I have changed my mind about what an orthopedic startup is.
We all casually toss the word "startup" around without any regard to what it really means.
"My friend went to a startup"
"I want to work for a startup."
"Did you hear about the new startup?"
Talk to 10 people and you may get 10 different definitions of a startup. Probably the most common definition is a company in the first stages of operations.
Since I talk with orthopedic professionals every day, I have run into a three specific definitions for "a startup". Let me share these three with you.
#1 - The AGE definition
Some people define startups by how long they have existed. This is purely a time classification.
A true startup must be less than 5 years since inception. One exception to the age question Is Class III regulatory pathways.
#2 - The FUNDING definition
Some people define startups by the level of funding. This is a financial stage classification.
A true startup usually takes on Angel money only, or Series A, but certainly not Series B. Series B is beyond the startup phase. If a company has raised $100M, they are beyond startup status.
#3 - The R...
