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Startup Patronage refers to the support and backing provided to a startup by individuals or organizations, often in the form of funding, mentorship, or resources, to help the startup grow and succeed.
Synonyms: startup support, startup backing, startup sponsorship, startup mentorship
Startup patronage typically involves investors or experienced entrepreneurs who provide capital and guidance to early-stage companies. This support can come as financial investment, advice on business strategy, or access to networks that open doors to new opportunities.
Startups often face challenges like limited resources and market uncertainty. Patronage helps bridge these gaps by offering the necessary funds and expertise to navigate early hurdles, making it easier for startups to develop their products and reach customers.
A common example is an angel investor who not only invests money but also mentors the startup founder. Another example is a business incubator that offers office space, training, and connections to startups in exchange for equity or future returns.
