A StartUp is not just any newly founded company. A newly opened bakery shop or kebab shop is not a StartUp. Whether a young company is considered a start-up can basically be determined by three (3) criteria:
First, the start-up develops innovative technologies or is based on an innovative business model.
Secondly, the business model of the start-up is very scalable, i.e. it enables dynamic growth.
Third, the start-up is up to 7 years old.
