Since revenues, profits, and employment numbers shift drastically between companies and industries, there is no hard and fast rule defining a startup.
We believe a startup is a company still searching for its business model.
However, if two or more of the following is true for your company, you are most likely no longer a startup. You have:
- been acquired by a larger company
- more than one office
- revenues greater than €2 million
- more than 50 employees
- over five people on the board
- and founders who have personally sold shares.
It is not a requirement that you describe your business as an impact startup, zebra, or a sustainable business. However, we do see that the SDG driven startups tend to get more investments from Time Angels, simply because more people are inclined to invest their time in something that truly makes an impact on a greater scale. Startups that are solely profit-driven tends to have an easier time with financial investors, and as such are rarely in need of a Time Angel.