Learning objectives: To make students familiarize with different types of start-up.
Learning Outcome: Students will be able to enlist the attributes and characteristics of different types of startup. Students will be able to enlist specific requirements for different types of start-up.
Background: At the time of the beginning of a venture an entrepreneur gets enthusiastic and motivated to accomplish the business goals. The individual entrepreneur therefore, must carefully select the type and timing of the business. Like any other segment of life these different types of startup do have their own discretionary features in terms of properties, requirements and limitations. Usually an entrepreneur can either have a Foundation Company, Lifestyle Firm or a Gazelle/High Potential Venture. The selection of a startup is critically linked to the attribution of resources and their potential implications.
Case: Kashif Qadeer is a student of computer sciences. He is about to complete his Bachelors in Computer Sciences degree from a top computer science school in the city. He is young, brilliant, vibrant and capable enough that recently he has won programming marathon competition at national level. He is passionate to take the role of job creator by choosing the self-employment as a career option rather than starting a job after completing the graduation. He is likely to become a tech entrepreneur in the future having a brighter sense of business and showing risk management abilities. He has vast set of skills and attributes which can offer him the opportunity to flourish his business very fast. He is hopeful to grab good capital investment from the open market investors and intends to demonstrate a rapid growth in early years of business. He is looking for an expert opinion to develop his business and boost his entrepreneurial journey.
Requirement: As a student of entrepreneurship you need to answer the following questions to help Kashif Qadeer in this context.
1. What type of startup will suit him the most with given attributes and skills? Name the startup title and type separately. (2 Marks)
2. Write four logical points to clarify your suggestion. (4*2=8 Marks)