What it is
A tech startup is a company whose purpose is to bring technology products or services to market. These companies deliver new technology products or services or deliver existing technology products or services in new ways.
Startups face high uncertainty and have high rates of failure, but a minority of them do go on to be successful and influential. Some startups become unicorns; that is privately held startup companies valued at over US$1 billion.
Startups typically begin by a founder (solo-founder) or co-founders who have a way to solve a problem. The founder of a startup will begin market validation by problem interview, solution interview, and building a minimum viable product (MVP), i.e. a prototype, to develop and validate their business models. The startup process can take a long period of time (by some estimates, three years or longer), and hence sustaining effort is required. Over the long term, sustaining effort is especially challenging because of the high failure rates and uncertain outcomes.
Why learn this
Starting a tech startup may be one of the most ‘glamorous thing’ one may think of doing to seek self-employment that can also lead to a prosperous future. Hotshot tech startup leaders get a lot of positive press coverage. While there are no guarantees of success, there are ways to derisk the investments by using a tried and tested process called Lean Startup.
Lean Startup is a clear set of principles to create and design startups under limited resources and tremendous uncertainty to build their ventures more flexibly and at a lower cost. It is based on the idea that entrepreneurs can make their implicit assumptions about how their venture works explicit and empirically testing it. The empirical test is to de/validate these assumptions and to get an engaged understanding of the business model of the new ventures, and in doing so, the new ventures are created iteratively in a build–measure–learn loop.
Gigaplex Academy Tech Startup Learning track education will help you pursue your dream of converting you interesting ideas into a real, viable tech Startup by putting your idea through a proven process.
It will also give you a strong foundation of best practices to follow and pitfalls to avoid during your journey of starting and scaling a tech startup. Lastly, the training will give you exposure to other aspects like Taxes, Benefits and labors laws for practicing as a tech startup entrepreneur, a necessary set of skills and know-how to improve your odds of success.
We accomplish this by combining in-person coaching from by lean Startup experts, online video-based classes with deep coverage of subject matter expertise, and cohort style learning experience that revolves around learning and growing together as a group of self-employment aspirants.
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