Startup Spark Challenge

What is a startup?

• A large established company

• A newly established business

• A non-profit organization

• A government agency

Which of the following is a common characteristic of startups?

• • High risk

• • Slow growth

• • Limited innovation

• • Stable revenue

What is a 'pitch' in the context of startups?

• A marketing slogan

• A presentation to potential investors

• A company logo

• A sales brochure

Which of these is a primary goal for a startup?

• Generating high profit immediately

• Achieving rapid growth

• Maintaining steady performance

• Focusing on local markets only

Which of the following is a key aspect of a successful startup team?

• All team members having the same skills

• A diverse set of skills and experiences

• All team members being close friends

• A large number of team members

What is a 'business model'?

• A detailed product description

• A company's plan for making a profit

• The layout of the office space

• A marketing technique

What is the purpose of a 'business plan' in a startup?

• To document the company’s history

• To outline the company’s goals and strategies

• To list the company’s inventory

• To design the company’s logo

What does the term "exit strategy" refer to?

• A startup's plan for when to close the business

• A startup's plan for a return on investment

• A startup's strategy for hiring employees

• A startup's marketing plan

What does the term "market fit" mean?

• The degree to which a product meets market demand

• The size of the potential market

• The number of competitors in the market

• The geographical location of a market

What is the role of a mentor in a startup?

• To provide financial backing

• To offer guidance and advice to entrepreneurs

• To manage day-to-day operations

• To handle customer service