Understanding the Startup Weekend Language

by

On July 11, 12, and 13, Cagayan de Oro will host its first Startup Weekend at Capitol University. Starting with the Friday night pitches and ending with the demonstration on Sunday, it’s going to be a fun and interesting 54-hour weekend for all participants. To help prepare the CDO SW attendees, as most are first timers, we have decided to come up with a glossary of some commonly used startup terms.

  • Angel Investor – Refers to an affluent individual who provides capital for startups. The investment/capital is often in exchange for a stake of the ownership or convertible debt.
  • Business Plan – Also called a “business model”, its main purpose is to describe a company’s movements or actions; specifically how it “creates, delivers, and captures value”.
  • Crowdfunding – This is a practice popularized by Kickstarter and other funding platforms. Crowdfunding involves the act of raising funds for a project or venture through small amounts of money coming from a “crowd” or large groups of people.
  • Elevator Pitch – This is a slang term used to describe a concise speech intended to persuade a venture capitalist to invest in a business.
  • Entrepreneur – A person who runs a small business and accepts all the challenges, risks, and rewards of a business venture. The word entrepreneur is a combination of the French words “entre” (which means to enter) and “prendre” (which means to take). Therefore, any person who is willing to start a new project or venture is called an entrepreneur.
  • Ground Floor – This refers to the start or earliest point of a venture. Many industry insiders believe it is good to invest at this point.
  • Pitch – When you pitch, you present something – an idea, a project, a proposal – with the aim of convincing an audience. Startup Weekend pitches are short (usually one minute) and appealing. It’s like selling your idea – or your story – to a group of people who have the capacity to help you develop it into something more concrete.
  • Prototype – Typically, a prototype is a preliminary model of a device or machine, or any other object. For Startup Weekend participants, a prototype refers to one thing: the model of a product they are developing. The prototype is to be presented to a panel of judges on Sunday, the last day of the 54-hour weekend event.
  • Venture Capital – This refers to money invested in a business or project that comes with an element of risk. Businesses or projects are typically new, startups, or expanding.

The Cagayan de Oro Startup Weekend is presented by the CDO ICT Business Council, DevCon, Techtalks.ph, DOST-ICTO, City Government of Cagayan de Oro and DTI. Premier sponsors are Ideaspace and Capitol University. Other sponsors include Microsoft, Arriba Telecontact, Bohemian Travel and Tours, InDinero, Firefox, Syntactics, RedLemon Digital Media, Airbnb, All I Want App, Barato, Interpace, FBC Business Solutions, Centrio-Ayala Malls, and COC-Phinma. Media partners are The Cagayan de Oro Times, Clix: Cagayan de Oro’s Premier Go-To Site, CDO Bloggers, Magic 89.3, Oro Chamber, and iNewMedia.

If you haven’t registered yet, click on this link. Register now and get a 30% discount. Just enter the code CDOICTCOUNCIL before clicking on the Register button. See you at CU for the first CDO Startup Weekend!

Sources:

http://sparknlaunch.wordpress.com/2012/03/24/the-startup-dictionary-learning-the-lingo-2/ http://sparknlaunch.wordpress.com/2012/03/23/the-startup-dictionary-learning-the-lingo/ http://www.techrepublic.com/article/glossary-startup-and-venture-capital-terms-you-should-know/ http://www.merriam-webster.com/dictionary/prototype Wikipedia Investopedia