What’s a ‘startup’?

There are many definitions of ‘startup’.

While we have nothing against someone setting up a new restaurant, a pharmacy or fish n chip shop, these are not ‘startups’. They may be mighty fine businesses, but they are not very scalable, do not have a high degree of technology as an accelerator and are unlikely to be disrupting an industry.

So, we write about startups. In Western Australia.

For our purposes, a startup is:

  • an early stage innovative company or research project;
  • developing or commercialising a scalable, marketable opportunity;
  • probably aiming to disrupt incumbent businesses in an industry and/or developing a wholly new industry;
  • run by founders of any age (not only millennials!).

This means the companies or projects we are interested in writing about and highlighting could be brand new, at the idea stage, or many years into their journey.

These kinds of businesses can become ‘the next Canva’, could scale relatively quickly (Canva, originally from Perth, grew to A$8B+ valuation inside 8 years).

Most of them though will not survive. Trying something new is hard. Breaking into industries is tough. Creating a whole new industry is crazy difficult.

It takes a heady mix of resilience, brilliance and good fortune to make it.

We celebrate those that give it a go, in a state better known for mining, oil & gas and property.

It’s important work, and amazing businesses, products, services, wealth and jobs can created as a result.

Go #WA #Startups!

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Do you have a story idea on a WA startup? Please contact us.

Photo by Helena Lopes from Pexels.