Lecture notes of the academic discipline "Innovative Entrepreneurship and Startup Project Management"

Abstract

Startups (innovative company or business) are form of entrepreneurial activity that has become popular in the world since the 90s of the last century in connection with intensive development of information technologies. Startups are characterized by flexibility and a constant search for a business model, the possibility of rapid scaling. In the world economy startups play an important role in the development of technology, the creation of new industries and thousands of new jobs. Innovative entrepreneurial (business) activity implies a high level of risks at the initial stages of creating a business. In the same time, when applying the right approach and methodology to startup development, in particular the Lean approach and the Fail fast principle, entrepreneurs can quickly try new ideas, technical solutions, business model and in case of failure, quickly change the decision model and start testing new strategies. It is very important for young entrepreneurs to start acquiring such experience and skills as early as possible.