile
• Reaching out to large audiences
• Being focused on technology
• Grow and continually improve