Startups typically begin by a founder (solo-founder) or co-founders who have a way to solve a problem. The founder of a startup will do the market validation by problem interview, solution interview, and building a minimum viable product (MVP), i.e. a prototype, to develop and validate their business models. The startup process can take a long period of time (by some estimates, three years or longer), and hence sustaining effort is required. Over the long term, sustaining effort is especially challenging because of the high failure rates and uncertain outcomes. Having a business plan in place outlines what to do and how to plan and achieve an idea in the future. Typically, these plans outline the first 3 to 5 years of your business strategy.
Models behind startups presenting as ventures are usually associated with design science. Design science uses design principles considered to be a coherent set of normative ideas and propositions to design and construct the company’s backbone. For example, one of the initial design principles is “affordable loss”.
Because of the lack of information, high uncertainty, and the need to make decisions quickly, founders of startups use many heuristics and exhibit biases in their startup actions. Biases and heuristics are parts of our cognitive toolboxes in the decision-making process. They help us decide quickly as possible under uncertainty but sometimes become erroneous and fallacious.
Entrepreneurs often become overconfident about their startups and their influence on an outcome (case of the illusion of control). Entrepreneurs tend to believe they have more degree of control over events, discounting the role of luck. Below are some of the most critical decision biases of entrepreneurs to start up a new business.
Startups use several action principles to generate evidence as quickly as possible to reduce the downside effect of decision biases such as an escalation of commitment, overconfidence, and the illusion of control.
Many entrepreneurs seek feedback from mentors in creating their startups. Mentors guide founders and impart entrepreneurial skills and may increase the self-efficacy of nascent entrepreneurs. Mentoring offers direction for entrepreneurs to enhance their knowledge of how to sustain their assets relating to their status and identity and strengthen their real-time skills.
On January 27, 2016, Crackle announced it had given the production a series order for a first season consisting of ten episodes. It was reported that executive producers were set to include Ben Ketai, Tom Forman, Andrew Marcus, Ray Ricord, Gianni Nunnari, and Shannon Gaulding. Ketai was also expected to serve as a writer and director on the series. Producers were announced to include Adam Brody and Anne Clements. Production companies involved with the series include Critical Content and Hollywood Gang Productions. On January 13, 2017, Crackle announced that they had renewed the series for a second season. On November 15, 2017, Crackle officially renewed the series for a third season. On August 27, 2018, it was announced the third season would premiere on November 1, 2018.
Simultaneously alongside the initial series order announcement, it was confirmed that the series would star Martin Freeman, Adam Brody, Edi Gathegi, and Otmara Marrero. That same day, it was reported that Jocelin Donahue had been cast in a recurring role. On March 17, 2016, Ashley Hinshaw joined the show in a starring role. On April 19, 2017, it was announced that Ron Perlman and Addison Timlin had joined the series’ main cast. On January 14, 2018, it was reported that Mira Sorvino would appear in the third season in a guest starring role. On February 7, 2018, it was announced that Allison Dunbar joined the series in recurring role. The show was cast by Bonnie Wu, Dylann Brander, Erica Johnson and Aaron Griffith.
Principal photography for season one began during the week of January 25, 2016, in San Juan, Puerto Rico.
On July 27, 2016, Crackle released the first official trailer for the series. On August 7, 2017, Crackle released a trailer for the second season. On August 7, 2018, Crackle released a trailer for the third season.
The series began streaming on Netflix on May 4, 2021. Since being released on Netflix, the show earned a place in the Netflix Top 10. This generated buzz about whether or not there would be a season four, with speculation that Netflix could potentially pick it up in order to film the next season.
On September 21, 2018, the series held the world premiere of its third season during the second annual Tribeca TV Festival in New York City. Following a screening, a conversation was held featuring members of the cast and crew including director Ben Ketai and actors Edi Gathegi, Ron Perlman, Adam Brody, and Otmara Marrero.
The series received mixed reviews from critics. On the review aggregation website Rotten Tomatoes, season 1 of StartUp holds an average approval rating of 36% based on reviews from 14 critics. The website’s critical consensus reads, “StartUp is a LetDown.” Metacritic, which uses a weighted average, assigned the series a score of 52 out of 100 based on 14 reviews, indicating “mixed or average reviews”.
A startup ecosystem is formed by people, startups in their various stages and various types of organizations in a location (physical or virtual), interacting as a system to create and scale new startup companies. These organizations can be further divided into categories such as universities, funding organizations, support organizations (like incubators, accelerators, co-working spaces etc.), research organizations, service provider organizations (like legal, financial services etc.) and large corporations. Local Governments and Government organizations such as Commerce / Industry / Economic Development departments also play an important role in startup ecosystem. Different organizations typically focus on specific parts of the ecosystem function and startups at their specific development stage(s).
Startup ecosystems are controlled by both external and internal factors. External factors, such as financial climate, big market disruptions, and significant transitions, control the overall structure of an ecosystem and the way things work within it. Start-up ecosystems are dynamic entities that progress from formation stages to periodic disturbances (like the financial bubbles) and then to recovering processes.
Several researchers have created lists of essential internal attributes for startup ecosystems. Spigel suggests that ecosystems require cultural attributes (a culture of entrepreneurship and histories of successful entrepreneurship), social attributes that are accessed through social ties (worker talent, investment capital, social networks, and entrepreneurial mentors) and material attributes grounded in a specific places (government policies, universities, support services, physical infrastructure, and open local markets). Stam distinguishes between framework conditions of ecosystems (formal institutions, culture, physical infrastructure, and market demand) with systematic conditions of networks, leadership, finance, talent, knowledge, and support services.
Startup ecosystems in similar environments but located in different parts of the world can end up doing things differently simply because they have a different entrepreneurial culture and resource pool. The introduction of non-native peoples’ knowledge and skills can also cause substantial shifts in the ecosystem’s functions.
Internal factors act as feedback loops inside any particular startup ecosystem. They not only control ecosystem processes, but are also controlled by them. While some of the resource inputs are generally controlled by external processes like financial climate and market disruptions, the availability of resources within the ecosystem are controlled by every organization’s ability to contribute towards the ecosystem. Although people exist and operate within ecosystems, their cumulative effects are large enough to influence external factors like financial climate.
Employee diversity also affects startup ecosystem functions, as do the processes of disturbance and succession. Startup Ecosystems provide a variety of goods and services upon which other people and companies depend on. Thus, the principles of start-up ecosystem management suggest that rather than managing individual people or organizations, resources should be managed at the level of the startup ecosystem itself. Classifying start-up ecosystems into structurally similar units is an important step towards effective ecosystem managing.
There are several independent studies made to evaluate start-up ecosystems to better understand and compare various start-up ecosystems and to offer valuable insights of the strengths and weaknesses of different start-up ecosystems. Startup ecosystems can be studied through a variety of approaches – theoretical studies, studies monitoring specific start-up ecosystems over long periods of time and those that look at differences between start-up ecosystems to elucidate how they work.
Since 2012, San Francisco-based Startup Genome has been the first organization to release comprehensive research reports that benchmark startup ecosystems globally. Currently led by JF Gauthier and Marc Penzel, the San Francisco-based startup has been the first organization to capture the requirements of a startup ecosystem in a data-driven framework. Startup Genome’s work influenced startup policies globally and is supported by thought leaders such as Steve Blank and has appeared in leading business media such as The Economist, Bloomberg and Harvard Business Review.
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