ScaleUp, or more accurately, scaling up, refers to companies that have previously been classified as startups and are now in a more advanced stage. In other words, they seek to scale their business model to continue growing progressively.
Some of the differences between a startup and a scaleUp are that the former seeks funding to launch its innovative business, has a high probability of significant growth, and markets products or services using information and communication technologies (ICTs), while also being customer-driven. The latter, on the other hand, refers to companies that have grown at a certain rate over a specific period and now need to scale to a new business model.
In the process of transitioning from startup to scaleUp, the company must consider its business model, ensuring it possesses scalable characteristics that enhance the business. According to the Organisation for Economic Co-operation and Development (OECD), a company must have an annual return averaging over 20% during the last 3 months, in addition to having at least 10 employees.
Companies like UberEats, Cabify, and PedidosYa are already considered scale-ups due to their experience within the startup sector and the need to continue growing in the market based on their own users.
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