Development phase (first stage)

The fourth phase, the development phase, is also known as the first stage. The aim is to build up the company, generate the first sales and establish the start-up on the market. It is important to monitor the market and the competitive situation so that you can react quickly and flexibly in case of doubt. The first employees are also hired during this phase, and personnel management and employment law present new challenges. This phase lasts until around the end of the 2nd financial year.

Accelerator

An accelerator is an institution that helps start-ups to develop quickly within a certain period of time through coaching.

Artificial intelligence

Artificial intelligence (AI) enables machines to learn from experience, adapt to new incoming information and master tasks that require human-like thinking skills.

Bootstrapping

Bootstrapping refers to a form of financing for setting up a company. External financial assistance is completely dispensed with. The company therefore finances itself independently and manages to get the business up and running under its own steam.

Business Angel

A business angel is someone who takes a financial stake in companies and at the same time supports start-ups with know-how and contacts at a typically very early stage.

Business Model

The business model describes the logic according to which a company functions.

Businessplan

The business plan is a written business concept.

Crowdfunding

Crowdfunding is a type of financing that is used to set up companies or realize projects.

Design Thinking

Design thinking is a process to promote the development of creative ideas.

Development phase (first stage)

The fourth phase, the development phase, is also known as the first stage. The aim is to build up the company, generate the first sales and establish the start-up on the market.

Entrepreneurship

Entrepreneurship encompasses entrepreneurial thinking and action.

Growth phase (second stage)

In the growth phase (second stage), increasing revenue is generated and new customers are regularly acquired, which has a positive effect on cash flow.

Hackathon

The term hackathon is a combination of "hack" and "marathon" and describes a collaborative event format that usually lasts around 48 hours.

Incubator

Incubators are facilities that help companies get started and support them in the process.

Innovation

Innovation refers to the new developments associated with technical, social and economic change.

IoT (Internet of Things)

The Internet of Things (IoT) describes the networking and autonomous communication between machines.

IP (Intellectual Property)

IP stands for "intellectual property".

Knowledge transfer

The term knowledge transfer roughly covers the passing on of acquired knowledge and is therefore part of knowledge management.

Lean Start-Up

The Lean Startup method is often used to design efficient business models.

Maturity stage (third stage)

In the final start-up phase, also known as the maturity phase or third stage, the start-up has become an established company.

Patent

A patent is a legal protection of intellectual property that is commercially applicable, e.g. an invention.

Pitch

A pitch is a short and concise presentation of a business idea.

Pitch deck

A pitch deck is a set of slides that provides an overview of a startup.

PoC (Proof of Concept)

The term Proof of Concept (PoC) means testing the concept.

Pre-seed stage

In the first start-up phase, the focus is on finding ideas and checking the feasibility of the idea.

Seed-stage

The second start-up phase is all about planning.

Spin-off

Spin-offs are companies founded by the university or companies in which the university is directly or indirectly involved.

Stakeholder

Stakeholders are persons or organizations that have an interest in a company's activities because they are indirectly or directly affected by them.

Start-Up

A start-up is a company founded with an innovative business idea and high growth potential.

Startup stage (founding stage)

The third phase is also known as the start-up or foundation phase. This phase is about setting up the organization and sales.

Technology transfer

Technology transfer is the passing on of technical knowledge or practical findings in technology.

Unicorn

A startup company with a market valuation of over one billion US dollars is referred to as a unicorn.

Venture capital

Venture capital is capital that is used to invest in particularly risky companies.