9. Glossary

Economic model; business model

Defines how the start-up operates and creates value to ensure its long-term development. The business model identifies revenue sources, target market segments, products and their margins, sales channels, financing requirements, and the level of revenue that will enable the company to make a profit.

Business plan

Document describing a new business opportunity, usually consisting of a description of the following elements: target market, product or service, competition, marketing, entrepreneurial team, operations, development milestones, exit strategy, 3-year projected income statement and associated cash flow forecasts.

Dominant design; dominant design

Product design recognized, within a given product class, by the market as best meeting...