A startup company (startup or start-up) is an entrepreneurial venture typically describing newly emerged, fast-growing business. Definition of the startup usually refers to a company, a partnership or an organization designed to rapidly develop scalable business model. Often, startup companies deploy advanced technologies, such as Internet, communication, robotics, etc. These companies are generally involved in the design and implementation of the innovative processes of the development, validation and research for target markets. The term became internationally widespread during the dot-com bubble when a great number of dot-com companies were founded
The exact definition of "startup" is widely debated, however at their core most definitions are similar to what the U.S. Small Business Administration describes as a "business that is typically technology oriented and has high growth potential"
One popular definition by Steve Blank and Bob Dorf defines a startup as an "organization formed to search for a repeatable and scalable business model.". In this case "search" is intended to differentiate established late-stage startups from small businesses, such as a restaurant operating in a mature market. The latter implements a well-known existing business strategy whereas a startup explores an unknown or innovative business model in order to disrupt existing markets, as in the case of Amazon, Uber or Google. Blank and Dorf add that startups are not smaller versions of larger companies: a startup is a temporary organization designed to search for a product/market fit and a business model, while in contrast, a large company is a permanent organization that has already achieved a product/market fit and is designed to execute a well-defined, fully validated, well-tested, proven, verified, stable, clear, unambiguous, repeatable and scalable business model. Blank and Dorf further say that a startup essentially goes from failure to failure in an effort to learn from each failure and discover what does not work in the process of searching for a repeatable, high growth business mode