I remember reading in some article about indie game development that the author suggested that is it better to be an upstart company than and start-up company but never really explained the difference (wish I could find the article to link). What is the difference from the two, if there is any. The tone of the article gave me this impression: Start-up: A company that gets outside funding in advance or at some point before release of its first project. Upstart: A company that using internal funding only for its first project and then tries to use the profits from that project to fund then next. Is this correct?