Entrepreneurship

Term Definitions

1. Intrapreneurship: Intrapreneurship refers to the practice of employees within a larger

organization behaving like entrepreneurs. They identify and develop new projects or
initiatives within the company, often with a degree of autonomy and risk-taking.

2. Pivot: A pivot is a strategic shift in a startup's business model, product, or target market in
response to feedback or changing circumstances. It allows the company to adapt and find a
more successful direction.

3. Angel Investor: An angel investor is an individual who provides capital to startups or early-
stage companies in exchange for equity ownership. They often offer expertise and
mentorship in addition to financial support.

4. Venture Capital (VC): Venture capital is a form of financing provided by professional

investment firms (venture capital firms) to startups and small businesses with high growth
potential. In return, VCs typically take an ownership stake in the company.

5. Accelerator: An accelerator is a program that helps startups grow by providing mentorship,

resources, and often funding in exchange for equity. It usually has a fixed duration and
culminates in a "demo day" where startups present their progress to potential investors.

6. Lean Startup: The lean startup methodology emphasizes rapid experimentation, iterative
product development, and customer feedback to build a business more efficiently and with
reduced waste.

7. Scale-up: Scaling up is the phase in a startup's growth where it transitions from a small
operation to a larger, often more established company. This typically involves expanding
market reach and increasing revenue and staff.

8. Elevator Pitch: An elevator pitch is a concise and compelling summary of a business idea that
can be conveyed in the time it takes to ride an elevator. It's used to capture the attention of
potential investors, partners, or customers.

9. Freemium: Freemium is a business model in which a company offers a basic version of its
product or service for free while charging for premium features or advanced functionality.
It's a common approach in software and online services.
10. SWOT Analysis: SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. A
SWOT analysis is a strategic planning tool that assesses these factors to make informed
decisions about a business's future direction.