What is a Startup?

Here in the Company Launch program at the Lassonde Institute, we identify a startup as having reached three out of five key milestones that are on the way to becoming a successful business. You do not, however, need to be defined as a startup to join the Company Launch Program. Everyone is encouraged to join!

Company Launch is here to provide access to in-kind resources that will help your team meet the milestones below.

1. Problem & Solution Identified

  • Have you identified a problem that centers your team’s overall focus and objective?
  • Have you identified actionable steps to take in order to solve the problem?

2. Webpage Created

  • Have you chosen a company name and reserved the web domain?
  • Can you direct people to a webpage to learn about your cause?

3. Entity Established

  • Have you incorporated?
  • Do you have an operating or shareholder agreement?

4. Funded

  • Have you received financial support from family, friends, competitions, investors, banks or other contributions?

5. Revenue Generated

  • Are you generating revenue?

If you can answer “yes” to all the questions under each section, then you have met that milestone. Congratulations!