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Daddy, what is a startup?

They say that you only understand something when you can explain it to a small child.They also say that understanding a concept is inversely proportional to the number of wordsyou use to explain it to someone.Sunday.Village.Family lunch of a typical Montenegrin family.Formation:- Grandpa (retired and likes to bet, but with "one euro")- Grandma (like grandma)- Father- Mother (high school teacher)- Brother (football player)- Sister (philosopher)- Michelangelo (works in accelerator and incubator for startups)- Woman (artist/painter)- Son (three years old)- Daughter (two years old)Sač - Meat prepared in traditional way (between two stones) for lunch.Lunch is interrupted by a mobile phone. Michelangelo answers and after a few minutes ofconversation, he ends with the sentence "... ok, I'll let you know which startups will pitchideas".The uncomfortable silence caused by a business conversation during a family lunch isinterrupted by Michelangelo's two-year-old daughter - "Daddy, what is startup". The rest ofthe family choruses to that, "Yes, what is that famous startup".Pursuant to the Law on Innovation Activities, Article 10, Point 17, "A startup is a newlyfounded company that is not older than five years and that creates, develops and puts intouse innovations with a high growth potential on the international market".Knowing that even for himself this definition is confusing and not believing in universalexplanations, Michelangelo decides to explain to everyone individually what a startup is (theso-called tailor made approach) and thus a startup becomes:- For Grandpa, a robot that brings newspapers (yes, yes, a robot and newspapers, he won'tuse his phone to watch the news) and places bets (preferably also predicts the results)- For Grandma, these are those fallen useless figs that she collects and makes the best jamin the world from them (she is not interested in the scalability problem)- For Father, at least it was easy, a cigar without nicotine but with nicotine- For Mother, a mischievous but intelligent student in puberty who needs to be "somehow"steered and motivated to learn (there really is a great similarity between channelingpuberty and a raw idea)- For Brother, Savicevic and his dribbling when he dribbles himself and others. Of course, ifit could be patented and monetized in the form of a chip. (inject it and the dancing canbegin)- For Sister, it is a Al bot, with which, among other things, you can discuss about the purposeof life (and of course about love)- For Wife, literally, the process of creating piece of art (from the idea, through pivoting tothe piece of art itself... of course without exit strategy, because the art is not for sale)- For Son, Santa Claus who works 365 days, not just for the New Year (and some kind ofglasses so he can see him)- For Daughter, Zaga and Filip (P.S she really answered that)Indeed, a robot assistant that predicts results, a circular economy platform, a "smart cigar",a "talent chip", a "philosopher bot", a "digitalized Santa Claus", a YouTube channel, as wellas analogies with art and student maturation/scaling, all these and many more are part ofthe startup ecosystem.A startup is not some mystical IT being, a startup is an innovative solution to a banaleveryday problem in the form of services. The bigger and more widespread the problem,and the more original and sustainable the solution, the greater the chances of success.Simple as that.Everything was clear to everyone, pride overwhelmed Michelangelo, and then the daughterpivoted:Okay daddy, but what is "pitch"?Disclaimer: Any resemblance to real persons or other real-life entities is purely coincidental.

Marko Bošković

Research Manager