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106-526: Startups working on high technologies (or developing new high technologies) are sometimes referred to as deep tech ; the term may also refer to disruptive innovations or those based on scientific discoveries. High tech, as opposed to high-touch , may refer to self-service experiences that do not require human interaction. The phrase was used in a 1958 The New York Times story advocating " atomic energy " for Europe: "... Western Europe, with its dense population and its high technology ...." Robert Metz used

212-404: A minimum viable product (MVP), i.e. a prototype , to develop and validate their business models. The startup process can take a long period of time; hence, sustaining effort is required. Over the long term, sustaining effort is especially challenging because of the high failure rates and uncertain outcomes. Having a business plan in place outlines what to do and how to plan and achieve an idea in

318-674: A Stanford's research park became a veritable startup avalanche... Thus, over the course of just 20 years, a mere eight of Shockley's former employees gave forth 65 new enterprises, which then went on to do the same... Startup advocates are also trying to build a community of tech startups in New York City with organizations like NY Tech Meet Up and Built in NYC. In the early 2000s, the patent assets of failed startup companies were being purchased by people known as patent trolls , who assert those patents against companies that might be infringing

424-507: A balanced "risk/reward" profile (in which high risk due to the untested, disruptive innovations is balanced out by high potential returns) and "scalability" (the likelihood that a startup can expand its operations by serving more markets or more customers). Attractive startups generally have lower " bootstrapping " (self-funding of startups by the founders) costs, higher risk, and higher potential return on investment . Successful startups are typically more scalable than an established business, in

530-423: A business partner) in a market with a dominant design (a clear standard is applied in this market). In contrast to this, profile is the originator which has a management style that is highly entrepreneurial and in which a radical invention or a disruptive innovation (totally new standard) is being developed. This profile is set out to be more successful (in finding a business partner) in a market that does not have

636-537: A company or organization, which solicits and recruits qualified individuals who are willing to mentor, provides training to the mentors, and helps to match the mentors with a person in need of mentoring. While formal mentoring systems contain numerous structural and guidance elements, they usually allow the mentor and mentee to have an active role in choosing who they want to work with. Formal mentoring programs that simply assign mentors to mentees without allowing input from these individuals have not performed well. Even though

742-424: A company's value is based on its technology, it is often equally important for the business owners to obtain intellectual property protection for their idea. The newsmagazine The Economist estimated that up to 75% of the value of US public companies is now based on their intellectual property (up from 40% in 1980). Often, 100% of a small startup company's value is based on its intellectual property. As such, it

848-402: A distinct third factor. In mentoring for college success , a fourth function concerning knowledge transfer was additionally identified, which was also discovered in the context of mentoring creativity . There are also many benefits for an employer to develop a mentorship program for new and current employees: Hetty van Emmerik did a similar study that looked at the effects of mentorship in

954-441: A dominant design (established standard). New startups should align themselves to one of the profiles when commercializing an invention to be able to find and be attractive to a business partner. By finding a business partner, a startup has greater chances of success. Startups usually need many different partners to realize their business idea. The commercialization process is often a bumpy road with iterations and new insights during

1060-456: A dysfunctional founding team, a poor business plan, or just a flawed product-market fit as examples of the primary sources of failure. The lack of human and financial resources or even dedicated patent attorneys in the early stages of a startup makes it difficult to compete with larger companies, and likewise increases the time and reduces the probability of patent applications. Failed entrepreneurs, or restarters, who after some time restart in

1166-772: A form of online investing that has been legalized in several nations, startups did not advertise themselves to the general public as investment opportunities until and unless they first obtained approval from regulators for an initial public offering (IPO) that typically involved a listing of the startup's securities on a stock exchange . Today, there are many alternative forms of IPO commonly employed by startups and startup promoters that do not include an exchange listing, so they may avoid certain regulatory compliance obligations, including mandatory periodic disclosures of financial information and factual discussion of business conditions by management that investors and potential investors routinely receive from registered public companies. Over

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1272-470: A framework for explaining the achievement gap. Resilience does not provide a solution to the struggles and trauma that these students experience, but instead focuses on giving them the tools to adapt to these situations and respond to them in ways that avoid negative outcomes and enables them to grow stronger and learn from the experience. Protective factors "modify or transform responses to adverse events so that [students] avoid negative outcomes" and encourage

1378-414: A genuine relationship create their additional roles as a mentor and advocate—an extra familial support system that can serve as an additional protective factor. A supportive adult can help reduce the negative impact of certain events and risk factors while strengthening the positive factors that help them cope effectively. Some of the components that facilitate the development of resilience when combined with

1484-654: A hands-on, practical fashion, about the organization's structure, culture, and methods. Learners are matched with mentors by a designated mentoring committee that usually consists of senior members of the training, learning and development group and/or the human resources departments The matching committee reviews the mentors' profiles and the coaching goals sought out by the learners and makes matches based on areas for development, mentor strengths, overall experience, skill set, location, and objectives. Mentoring technology, typically based on computer software, can be used to facilitate matches allowing learners to search for and select

