What is the definition of a startup as discussed in this class?

A startup is defined in this context as a temporary organization used to search for repeatable and scalable business models. This definition highlights the unique nature of startups compared to established companies. Startups are characterized by their focus on experimentation and validation, where the primary goal is to find a sustainable business model that can grow over time.

This definition reflects the inherently uncertain environment in which startups operate, where the founders are actively trying to navigate challenges and discover what strategies or products will resonate with customers. These organizations are not fully established businesses with proven success; instead, they are in the formative stages, seeking to validate their assumptions about how to create value and achieve growth. The emphasis on "temporary" suggests that the startup's mission may evolve as the organization learns and adapts, which is crucial in the dynamic landscape of entrepreneurship.