To have a meaningful conversations, it is important to have a common language. Below are systems and definitions we use as an ecosystem.
Start Up Commons
Startup Commons is an open standard to discuss the phases of growth that a startup company experiences. It is a framework for understanding the common needs of startup ventures at similar stages of development. Not every company follows this exact progression, and some companies may identify certain elements of their business which are represented in different stages.
Definitions
ENTREPRENEUR - One o the oldest definitions for entrepreneurs comes from France and was published in 1723: An individual that combines Leadership, Innovation, and Initiative in New Venture design. Entrepreneur.com defines an entrepreneur as an individual taking on greater than normal risk in new venture design. All entrepreneurs are business owners (or become business owners should they decide to commit to an idea and take it to market), but not all business owners are entrepreneurs.
ENTREPRENERUIAL VENTURE - Entrepreneurial Ventures are distinct from traditional business ventures in their desire to scale rapidly, enter new or massively under-served markets, or those with disruptive innovations that desire to replace traditional industries.
INNOVATION - Innovation is best described as Invention + Commercialization. It is the process making something new, remaking something that exists, or a combination thereof, to market. Innovation is more than just the creation or application of technology, it may include social, process, and business model among others. The technology is often less valuable than the business, process, or societal innovation that underlies it.
SCALING/SCALABILITY - A scalable business is one which can manage growth at a very rapid rate by performing well with an increased demand in services. Scalability is the opportunity that exists given the characteristics of the business.
ENTREPRENERUIAL VENTURE - Entrepreneurial Ventures are distinct from traditional business ventures in their desire to scale rapidly, enter new or massively under-served markets, or those with disruptive innovations that desire to replace traditional industries.
INNOVATION - Innovation is best described as Invention + Commercialization. It is the process making something new, remaking something that exists, or a combination thereof, to market. Innovation is more than just the creation or application of technology, it may include social, process, and business model among others. The technology is often less valuable than the business, process, or societal innovation that underlies it.
SCALING/SCALABILITY - A scalable business is one which can manage growth at a very rapid rate by performing well with an increased demand in services. Scalability is the opportunity that exists given the characteristics of the business.
