In its product ideation and concept stage. Prototype may or may not be available.
Startups are segregated into following stages based on product lifecycle
Product has entered the market and modifications are being made based on customer/market feedback. Customer acquisition in progress and has a steady source of income.
Company is well established in the market space and there is a rapid growth in revenues. Potential to scale the business is being tapped into and attempts are being made to increase the customer base substantially.
Product has made it on a commercial basis. New products/competitor products are being acquired. Expansion into other markets is being made.