How to build a deep-tech Start-Up - Knowledge Base
The HTBS Knowledge Base can be seen as Additional Material for Students, Updates to existing Knowledge for former Students and a first deep dive into the topic for people, who are generally interested in Startup-Creation.
The knowledge base is based on my experiences that I have gathered on my way so far. Unfortunately, I had to read through a lot of bad books and want to spare you that now.
Stage -1: Education
Education is the foundation for almost everything in life and thus also for a successful start-up. Whether you are currently in vocational training, studying dual or traditional studies or are already in a job, there are countless opportunities to further your education thanks to the internet. And most of it is even free! Take advantage of this opportunity.
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Stage 0: Research
Research = Good
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Stage 1: Idea-Stage
Every entrepreneurial endeavor starts with an idea. No matter how you come up with it — during a brainstorm with your friends or colleagues, or you were just hit upon when you least expected it — it’s a cornerstone of every business. But unfortunately, not every “grand design” is neither new nor innovative. To avoid making a mistake by launching a product or service that nobody needs or wants, make sure that your “million dollar” idea can indeed make a difference.
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Stage 2: Friends & Family, and Angels Stage
Coming up with a worthwhile idea and sustaining it with your resources is only a beginning. You need to expand your business and for this, you’ll need more money as your sources are already drying up. This is when the Friends & Family, and also the Angels stage comes to the aid of your startup.
Usually, there are several comparatively reliable ways from where you can attract more investment — through your family and friends and angel investors.
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Stage 3: Pre-Seed Startup-Stage
The pre seed startup is a phase when the entrepreneur requires additional funds to support their startup. For instance, it’s highly important to conduct market validation. From this point of view, this stage is key because it provide answers to your questions:
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Is your product something that your customers really need or want?
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If not, how can you pivot? If yes, are there any essential features it lacks?
To answer all of them, you need to build a minimum viable product also known as MVP which is a proven tool to validate an idea.
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Stage 4: Seed Startup-Stage
The name of the stage speaks for itself. You can imagine a startup to be a seed, which was planted to become a blossoming tree. This stage suggests that you’ve validated your idea.Your product is already generating revenue on a regular basis and your startup’s acquiring new customers. But if you want to grow faster, become bigger, and secure your position in the market, you might want to go for the Seed Stage.
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Stage 5: Early-stage Startup
Early stage startups are companies that have already figured out what kind of business model works for them. They generate expected revenue, have customers, attract new ones, but they need to scale to satisfy an increasing market demand. At this stage, they can begin funding round series.
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Stage 6: Growth-Stage
At the growth stage, companies bask in the glory of their success. Entrepreneurs have some new options of how to secure the next fund — investors, bank loans. Banks provide some good advantages, for instance, they can loan you money with low interest rates, and they don’t require your company’s equity in return.
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Stage 7: Exit Stage
Your company has several offices, maybe even outside of your country. Your product or service has secured its positions in the market so strongly that for now it has become an integral part of your clients’ lives. And now it’s time for IPO or Initial Public Offering. It’s the final stage of startup development.
IPO is the very first time when a startup (private company) makes its corporate shares available to the public for purchase.
This allows startups to raise funds from public investors and it means that the companyэs private status becomes public and its shares become available to an unlimited number of investors. There are several reasons why you might want to consider this option for your startup. Initial public offering helps you attract long-term investment for your business, boost the company’s prestige, which provides you with high-profile partners and new clients. IPO allows the existing shareholders to sell their shares or you can sell your shares on favourable terms.
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