No matter how or where they come from, however, all startups share a similar lifecycle. Keep in mind that there's no set timing for any of these cycles or their general characteristics. There's no money raised yet. The venture is less than a year old, with fewer than four employees. The emphasis is on gathering research and forming the concept - with little management in place.
Research is complete with executive summary in place and focus groups on the product.
Prototypes have been conducted. About half the management team is onboard. By now, there could be a beta release, and possibly customer testing or purchase in the works. Employee number might go anywhere from eight to 15, and there's just one open slot on the management team. The management team is in place.