Paul Graham defined start up as an entrepreneurial venture that is designed to “grow fast.” The key word here is fast growing, which aims to meet a specific marketplace (usually a large demand of a product or a problem that needs to be solve) by developing and/or improving a product, process, or service. Popular startup companies such as Apple Inc., Google, Netflix, Facebook, etc. has brought innovative ideas by solving a problem that brought improvement in the community. Startup does not necessarily have to involve technology; however, due to technology’s rapid advancement, it brings about new problems that needs solving which is a great opportunity for startup companies to get involved in. It is also to their advantage that market demand on technology is high because of our increasing reliance on technology. The strategies of how to start a startup can be implemented in many ways as well, including rebranding an image of a nation. As stated above, a start up involves fast growing of ideas that involves an improvement of a product, in this case an image of a country.
For example, South Korea used to lived in poverty; its per capita GDP is even lower than North
Korea. The advancement of technology, specifically the Internet broadband, provided South Korea the opportunity to solve the problem of poverty and rebrand itself in which the National Aesthetic of "Korean Cool" was born and widely popularized. The internet became the mode of transportation that allows South Korea to sell their brand and products (Korean’s culture and entertainment business) around the world efficiently. Thus, the history of South Korea’s fast progression and re-branding of its national aesthetic are similar to that of successful startup companies. Now, South Korea is the fifteenth largest economy as well as a hub for technological advancement.
Has South Korea reached its full potential as a country that needs further development?
Work Cited:
Graham, Paul. "How to Start a Startup." How to Start a Startup. N.p., 8 Jan. 2017. Web. 14 Jan. 2017.
Vital, Anna. How to Start a Startup- Infographic. Digital image. Funders and Founders. N.p., n.d. Web. 16 Jan. 2017.
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