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What's a tech startup?

StartupAus ( have defined a tech startup as having these characteristics:

Technology is central to the product/service being provided.
High leverage of the labour input to the product/service so that the business can scale rapidly.
The product/service is a ‘disruptive innovation’ in that it helps create a new market or new supply chain/network which disrupts an existing market.
Revenue under $5 million per year.

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