1590-489: A huge speed before running out of resources. Proactive actions (experimentation, searching, etc.) enhance a founder's learning to start a company. To learn effectively, founders often formulate falsifiable hypotheses , build a minimum viable product (MVP), and conduct A/B testing . With the key learnings from market validation, design thinking, and lean startup, founders can design a business model. However it's important not to dive into business models too early before there

1696-812: A key principle for startups is to be agile and flexible. Founders can embed options to design startups in flexible manners, so that the startups can change easily in future. Uncertainty can vary within-person (I feel more uncertain this year than last year) and between-person (he feels more uncertain than she does). A study found that when entrepreneurs feel more uncertain, they identify more opportunities (within-person difference), but entrepreneurs who perceive more uncertainties than others do not identify more opportunities than others do (no between-person difference). Startups may form partnerships with other firms to enable their business model to operate. To become attractive to other businesses, startups need to align their internal features, such as management style and products with

1802-513: A lack of financing or investor interest. These common mistakes and missteps that happen early in the startup journey can result in failure, but there are precautions entrepreneurs can take to help mitigate risk. For example, startup studios offer a buffer against many of the obstacles that solo entrepreneurs face, such as funding and insufficient team structure, making them a good resource for startups in their earliest phases. Another large study of 160.000 failed companies, identified key factors such as

1908-514: A lean startup focuses on a few lean principles: A key principle of startup is to validate the market need before providing a customer-centric product or service to avoid business ideas with weak demand. Market validation can be done in a number of ways, including surveys, cold calling, email responses, word of mouth or through sample research. Design thinking is used to understand the customers' need in an engaged manner. Design thinking and customer development can be biased because they do not remove

2014-408: A less experienced and often younger person. In an organizational setting, a mentor influences the personal and professional growth of a mentee. Most traditional mentorships involve having senior employees mentor more junior employees, but mentors do not necessarily have to be more senior than the people they mentor. What matters is that mentors have experience that others can learn from. According to

2120-438: A mentor and a mentee may seem perfectly matched "on paper", in practice, they may have different working or learning styles. As such, giving the mentor and the mentee the opportunity to help select who they want to work with is a widely used approach. For example, youth mentoring programs assign at-risk children or youth who lack role models and sponsors to mentors who act as role models and sponsors. In business, formal mentoring

2226-668: A mentor based on their own development, coaching needs, and interests. This learner-driven methodology increases the speed of matches being made and reduces the amount of administrative time required to manage the program. The quality of matches increases with self-match programs because mentorships tend to be more successful when the learner is involved in selecting their mentor. There are a variety of online mentoring technology programs available that can be used to facilitate this mentee-driven matching process. In speed networking , Mentors and learners are introduced to each other in short sessions, allowing each person to meet potential matches in

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2332-404: A mentor's network and developing one's own is central to advancement", which likely explains why those mentored tend to do well in their organizations. In the organizational setting, mentoring usually "requires unequal knowledge", but the process of mentorship can differ. Bullis describes the mentoring process in the form of phase models. Initially, the "mentee proves himself or herself worthy of

2438-579: A mentoring profile. Mentoring profiles are completed as written forms on paper or computer or filled out via an online form as part of an online mentoring system. Learners are matched with a mentor by a program administrator or a mentoring committee, or they may self-select a mentor depending on the program format. Informal mentoring takes place in organizations that develop a culture of mentoring but do not have formal mentoring in place. These companies may provide some tools and resources and encourage managers to accept mentoring requests from more junior members of

2544-429: A new Accelerator investment model was introduced by Y Combinator that combined fixed terms investment model with fixed period intense bootcamp style training program, to streamline the seed/early-stage investment process with training to be more systematic. Mentorship Mentorship is the patronage, influence, guidance, or direction given by a mentor. A mentor is someone who teaches or gives help and advice to

2650-652: A new business. Startups use several action principles to generate evidence as quickly as possible to reduce the downside effect of decision biases such as an escalation of commitment, overconfidence, and the illusion of control. Many entrepreneurs seek feedback from mentors in creating their startups. Mentors guide founders and impart entrepreneurial skills and may increase the self-efficacy of nascent entrepreneurs. Mentoring offers direction for entrepreneurs to enhance their knowledge of how to sustain their assets relating to their status and identity and strengthen their real-time skills. There are many principles in creating

2756-430: A percentage of monthly revenue. Venture capital firms and angel investors may help startup companies begin operations, exchanging seed money for an equity stake in the firm. Venture capitalists and angel investors provide financing to a range of startups (a portfolio), with the expectation that a very small number of the startups will become viable and make money. In practice though, many startups are initially funded by

