In 2007, when I first met Hesham Salman, he just had an idea: starting a company that would put the value of his thorough knowledge of polymer nanoencapsulation by applying them to multiple sectors. It was an idea that was more than innovative, it was quite disruptive: it consisted in the application of nanotechnology techniques to biotechnology, pharmacology, food manufacturing, fertilizer, etc. Continue Reading…
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A couple of years ago I attended a conference where I was struck by something that Honorio Ros, founder of the startup Laexperiencia.com, said, “being from a big family helped me as an entrepreneur”. He explained that thanks to his large extended family, he had convinced some of them to invest in his startup. He was sure that without the economic support from his family, he would not have been able to launch his startup.
The way Honorio received financing is known as the three F’s (or FFF), family, friends and fools. Continue Reading…
– It is a company that uses scientific and technological knowledge systematically and continuously to produce new goods or services with high added value.
– They mainly operate in top-level strategic sectors, such as microelectronics, biotechnology, medical device, nanotechnology, etc.
– They perform R & D in-house or in close cooperation with universities and research centers.
– Many start-ups are not technology-based companies.
– Similar terms: knowledge-based companies, new technology-based firms.
- Why do we need technology-based companies?
- What is a startup?
- What is a Technology Startup?
- EIBT-Sudoe European project for the development of technology-based companies.
- Definition and evolution of the term technology-based company (in madrimasd.org Spanish blog)
A couple of years ago, when I started reading about “lean startup“, the entrepreneurship methodology by Eric Ries, I remembered a story from my school days that may serve to illustrate the basic features of this methodology.
When I was ten, Santa Claus never brought me my Scalextric car racing game, instead gave me a useful stapler. When we were in class and an assignment needed to be stapled, we used to ask the teacher to do it for us with his own stapler. So with my new gift, my classmate and I decided to make several small writing notebooks that would serve to help us remember our assignments. Continue Reading…
These days are special for those of us who live in Pamplona. The city is transformed for nine days during the festival of San Fermin.
Humorously I can say that the skills needed to enjoy the Festival are similar to those that startups entrepreneurs require: Continue Reading…
A startup is an innovative and newly created company with high potential for growth. These companies are in their first stage of development and are also innovative. So they have both a high risk of faillure and an enormous potential of benefit.
Another good complementary definition is offered by Steve Blank : “A startup is a temporary organization designed to search for a repeatable and scalable businessmodel”:
- Temporary organization: a startup always, sooner or later, finishes its launching phase and if it is successful, it leads into the growth phase and if not … it shuts down (or even worse if its founders decide not to close it, then it becomes a zombie startup). But even the last case, it is no longer a startup because it is no longer in its launching phase .
- Searching for a repeatable and scalable business model: we are talking about startups in the XXI century, when the pace of change accelerates and innovative companies have to deal with a highly uncertain environment. Entrepreneurs are hardly sure of their business model when launching a startup. They do create their startup to find the right business model, the one which generates recurring revenues (repeatable business model), and also the one which is able to grow and with revenues growing proportionately more than their expenses (scalable business model).
Some authors even say that a startup is not a company, is an experiment or a hypothesis
Finally I like to emphasize that although the concept remind us very often of dot.com companies, there are startups in different industries.
- Related issues: prototipe, concept test, test the business model, high mortality.
- Photo: KLAQ Ballon Fest 2012 by Alex Briseño. Flickr
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