WHAT IS A STARTUP?
We can call a StartUp a fast-growing venture that is established to meet a specific market demand, offering an innovative product or service. This oft-encountered concept predominantly involves small businesses and partnerships that have put in place a scalable business standard. Startups usually start with high costs but limited revenues and therefore seek capital from various sources, such as venture capitalists, and are backed by funds.
WHAT IS A SCALEUP?
What kind of companies are called ScaleUps? What are the differences between StartUps and ScaleUps? We would like to clarify this issue. According to the OECD (Organization for Economic Cooperation and Development), businesses with at least 10 staff and an average annual growth rate of more than 20% for three years can be called ScaleUp. These growth figures are measured by the number of employees and turnover. Therefore, ScaleUp refers to businesses that have achieved a certain level of revenue and business model stability and are experiencing incremental growth. In the table we prepared, we mentioned the differences between StartUp and ScaleUp.