2862-694: A person who is perceived to have less (the protégé). Mentoring in Europe has existed as early as Ancient Greek . The word's origin comes from Mentor , son of Alcimus in Homer 's Odyssey . Since the 1970s it has spread in the United States mainly in training contexts, associated with important historical links to the movement advancing workplace equity for women and minorities and has been described as "an innovation in American management". The word

2968-434: A powerful team: the product person (e.g. an engineer), a marketing person (for market research , customer interaction, vision) and a finance or operation's person (to handle operations or raise funds). The founder that is responsible for the overall strategy of the startup plays the role of founder-CEOs, much like CEOs in established firms. Startup studios provide an opportunity for founders and team members to grow along with

3074-404: A range of roles. Articulating these roles is useful not only for understanding what role an employee plays, but also for writing job applications. Two of Schein's students, Davis and Garrison, studied successful leaders who differed in ethnicity and gender. Their research presented evidence for the roles of: cheerleader, coach, confidant, counsellor, developer of talent, "griot" (oral historian for

3180-785: A sample of 101 unsuccessful startups, companies reported that experiencing one or more of five common factors were the reason for failure; the lack of consumer interest in the product or service (42% of failures), funding or cash problems (29%), personnel or staffing problems (23%), competition from rival companies (19%) and problems with pricing of the product or service (18%). In cases of funding problems, it can leave employees without paychecks. Sometimes, these companies are purchased by other companies if they are deemed to be viable, but oftentimes, they leave employees with very little recourse to recoup lost income for worked time. More than one-third of founders believe that running out of money led to failure. Second to that, founders attribute their failure to

3286-471: A startup, there are different types of stages in which the investor can participate. The first round is called seed round . The seed round generally is when the startup is still in the very early phase of execution when their product is still in the prototype phase. There is likely no performance data or positive financials as of yet. Therefore, investors rely on strength of the idea and the team in place. At this level, family friends and angel investors will be

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3392-408: A startup. Some of the principles needed are listed below: Lean startup is a clear set of principles to create and design startups under limited resources and tremendous uncertainty to build their ventures more flexibly and at a lower cost. It is based on the idea that entrepreneurs can make their implicit assumptions about how their venture works explicit and empirically testing it. The empirical test

3498-636: A strong adult-student relationship include afterschool programs, more challenging classes, peer support programs, summer programs, and gifted programs. By getting to know students better—especially their home life and individual circumstances—teachers and counselors can provide specific support to each student by looking beyond their disadvantaged backgrounds, recognizing their abilities, nurturing their strengths, and maintaining high expectations. Instructional coaches are former teachers or principals that have shown effectiveness in their work of teaching or leading and go through additional training to learn more about

3604-482: A study by Daniel Levinson , research in the 1970s led some women and African Americans to question whether the classic "white male" model was available or customary for people who are newcomers in traditionally white male organizations. In 1978 Edgar Schein described multiple roles for successful mentors. He identified seven types of mentoring roles in his book Career Dynamics: Matching individual and organizational needs (1978). He said that some of these roles require

3710-433: A very short timeframe. Speed networking occurs as a one-time event in order for people "to meet potential mentors to see if there is a fit for a longer term engagement". Mentoring direct reports may be considered a form of Transformational Leadership, specifically that of Individualized Consideration. Mentoring in education involves a relationship between two people where the mentor plays a supportive and advisory role for

3816-483: Is a significant part of several economies. The Israeli economy has the highest ratio in the world, with the high tech sector accounting for 20% of the economy. High tech makes up 9.3% of the American economy according to Statista and CTech . Multiple cities and hubs have been described as global startup ecosystems . GSER publishes a yearly ranking of global startup ecosystems. The study does yearly reports ranking

3922-424: Is affordable loss. Because of the lack of information, high uncertainty, and the need to make decisions quickly, founders usually use many heuristics and exhibit biases in their leadership decisions. Entrepreneurs often become overconfident about their startups and their influence on an outcome (case of the illusion of control ). Below are some of the most critical decision biases of entrepreneurs to start up

4028-738: Is considered to be a "strong" startup ecosystem. One of the most famous startup ecosystems is Silicon Valley in California, where major computer and internet firms and top universities such as Stanford University create a stimulating startup environment. Boston (where Massachusetts Institute of Technology is located) and Berlin , home of WISTA (a top research area), also have numerous creative industries , leading entrepreneurs and startup firms. Basically, attempts are being made worldwide, for example in Israel with its Silicon Wadi , in France with

4134-485: Is effective in increasing the entrepreneurial attitudes and perceived behavioral control, helping people and their businesses grow. Most of startup training falls into the mode of experiential learning, in which students are exposed to a large extent to a real-life entrepreneurship context as new venture teams. An example of group-based experiential startup training is the Lean LaunchPad initiative that applies

