2. A startup is a human institutiondesigned to deliver a new product or serviceunder conditions of extreme uncertainty. - Eric Ries
3. A startup is an organization formed to search for a repeatable and scalable business model. - Steve Blank:
From the definitions above, a start-up is not yet a business, it is more like a moving object without precised direction and destination under high level of uncertainty, and its operations are temporal until it finds a proper business model.