What is a startup?a.An established and profitable companyb.A new and innovative businessc.A non-profit organizationd.A government agency

Understanding Startups

A startup refers to a newly established business, typically in its early stages of operation and often focused on developing a unique product or service. Startups are usually characterized by their innovative approaches and potential for rapid growth, often seeking to disrupt existing markets or create entirely new ones.

Analyzing the Options

1. An established and profitable company: This option is incorrect because startups are in their formative phase and not yet established or profitable.

2. A new and innovative business: This option accurately describes a startup, as it emphasizes the novelty and innovative aspect.

3. A non-profit organization: This is incorrect because startups can be either for-profit or not-for-profit, but the term "startup" usually refers to for-profit ventures.

4. A government agency: This option is not applicable because startups are private enterprises, not government entities.

Conclusion

Based on the analysis, the correct answer is b. A new and innovative business. This definition encompasses the essence of what a startup is all about.