June 2010
StartupBUSINESS.COM set out to find the young companies that are blazing new trails in their respective markets. We found hundreds of very cool companies that are, well…hot. Innovation is flourishing in all sectors, driven by new thinking and new opportunities. Times have changed and today’s startups have changed with them. Even in this deep recessionary time, smart people are pursuing their passions and are hell-bent on controlling their futures and on changing the world.
What makes a startup company hot?
In a word…..uptake. The founders are quick to learn from their customers and quick to get traction in the marketplace. They may not be profitable, but most are seeing double-digit growth each quarter. A hot startup is one that has a unique insight. It fills a need that is not being offered by any other company in the space. It is not a one trick pony. Its products or services are really useful -- even critical -- to its customers. The industries that these companies compete in are depending upon them to bring a new era of prosperity.
A hot startup’s position in the market is defensible, either with proprietary technology, superior features, an engaging user interface, or with relentless customer service that spawns an unshakeable loyalty among its users. A hot startup is poised for growth. It has a solid business model and the business is scalable, with the goal of reaching a global market and generating significant profits. But perhaps most importantly, a hot startup company is never resting on its initial success. It is constantly innovating, improving its products and developing related products to expand its customer base.
Not all of the companies that made the list share all of these attributes, but they are well on their way. These are not house-hold names. In fact, we suspect you probably have not heard of most of these companies. That’s one of the things that make them hot. They are becoming successful and growing steadily, not on hype, but on results.
