During my efforts to research what defines a startup, I came across loads more definitions but thought I would just share these two with you.
The first definition, startups.co.uk, a site run by Crimson Business, an information media company (presumedly because entrepreneurs are too busy with their own business to put a site together?). On their startup 100 page, their definition of a start-up is:
with the only solid criteria being that we’d define ‘start-up‘ as trading post-2005 (we had to draw the line somewhere)
Trading post 2005? A pity as I know a number of companies that start-up a new software product range within their existing business.
The site itself is overall useful up to a point, the target audience being anyone interested in starting up any kind of business makes it hard to find the gems of information for a specific industry sector. The site advertising gets rather annoying after a while and its quite ‘busy’ as a site on the eyes.
The second definition, is by Microsoft and their scheme BizSpark which has been running for a few months now which lends a helping hand on the technology front and they qualify start-ups as:
companies that have been operating for under three years and with a turnover of under $1m.
A nice deal from Microsoft unless you don’t want to be tied into their technology platform – not very ‘LAMP’ orientated. Under $1m? Well with the current exchange rates, uk startups have a chance of being under that limit for longer.
In short, it seems that operating period is the most popular as its clear cut, with a chunk of revenue thrown in for good measure.