4240-482: Is elusive, with more than 50 definitions currently in use, such as: Mentoring is a process for the informal transmission of knowledge, social capital , and the psychosocial support perceived by the recipient as relevant to work, career, or professional development; mentoring entails informal communication, usually face-to-face and during a sustained period of time, between a person who is perceived to have greater relevant knowledge, wisdom, or experience (the mentor) and

4346-416: Is important for technology-oriented startup companies to develop a sound strategy for protecting their intellectual capital as early as possible. Startup companies, particularly those associated with new technology, sometimes produce huge returns to their creators and investors—a recent example of such is Google, whose creators became billionaires through their stock ownership and options. When investing in

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4452-758: Is one of many talent management strategies that are used to groom key employees, newly hired graduates, high-potential employees, and future leaders. Matching mentors and mentees is often done by a mentoring coordinator with the help of a computerized database registry, which usually suggests matches based on the type of experience and qualifications being sought. There are formal mentoring programs that are values-oriented, while social mentoring and other types focus specifically on career development. Some mentorship programs provide both social and vocational support. In well-designed formal mentoring programs, there are program goals, schedules, training (for both mentors and protégés), and evaluation. Informal mentoring occurs without

4558-502: Is seen as useful for people who are "non-traditional" in a traditional setting, such as non-white people and women in a traditionally white male organization. The idea has been well received in medical education literature. Corporate mentoring programs may be formal or informal and serve a variety of specific objectives, including the acclimation of new employees, skills development, employee retention , and diversity enhancement. The relationship between mentoring, commitment, and turnover

4664-429: Is sufficient learning on market validation. Paul Graham said: "What I tell founders is not to sweat the business model too much at first. The most important task at first is to build something people want. If you don't do that, it won't matter how clever your business model is." Founders or co-founders are people involved in the initial launch of startup companies. Three people are mainly required as co-founders to create

4770-468: Is the fostering of resilience . Resilience has been found to be a useful method when working with students from low socioeconomic backgrounds who often encounter crises or challenges and suffer specific traumas. Education, students' performance, and achievement in school are directly affected by these challenges, so certain negative psychological and environmental situations that students from lower socioeconomic backgrounds disproportionately encounter provide

4876-456: Is to de/validate these assumptions and to get an engaged understanding of the business model of the new ventures, and in doing so, the new ventures are created iteratively in a build–measure–learn loop. Hence, lean startup is a set of principles for entrepreneurial learning and business model design. More precisely, it is a set of design principles aimed for iteratively experiential learning under uncertainty in an engaged empirical manner. Typically,

4982-498: The Christian church and apprenticeship under the medieval guild system. In the United States, advocates for workplace equity in the second half of the twentieth century popularized the term "mentor" and the concept of career mentorship as part of a larger social capital lexicon that also includes terms such as glass ceiling , bamboo ceiling , networking , role model and gatekeeper , which serves to identify and address

5088-705: The Great Depression , which was blamed in part on a rise in speculative investments in unregulated small companies, startup investing was primarily a word of mouth activity reserved for the friends and family of a startup's co-founders, business angels, and Venture Capital funds. In the United States, this has been the case ever since the implementation of the Securities Act of 1933 . Many nations implemented similar legislation to prohibit general solicitation and general advertising of unregistered securities, including shares offered by startup companies. In 2005,

5194-704: The Inovallée or in Italy in Trieste with the AREA Science Park , to network basic research, universities and technology parks in order to create a startup-friendly ecosystem. Although there are startups created in all types of businesses, and all over the world, some locations and business sectors are particularly associated with startup companies. The internet bubble of the late 1990s was associated with huge numbers of internet startup companies, some selling

5300-441: The "amount of psychosocial support, career guidance, role modeling and communication that occurs in the mentoring relationships in which the protégés and mentors engaged". The person receiving mentorship may be referred to as a protégé (male), a protégée (female), an apprentice , a learner or, in the 2000s, a mentee. Mentoring is a process that always involves communication and is relationship-based, but its precise definition

5406-462: The 2010s wore hoodies , sneakers and other casual clothes to business meetings. Their offices may have recreational facilities in them, such as pool tables, ping pong tables, football tables and pinball machines , which are used to create a fun work environment, stimulate team development and team spirit, and encourage creativity. Some of the casual approaches, such as the use of "flat" organizational structures, in which regular employees can talk with

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5512-764: The Business Dictionary, a mentor is a senior or more experienced person who is assigned to function as an advisor, counsellor, or guide to a junior or trainee. The mentor is responsible for offering help and feedback to the person under their supervision. A mentor's role, according to this definition, is to use their experience to help a junior employee by supporting them in their work and career, providing comments on their work, and, most crucially, offering direction to mentees as they work through problems and circumstances at work. Interaction with an expert may also be necessary to gain proficiency with cultural tools. Mentorship experience and relationship structure affect

