If you listen to the tech media, the definition of a startup is pretty much:
- A technology company
- Funded by venture capital
- Geared toward some kind of “exit” event (either acquisition or IPO, more often the former)
But the reality is that a startup can be any number of different kinds of businesses. The nature of a “startup” as opposed to simply a small or new business is — according to Paul Graham, the co-founder of Y Combinator — that it is designed for growth, and that it is in place to test the models that will fuel that growth.
By that definition, there are a heck of a lot more startups out there than you’ll ever read about in the cover story for Fast Company. [Read more…]