FM Innovators' Blog

Startup Crash Course for Facility Managers: How Do Startups Grow?

 

As facility managers, we can make our activities and facilities increasingly smarter and more tech-driven using innovations in artificial intelligence (AI), big data, internet of things (IoT) and many other cutting-edge technologies. A lot of these “tech”  are innovations from growth-fueled companies called startups.

 

But what are startups, by the way?

How do they grow and become a source of innovative solutions for us, facility managers?

 

The definition of startup

If we look up the definition of a startup, it can range from the simple “fledgling business enterprise” or to the more comprehensive “company or project undertaken by an entrepreneur to seek, develop, and validate a scalable economic model”. In the broadest sense, any new company is a startup. But what is the best definition of a startup? The description given by Paul Graham, the founder of the world’s most successful tech incubator, Y Combinator, is by...

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