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APPENDIX - GLOSSARY

Module 1: “Digital start-ups vs. digital scale-up”

Is a person of high-net-worth who invests their personal wealth
Business angel
in early-stage businesses.
When the main assets of a start-up are linked to technological
Digital start-up
investments.
A person who sets up a business or businesses, taking on
Entrepreneur
financial risks in the hope of profit.
Growing Adding resources at the same rate that is adding revenue.

Product/market Means being in a good market with a product that can satisfy
fit that market.

Is a company at a distinct phase of growth. The company has
now outgrown the early start-up years, and is demonstrating
high-growth and big potential. These are the companies
that investors are looking to invest in, and that can go on to
Scale-up create a lot of jobs. The OECD defines high-growth as a

company that has achieved growth of 20% or more in either
employment or turnover year-on-year for at least two years,
and have a minimum employee count of 10 at the start of the

observation period.
Adding revenue at an exponential rate while only adding
Scaling
resources at an incremental rate.
A young business venture, under about 5 years old, with

innovation at the core of their product or service offering, and
Start-up plans to rapidly scale. Their business model often aims to be
disruptive to incumbent sectors. Start-ups often share cultural

similarities in working practices, conventions and ambition.
Module 2: “Circular Economy in your start-up”
Anaerobic Breaking down biological material in an environment without
digestion oxygen. This process is used to generate biogas, which is used

Programme: Erasmus+
Key Action: Cooperation for innovation and the exchange of good practices
Action Type: Strategic Partnerships for vocational education and training
Project Number: 2019-1-PL01-KA202-065209
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