Glossary of terms


Start-up is a business entity, typically described as a newly established company or a rapidly evolving and changing company. Currently there is no comprehensive and internationally accepted definition of a startup.

Business Incubator

A Business Incubator can be a private company or institution established by the region or city as a workplace associating colleges and universities, which help new companies and start-ups at the time when these companies are at their most vulnerable, that is at the beginning. The Incubator helps development by providing services such as training on how to set up a business plan or marketing, and other activities such as renting office space or providing contacts in the field. Another purpose of the incubator is to create jobs and support the overall business environment in local communities.

Business Accelerator

A Business Accelerator is a private company or institution established by the region or city, or associated with a college or university, that helps new companies (especially start-ups) to accelerate their development and growth. An accelerator helps to provide a wide range of services aimed at business development, such as for example mentoring (meetings with experts in their fields, which helps the growth of young companies), networking (face to face meetings with interested partners), optimization of the business plan, often in exchange for a stake in the company.

Know how

Unique knowledge of the field, process, technology, etc.

Business Angel

An Angels investor, a business angel, a seed investor or a private investor who is the individual / person who provides capital for a business start-up usually in exchange for shares in the company or participation in the profits of the company. Currently around the world there are an increasing number of angel investors, primarily through financing online focusing mostly on ITC and software.


A person or company who is co-financing / investing in various startups / companies under specific conditions and helping with their further development.

Technology Transfer Office

A Center which assists in putting into practice unused technologies.

Science and Technology Park

Provides the necessary space/ offices / laboratories and services to innovative companies with a long history of entrepreneurship (not primarily for startups).