Definition: To establish or create something, such as a business or organization.

例: The team is working hard to set up the new company by the end of the year.

Japanese translation: 設立する (せつりつする)

例文: チームは年末までに新しい会社を設立するために一生懸命働いています。

Note: "Set up" can also mean to prepare or arrange something, such as a meeting or event. In that context, the Japanese translation would be "準備する (じゅんびする)".