Topic 26 · business
Startups and Innovation
A startup is a young company that tests a new idea with big growth potential, often through innovation.
What a startup is
A startup is a new business that tests an unproven idea and aims for fast growth. Unlike an ordinary venture, it works under great uncertainty.
Innovation
Innovation is not just an invention, but a novelty that found a use and created value: a new product, technology, or way of doing business.
Testing the idea (MVP)
To avoid spending everything in vain, you build a minimum viable product (MVP) — the simplest working version — to test demand on real customers and learn fast.
🎯 Now possible
- explain how a startup differs from an ordinary business
- tell innovation from invention
- understand the role of an MVP
Cheat sheet
Startup = a new idea plus a bet on growth
Innovation — a novelty put to use, not just an idea
An MVP tests demand cheaply and fast
A startup lives under uncertainty