This is not one of those posts attempting to explain all the new startup vocabulary that are popping up as the startup community grows globally. Ok, maybe a little. Welcome to the world where unicorns are not mythical horses with a cone on their heads and angels are not hallowed beings. Incubators are not machines used in scientific labs for cell culture, but have a totally different meaning in this evolving community. I’m sure, those of you already immersed in this world would have had to face situations where you’re trying to explain the meaning of these words to people who have taken the normal career path, and are working their way up in big corporations.
Or you’re one of those trying to explain to your partner in simple terms what it is exactly that you’re doing, so she/he can tell all her/his friends.
As someone who has just entered this world, I am indeed, also one of those girlfriends (just so you know, a gender reversal is totally possible) who are still learning about all this startup mumbo jumbo. So, here is a list of words and what I thought they meant before and after my boyfriend’s attempts to explain them to me.
Unicorn
What I thought it meant: horses with sharp, cone-shaped horns that resemble a marshmallow swirl. Or Charlie.
What my partner means: Like the mythical creatures you know, these are rare in the world and if you encounter one, you may want to own one yourself. These are startup companies that are actually successful and have a value of over $1 Bn. Only a few exist and you may know some of them as Facebook, Uber, Instagram and Snapchat.
Ramen Profitable
What I thought it meant: When your profit comes in the form of instant noodles or a tasty bowl of Japanese noodle soup. (Don’t judge me, I was hungry when my boyfriend was trying to explain this to me.)
What my partner means: You were there, almost. Ramen is the infamous instant noodle that has saved many students’ lives, especially during exam period. Ramen in this context is a knight in shining armour that comes to the rescue during financially-difficult times. The term refers to when startuppers are making just enough profit to get through each day.
Incubator
What I thought it meant: My Master’s degree thesis was on measuring some genetic changes in liver cells and I had to use an incubator so yes, that was what came to mind.
What my partner means: An incubator in a laboratory provides an ideal environment for cells to grow, ready to be harvested for whatever testing scientists are working on. Basically, they’re there as the cells’ life support. Similarly, in the startup world, the term refers to someone (or a company) who can support startups to grow in a secured environment.
Love Money
What I thought it meant: Something to do with women of the night. Boy, was I wrong.
What my partner means: No, nothing to do with the exchange of money between ‘girls’ and despicable men looking for ‘love’ in the wee hours of the night. Love money is the money invested in your venture that comes from your loved ones such as family and friends; usually as the first round of funding.
Angel [Investor]
What I thought it meant: Messengers of god with big white wings who people look to to save the day.
What my partner means: I would say I was fairly close to the real meaning with this one. An angel investor is not so different from the ones in the Bible, because they really do save a startup from going down by putting in money in order for startups to survive. So, in a sense they are the saviours of startups.