5618-513: The Internet. Startups can receive funding via more involved stakeholders, such as startup studios. Startup studios provide funding to support the business through a successful launch, but they also provide extensive operational support, such as HR, finance and accounting, marketing, and product development, to increase the probability of success and propel growth. Startup are funded through preset rounds, depending on their funding requirement and

5724-672: The Socratic technique of harvesting to the accompaniment used in the apprenticeship of itinerant cathedral builders during the Middle Ages. Leadership authors Jim Kouzes and Barry Z. Posner advise mentors to look for "teachable moments" in order to "expand or realize the potentialities of the people in the organizations they lead" and underline that personal credibility is as essential to quality mentoring as skill. There are different types of mentors, such as: Formal mentoring relationships are set up by an administrative unit or office in

5830-467: The business or enterprise of an issuer; However, not every promoter is a co-founder. In fact, there is no formal, legal definition of what makes somebody a co-founder. The right to call oneself a co-founder can be established through an agreement with one's fellow co-founders or with permission of the board of directors, investors, or shareholders of a startup company. When there is no definitive agreement (like shareholders' agreement ), disputes about who

5936-537: The business they help to build. In order to create forward momentum, founders must ensure that they provide opportunities for their team members to grow and evolve within the company. The language of securities regulation in the United States considers co-founders to be promoters under Regulation D . The U.S. Securities and Exchange Commission definition of promoter includes: (i) Any person who, acting alone or in conjunction with one or more other persons, directly or indirectly takes initiative in founding and organizing

6042-422: The casual dress and playful office environment fool you. New enterprises operate under do-or-die conditions. If you do not roll out a useable product or service in a timely fashion, the company will fail. Bye-bye paycheck, hello eviction. Iman Jalali, chief of staff at ContextMedia Entrepreneurs often feel stressed. They have internal and external pressures. Internally, they need to meet deadlines to develop

6148-521: The co-founders are, can arise. Self-efficacy refers to the confidence an individual has to create a new business or startup. It has a strong relation with startup actions. Entrepreneurs' sense of self-efficacy can play a major role in how they approach goals, tasks, and challenges. Entrepreneurs with high self-efficacy—that is, those who believe they can perform well—are more likely to view difficult tasks as something to be mastered rather than something to be avoided. Startups are pressure cookers. Don't let

6254-499: The company's namesake and founder, Nobel laureate and co-inventor of the transistor William Shockley ... (His employees) formed Fairchild Semiconductor immediately following their departure... After several years, Fairchild gained its footing, becoming a formidable presence in this sector. Its founders began leaving to start companies based on their own latest ideas and were followed on this path by their own former leading employees... The process gained momentum and what had once begun in

6360-658: The context of difficult working situations. Several major findings were made as a result of this research: 1. Mentoring has been linked to improved job performance (i.e. intrinsic job satisfaction and career satisfaction). 2. Mentoring diminishes the negative association between unfavourable working circumstances and positive job outcomes, making the relationship stronger for those without a mentor than for those who have one. 3. Mentoring has been found to be negatively connected with all three characteristics of burnout (emotional weariness, depersonalization, and decreased personal accomplishment) employee outcomes. Partly in response to

6466-402: The courses and encourage them to make them into real startups should they wish to do so. Such mock-up startups, however, may not be enough to accurately simulate real-world startup practice if the challenges typically faced by startups (e.g. lack of funding to keep operating) are not present in the course setting. To date, much of the entrepreneurship training is yet to be personalized to match

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6572-438: The development of resilience. Their development enables students to apply them to challenges and engage in them positively that does not negatively affect their education, personal lives, or successes. Examples of these protective factors identified by Reis, Colbert and Hebert in their three-year study of economically disadvantaged and ethnically diverse students include "supportive adults, friendships with other achieving students,

6678-440: The different functions being performed by the mentor. Originally, the concept of mentoring functions developed from qualitative research in an organizational context with functions that belong under two major factors: psychosocial support (e.g. role modeling , friendship, emotional support, encouragement) and career-related support (e.g. providing advice, discussing goals). An early quantitative approach found role modeling to be

6784-466: The focus of mentorship is to develop the whole person, the techniques used are broad and require wisdom to be appropriately used. A 1995 study of mentoring techniques most commonly used in business found that the five most commonly used techniques among mentors were: Different techniques may be used by mentors according to the situation and the mindset of the mentee. The techniques used in modern organizations can be found in ancient education systems, from

6890-591: The founders and chief executive officers informally, are done to promote efficiency in the workplace, which is needed to get their business off the ground. In a 1960 study, Douglas McGregor stressed that punishments and rewards for uniformity in the workplace are not necessary because some people are born with the motivation to work without incentives. Some startups do not use a strict command and control hierarchical structure, with executives, managers, supervisors and employees. Some startups offer employees incentives such as stock options , to increase their "buy in" from

