4. 2/25個⼈人作業⼀一 (5%)
• Startup
• “An organization formed to search for a repeatable and scalable business model.” -Steve Blank and Bob
Dorf
• Entrepreneur
• A person who sets up a business or businesses, taking on financial risks in the hope of profit
• Burn rate
• Cash spent per month
• Minimum viable product
• Abbreviated as MVP. A new product developed with minimum but sufficient features to satisfy early
adopters whose feedbacks are considered to design and develop the later complete set of features.
• Pivot
• A method for developing businesses and products by changing direction
• Pitch
• A brief speech that outlines an idea for a product, service or project. Also refer to an entrepreneur's
attempt to convince a venture capitalist that a business idea is worth investing in.
• IPO
• Initial public offering. The first sale of stock by a private company to the public.
5. • Angel investor
• An investor who provides financial backing for small startups or entrepreneurs. Angel investors
are usually found among an entrepreneur's family and friends. The capital they provide can be a
one-time injection of seed money or ongoing support to carry the company through
difficult times.
• Angel investors give more favorable terms than other lenders, as they are usually investing in
the person rather than the viability of the business. They are focused on helping the
business succeed, rather than reaping a huge profit from their investment. Angel investors
are essentially the exact opposite of a venture capitalist.
• Venture capital
• Abbreviated as VC. Money provided by investors to startup firms and small businesses with
perceived long-term growth potential. The typical venture capital investment occurs after the
seed funding round as the first round of institutional capital to fund growth (also referred to as
Series A round) in the interest of generating a return through an eventual realization event, such
as an IPO or trade sale of the company
• Venture capital can also include managerial and technical expertise. Most venture capital
comes from a group of wealthy investors, investment banks and other financial institutions
that pool such investments or partnerships. The downside for entrepreneurs is that
venture capitalists usually get a say in company decisions, in addition to a portion of the
equity.
• CEO
• Chief Executive Officer. The highest ranking executive in a company whose main responsibilities
include developing and implementing high-level strategies, making major corporate decisions,
managing the overall operations and resources of a company, and acting as the main point of
communication between the board of directors and the corporate operations. The CEO will often
have a position on the board, and in some cases is even the chair.