The Internet of Things (IoT) describes the networking and autonomous communication between machines. This includes all computerized objects, from smart fridges and sensors such as thermostats to self-driving cars.
An accelerator is an institution that helps start-ups to develop quickly within a certain period of time through coaching.
Artificial intelligence (AI) enables machines to learn from experience, adapt to new incoming information and master tasks that require human-like thinking skills.
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.
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.
The business model describes the logic according to which a company functions.
The business plan is a written business concept.
Crowdfunding is a type of financing that is used to set up companies or realize projects.
Design thinking is a process to promote the development of creative ideas.
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 encompasses entrepreneurial thinking and action.
In the growth phase (second stage), increasing revenue is generated and new customers are regularly acquired, which has a positive effect on cash flow.
The term hackathon is a combination of "hack" and "marathon" and describes a collaborative event format that usually lasts around 48 hours.
Incubators are facilities that help companies get started and support them in the process.
Innovation refers to the new developments associated with technical, social and economic change.
The Internet of Things (IoT) describes the networking and autonomous communication between machines.
IP stands for "intellectual property".
The term knowledge transfer roughly covers the passing on of acquired knowledge and is therefore part of knowledge management.
The Lean Startup method is often used to design efficient business models.
In the final start-up phase, also known as the maturity phase or third stage, the start-up has become an established company.
A patent is a legal protection of intellectual property that is commercially applicable, e.g. an invention.
A pitch is a short and concise presentation of a business idea.
A pitch deck is a set of slides that provides an overview of a startup.
The term Proof of Concept (PoC) means testing the concept.
In the first start-up phase, the focus is on finding ideas and checking the feasibility of the idea.
The second start-up phase is all about planning.
Spin-offs are companies founded by the university or companies in which the university is directly or indirectly involved.
Stakeholders are persons or organizations that have an interest in a company's activities because they are indirectly or directly affected by them.
A start-up is a company founded with an innovative business idea and high growth potential.
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 is the passing on of technical knowledge or practical findings in technology.
A startup company with a market valuation of over one billion US dollars is referred to as a unicorn.
Venture capital is capital that is used to invest in particularly risky companies.