How people generally define startup is a small business model or an organization, but what I think it is an environment to test and/or modify an idea or innovation which generally suits the environment. Basically, a startup provides structure to an idea, and idea in itself is just a work of creativity, for that work of creativity to be noticed and to be appreciated, it needs to be implemented, that’s exactly what a startup does. We have seen the rise of some of the brilliant startups like Flipkart, Snapdeal, PayTM and many others.

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For funding a startup there are various rounds, and someone has rightly said: “Finding funding for a startup is like fighting Mahabharata, wherein the VCs are Lord Krishna”. For funding, one should believe in the idea, past expertise, and experience in the field would certainly impress VCs. I believe startup is more than a product or a service, it’s where a person’s innovation skills meet the real world, where the ideal model meets the practical model, where success is unsure but the experience is guaranteed. Nowadays, even big companies and governments have departments dedicated to small and big startups. A startup eventually makes us realize what a “billion dollar idea” could look like in the real world. There are generally phases in the establishment of a startup namely, idea phase, formation phase, growth phase and stagnant phase.

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Idea Phase is the initial phase without any structure, just the idea the formation phase serves as the basis and is responsible for the idea transformation from pen and paper to a real deal. The growth phase where the startup gets the funding and the revenue model comes to real life. The stagnant phase provides stability to the startup as the organization gains experience and becomes mature.

I don’t think startup is a product or service, I think of it as an organism, if this organism has to function properly then all the processes and activities should function up to the mark.