Glossary Key Terms

Bootstrapping

Self-funding a startup using personal savings and minimizing expenses.

Brainstorming

A group creativity technique for generating a large number of ideas.

Business Angel

A wealthy individual who invests in early-stage startups, offering capital and expertise.

Business Model

A description of how an organization creates, delivers, and captures value.

Business Plan

A formal document detailing how a business will implement its strategy.

Causation

An entrepreneurial approach that starts with predefined goals and plans.

Copyright

Legal protection for creative works, such as books and music.

Crowdfunding

Raising capital through many small investments from a large group of people.

Effectuation

An entrepreneurial approach that begins with available resources and adapts to opportunities.

Ecosystem Resources

Supportive elements for startups like manpower, R&D, and funding.

Entrepreneur

An individual who starts and manages a new business venture, taking on financial risks.

Incubator

An organization that provides resources, mentorship, and networking to startups.

Intrapreneur

An employee who innovates within an existing organization using its resources.

Innovation

The implementation of a new idea or method, often resulting in value creation.

Lean Startup

A methodology focused on experimentation and iterative product development.

Megatrends

Long-term, transformative trends that shape societal development.

Minimum Viable Product (MVP)

A basic version of a product used to test customer response.

Open Innovation

Combining internal and external ideas to enhance innovation.

Patent

Legal protection for technical inventions, granting exclusive rights.

Process Innovation

Improvements to production or operational processes.

Product Innovation

The introduction of new or improved goods or services.

Prototyping

Creating early models of a product to test design and functionality.

Silverpreneurship

Entrepreneurship ventures undertaken later in life (40s and 50s).

Social Entrepreneurship

Combining entrepreneurial efforts to address societal challenges.

Stage-Gate Approach

A structured innovation process with defined stages and decision checkpoints.

Sustainable Entrepreneurship

Balancing economic, social, and environmental goals.

Technology Push

Innovation driven by technological advancements.

Technology Intelligence

The process of recognizing technological trends and discontinuities.

Trademark

Legal protection for signs, logos, and other brand identifiers.

Validated Learning

Empirical data that demonstrates value and validates a concept.

Value Proposition

The benefits and value a product or service offers to its customers.

Venture Capital

Investment in high-growth startups with significant potential.