If the world is to benefit from the ingenuity of startups and leverage them to power national and global economies, it is crucial to create a common definition framework for startups.
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Startups have become synonymous with innovation, job creation and economic growth. Their role in disrupting the status quo, solving the most pressing societal challenges, and pushing the boundaries of human creativity and endeavour is undeniable. Yet, many countries do not formally define or recognise startups as a unique organisational form, and those that define them have vastly different definitions.
[This article has been published with permission from IIM Bangalore. www.iimb.ac.in Views expressed are personal.]