6996-491: The founders may close or exit the startups. Sustaining effort is required as the startup process can take a long period of time, by one estimate, three years or longer. Sustaining effort over the long term is especially challenging because of the high failure rates and uncertain outcomes. Some startup founders have a more casual or offbeat attitude in their dress, office space and marketing , as compared to executives in established corporations. For example, startup founders in

7102-452: The founders themselves using "bootstrapping", in which loans or monetary gifts from friends and family are combined with savings and credit card debt to finance the venture. Factoring is another option, though it is not unique to startups. Other funding opportunities include various forms of crowdfunding , for example equity crowdfunding, in which the startup seeks funding from a large number of individuals, typically by pitching their idea on

7208-399: The future. Typically, these plans outline the first three to five years of your business strategy. Models behind startups presenting as ventures are usually associated with design science . Design science uses design principles considered to be a coherent set of normative ideas and propositions to design and construct the company's backbone. For example, one of the initial design principles

7314-524: The last decade, Europe has developed a rapid start-up scene that has given birth to global players, including more than 70 unicorns, and has created more than two million jobs. Investment in European start-ups increased sixfold between 2010 and 2020, reaching approximately €40 billion. Europe does a poorer job of nurturing young companies because of a failure to support their development into industry leaders. Promising European start-ups then struggle to raise

7420-456: The long run. Venture capital is the money of invention that is invested into young businesses which hold no historic background. Usually, the business of venture capital is highly risky but one can at the same time expect high returns as well. In the United States, the solicitation of funds became easier for startups as result of the JOBS Act . Prior to the advent of equity crowdfunding ,

7526-434: The market situation. In their 2013 study, Kask and Linton develop two ideal profiles, or also known as configurations or archetypes, for startups that are commercializing inventions. The inheritor profile calls for a management style that is not too entrepreneurial (more conservative) and the startup should have an incremental invention (building on a previous standard). This profile is set out to be more successful (in finding

7632-410: The mentor and the learner: for example, the mentor can show leadership by teaching; the organization receives an employee that is shaped by the organization's culture and operation because they have been under the mentorship of an experienced member; and the learner can network, integrate easier into the organization, and acquire experience and advice. Donnalyn Pompper and Jonathan Adams say that "joining

7738-418: The mentor's time and energy". Then cultivation occurs which includes the actual "coaching...a strong interpersonal bond between mentor and mentee develops". Next, under the phase of separation, "the mentee experiences more autonomy". Ultimately, there is more equality in the relationship, termed by Bullis as Redefinition. High-potential mentoring programs are used to groom up-and-coming employees deemed to have

7844-461: The necessary capital to expand and mature. They are forced to either relocate to the US's deep capital markets or sell themselves to larger rivals with more financial availability. As a result, start-ups in the United States can typically raise far more money—up to five times as much as in Europe. Investors are generally most attracted to those new companies distinguished by their strong co-founding team,

7950-850: The ones participating. At this stage the level of risk and payoff are at their greatest. The next round is called Series A . At this point the company already has traction and may be making revenue. In Series A rounds venture capital firms will be participating alongside angels or super angel investors. The next rounds are Series B , C, and D. These three rounds are the ones leading towards the Initial Public Offering ( IPO ). Venture capital firms and private equity firms will be participating. Series B: Companies are generating consistent revenue but must scale to meet growing demand. Series C & D: Companies with strong financial performance looking to expand to new markets, develop new products, make an acquisition, and/or preparing for IPO. After

8056-447: The opportunity to take honors and advanced classes, participation in multiple extracurricular activities both after school and during the summer, the development of a strong belief in the self, and ways to cope with the negative aspects of their school, urban and family environment." On the other hand, risk factors impede the student's ability to positively engage in their challenges and in many cases prevent these students from achieving at

8162-541: The organization or profession), guardian, guru, inspiration, master, "opener of doors", patron, role model, pioneer, "seminal source", "successful leader", and teacher. They described multiple mentoring practices which have since been given the name of "mosaic mentoring" to distinguish this kind of mentoring from the single mentor approach. Mosaic mentoring is based on the concept that almost everyone can perform one or another function well for someone else — and also can learn along one of these lines from someone else. The model

8268-964: The organization. A study of 1,162 employees found that "satisfaction with a mentoring relationship had a stronger impact on attitudes than the presence of a mentor, whether the relationship was formal or informal, or the design of a formal mentoring program". Even when a mentoring relationship is established, the actual relationship is more important than the presence of a relationship. Fortune 500 companies are also implementing formal mentoring programs globally. Cardinal Health has had an enterprise-wide formal mentoring initiative in place since 2011. The initiative encompasses nine formal mentoring programs, some enterprise-wide and some limited to specific business segments and functions. Goals vary by program, with some focused on employees facing specific challenges or career milestones and others enabling more open-ended learning and development. New-hire mentoring programs are set up to help new employees adjust more quickly to

