The process of designing, launching, and running new businesses.

Entrepreneurship

Networks of organizations and resources that support the creation and growth of new ideas and technologies.

Innovation Ecosystems

Stages of investment that startups typically go through to raise capital, such as seed, Series A, Series B, and so on.

Funding Rounds

Presenting a business idea to potential investors, partners, or customers to secure support or funding.

Pitching

A startup's ability to handle growth in workload without compromising performance or profit margins.

Start-up Scalability

Early-stage companies characterized by innovative ideas, rapid growth, and scalable business models.

University of Michigan - Ann Arbor

Types of Companies

Includes the generation of new ideas (ideation) and the implementation of those ideas.

Innovation

Start-ups

Large companies operating in multiple countries and markets.

Multinational Corporations

Small-scale improvements to existing products, services, or processes that enhance efficiency or value.

Incremental Innovation

An innovation that creates a new market and value network, eventually displacing established market-leading firms, products, and alliances.

Disruptive Innovation

A general-purpose technology (GPT) is a foundational innovation that has a pervasive impact across many sectors of an economy. Key characteristics of a GPT include its widespread applicability, its continuous potential for technical improvement, and its capacity to spawn further innovations in products, processes, and business organization. By fundamentally transforming economic structures, GPTs like the steam engine and the internet serve as major engines of long-term economic growth and improvements in living standards.

General-Purpose Technology (GPT)

The Industrial Revolution in 18th-century Britain was driven by significant technological advancements, particularly within the textile industry. These innovations transformed traditional production methods, such as spinning (historically done by women, or 'spinsters') and weaving (historically done by men). Key inventions from this era, like the flying shuttle and the spinning jenny, were central to this economic transformation.

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