Startups are companies or ventures that are focused around a single product or service that the founders want to bring to market. These companies typically don’t have a fully developed business model and, more importantly, lack adequate capital to move on to the next phase of business. Most of these companies are initially funded by their founders. Many startups end up turning to others for more funding—family, friends, and venture capitalists. Silicon Valley in California is known for its strong venture capitalist community and is a popular destination for startups, but is also widely considered the most demanding arena. Startups can use this seed capital to invest in research and to develop their business plans. Market research helps determine the demand for a product or service, while a comprehensive business plan outlines the company’s mission statement, future visions, and goals as well as management and marketing strategies.