A Startup Business is a firm or project initiated by an entrepreneur to seek, effectively develop, and validate a scalable business model. While entrepreneurship refers to all new businesses, including self-employment and businesses that never intend to grow big or become registered, startups refer to the new businesses that intend to grow large beyond the sole founder. Startups face high uncertainty and have high rates of failure, but a minority of them do go on to be successful and influential. Some startups become unicorns, and some privately held startup companies may be valued above US$1 billion.