8374-463: The organization. In new-hire mentoring programs, newcomers to the organization (learners) are paired with more experienced people (mentors) in order to obtain information, good examples, and advice as they advance. Beverly Kaye and Sharon Jordan-Evans claim that new employees who are paired with a mentor are twice as likely to remain in their job than those who do not receive mentorship. These mentoring relationships promote career growth and benefit both

8480-761: The participants and the training. The size and maturity of the startup ecosystem is where a startup is launched and where it grows to have an effect on the volume and success of the startups. The startup ecosystem consists of the individuals (entrepreneurs, venture capitalists, angel investors , mentors, advisors); institutions and organizations (top research universities and institutes, business schools and entrepreneurship programs and centres operated by universities and colleges, non-profit entrepreneurship support organizations, government entrepreneurship programs and services, Chambers of commerce ) business incubators and business accelerators and top-performing entrepreneurial firms and startups. A region with all of these elements

8586-558: The potential to move up into leadership or executive roles. The employee (learner) is paired with a senior-level leader (or leaders) for a series of career - coaching interactions. These programs tend to be smaller than general mentoring programs and learners that meet a list of criteria can be selected to participate. Another method of high-potential mentoring is to place the employee in a series of jobs in disparate areas of an organization (e.g. human resources, sales, operations management, etc.) for short periods of time, so they can learn in

8692-594: The principles of customer development and Lean Startup to technology-based startup projects. As startups are typically thought to operate under a notable lack of resources, have little or no operating history, and to consist of individuals with little practical experience, it is possible to simulate startups in a classroom setting with reasonable accuracy. In fact, it is not uncommon for students to actually participate in real startups during and after their studies. Similarly, university courses teaching software startup themes often have students found mock-up startups during

8798-525: The problems barring non-dominant groups from professional success. Mainstream business literature has adopted the terms and concepts and promoted them as pathways to success for all career climbers. These terms were not in the general American vocabulary until the mid-1990s. The European Mentoring and Coaching Council (EMCC) is the leading global body in terms of creating and maintaining a range of industry-standard frameworks, rules and processes for mentorship and related supervision and coaching fields. As

8904-403: The process. Hasche and Linton argue that startups can learn from their relationships with other firms, and even if the relationship ends, the startup will have gained valuable knowledge about how it should move on going forward. When a relationship is failing for a startup it needs to make changes. Three types of changes can be identified according to Hasche and Linton: Startups need to learn at

9010-404: The prototypes and get the product or service ready for market. Externally they are expected to meet milestones of investors and other stakeholders to ensure continued resources from them on the startups. Coping with stress is critical to entrepreneurs because of the stressful nature of starting up a new firm under uncertainty. Coping with stress unsuccessfully could lead to emotional exhaustion, and

9116-400: The risk of bias because the same biases manifest in the sources of information, the type of information sought, and the interpretation of that information. Encouraging people to consider the opposite of whatever decision they are about to make tends to reduce biases such as overconfidence, the hindsight bias , and anchoring. In startups, many decisions are made under uncertainty, and hence

9222-413: The role of educators can be beneficial for students if it extends beyond the basic structures within the classroom. In these environments, students are often exposed to coercive interactions, so positive, personal and harmonious interchanges between the student and a supportive figure can help develop adaptive qualities. Teachers who see students as talented and care about them as individuals by establishing

9328-533: The same level as students who do not encounter the same situations, and can include family tragedy, having an older sibling who became involved in drugs and/or alcohol, family instability, personal pain and academic failure. "Just as risk factors and childhood stressors may co-occur within a particular population or within a particular developmental period, protective factors are also likely to occur together to some degree." Underachieving students who come from risk factor-filled environments often have little support, so

9434-561: The same sector with more or less the same activities, have an increased chance of becoming a better entrepreneur. However, some studies indicate that restarters are more heavily discouraged in Europe than in the US. Many institutions and universities provide training on startups. In the context of universities, some of the courses are entrepreneurship courses that also deal with the topic of startups, while other courses are specifically dedicated to startups. Startup courses are found both in traditional economic or business disciplines as well as

9540-493: The sense that the startup has the potential to grow rapidly with a limited investment of capital, labor or land. Timing has often been the single most important factor for biggest startup successes, while at the same time it's identified to be one of the hardest things to master by many serial entrepreneurs and investors. Startups have several options for funding. Revenue-based financing lenders can help startup companies by providing non-dilutive growth capital in exchange for

9646-428: The side of information technology disciplines. As startups are often focused on software, they are also occasionally taught while focusing on software development alongside the business aspects of a startup. Founders go through a lot to set up a startup. A startup requires patience and resilience, and training programs need to have both the business components and the psychological components. Entrepreneurship education

9752-410: The solo-founder. During the beginning, startups face high uncertainty and have high rates of failure, but a minority of them do go on to become successful and influential, such as unicorns . Startups typically begin by a founder (solo-founder) or co-founders who have a way to solve a problem. The founder of a startup will do the market validation by problem interview, solution interview, and building

