A global start-up can be defined as a firm that from inception
seeks to offer a substantial competitive advantage from the
combination of its resources to drive outputs around the world.
It can be a high tech industry, engaging in R&D activities
and producing or selling internationally, offering any services to
global customers. Example of today’s start ups are in Artificial
Intelligence, Customer Services, Business Process Outsourcing,
Knowledge PO, Legal PO, Recruitment services, Internet Of Things,
Machine 2 Machine learning, Financial and International trading
Brokerage services etc.
Characteristics:
- Product-Market Fit- most needed characteristics in a company to
enter into a pre-defined target market, respective segment of
customers and it’s utility to buy and use for a customer. Above
examples require an excellent assessment of product- market fix to
launch and then sustain
- Start With Small Test Markets- generally these start ups go for
Alpha tests to find the fitment of their products and service with
a part of a market segment or a sample of customers, then go for
Beta testing to test with more geographic/ category of markets in
fragments and hence slowly test with more number of customers
- Disruption- maximum start ups we see today are passionate about
bringing disruption through their new and optimized tools
(hardware/ software)/ technologies (IOT/ AI/ Analytics)/ Speed of
an operation/ Better operational process/ New business models of
outsourcing to provide cost benefits etc. They product/ service can
cater to one or category of markets or one segment to multiple
segments of customers, globally