9858-402: The stage of growth of the company. Startup investing is generally divided into six stage, namely While some (would-be) entrepreneurs believe that they can't start a company without funding from VC, Angel, etc. that is not the case. In fact, many entrepreneurs have founded successful businesses for almost no capital, including the founders of MailChimp , Shopify , and ShutterStock . If

9964-520: The start up (as these employees stand to gain if the company does well). This removal of stressors allows the workers and researchers in the startup to focus less on the work environment around them, and more on achieving the task at hand, giving them the potential to achieve something great for both themselves and their company. The failure rate of startup companies is very high. A 2014 article in Fortune estimated that 90% of startups ultimately fail. In

10070-541: The student, the learner. This relationship promotes "the development and growth of the latter's skills and knowledge through the former's experience". Mentorship is crucial to high-quality education because it promotes individual development and growth while also ensuring the "passing on" of skills and professional standards to the next generation. In many secondary and post-secondary schools, mentorship programs are offered to support students in program completion, confidence building, and transitioning to further education or

10176-426: The teacher to be, for example, an "opener of doors, protector, sponsor and leader". Capability frameworks encourage managers to mentor staff. Although a manager can mentor their own staff, they are more likely to mentor staff in other parts of their organisation, staff in special programs (such as graduate and leadership programs), staff in other organisations or members of professional associations. Mentoring covers

10282-445: The technical skills needed to be an effective coach. In her book The Art of Coaching , Elena Aguilar recommends that a coach "must have been an effective teacher for at least five years". Although skills that were effective in the classroom are required, the coach must also be confident in working with adults and bring strong listening, communication, and data analysis skills to the coaching position. Ultimately, an instructional coach

10388-466: The technology covered by the patents. Startup investing is the action of making an investment in an early-stage company. Beyond founders' own contributions, some startups raise additional investment at some or several stages of their growth. Not all startups trying to raise investments are successful in their fundraising. Venture Capital is a subdivision of Private Equity wherein external investors fund small-scale startups that have high growth potential in

10494-532: The technology to provide internet access, others using the internet to provide services. Most of this startup activity was located in the most well-known startup ecosystem - Silicon Valley , an area of northern California renowned for the high level of startup company activity: The spark that set off the explosive boom of "Silicon startups" in Stanford Industrial Park was a personal dispute in 1957 between employees of Shockley Semiconductor and

10600-603: The term in a financial column in 1969, saying Arthur H. Collins of Collins Radio "controls a score of high technology patents in a variety of fields" and in a 1971 article used the abbreviated form, "high tech". A widely used classification of high-technological manufacturing industries was provided by the OECD in 2006. It is based on the intensity of research and development activities used in these industries within OECD countries, resulting in four distinct categories. Today, high tech

10706-638: The top 40 global startup hubs. from 2023 The following is a list of the 15 largest exporting countries of high tech products by value in millions of United States dollars , according to the United Nations . Startup company A startup or start-up is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable business model . While entrepreneurship includes all new businesses including self-employment and businesses that do not intend to go public , startups are new businesses that intend to grow large beyond

10812-434: The type of mentoring relationship. There are several models that have been used to describe and examine the sub-relationships that can emerge: for example, Cindy Buell describes how mentoring relationships can develop: A meta-analysis of 112 individual research studies found mentoring has significant behavioral, attitudinal, health-related, relational, motivational, and career benefits. For a learner, these benefits depend on

10918-559: The use of structured recruitment, mentor training and matching services. It can develop naturally between partners, such as business networking situations where a more experienced individual meets a new employee and the two build a rapport. Apart from these types, mentoring takes a dyadic structure in science, technology, engineering, mathematics, and medicine (STEMM). There are many kinds of mentoring relationships from school or community-based relationships to e-mentoring relationships. These mentoring relationships vary and can be influenced by

11024-401: The workforce. There are also peer mentoring programs designed specifically to bring under-represented populations into science and engineering. A specific focus of youth mentoring that addresses the issues that cause students to underachieve in education while simultaneously preparing them to deal with difficult circumstances that can affect their lives in the future and alter their success

11130-554: Was inspired by the character Mentor in Homer 's Odyssey . Although the Mentor in the story is portrayed as a somewhat ineffective old man, the goddess Athena assumes his appearance to guide young Telemachus in his time of difficulty. Historically significant systems of mentorship include the guru–disciple tradition practiced in Hinduism and Buddhism , Elders , the discipleship system practiced by Rabbinical Judaism and

11236-401: Was investigated in one study at Texas A&M University. "Mentoring may really contribute to better degrees of emotional and lasting commitment to an organisation," according to the study's findings. (Huffman and Payne, 2005). Formal mentoring programs offer employees the opportunity to participate in an organized mentoring program. Participants join as a mentor, learner, or both by completing

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