Yes, startups fail, but entrepreneurs don’t! This is an undeniable fact. 2017 has seen some of record breaking fund raisings and set new milestones for the ecosystem; not to forget Flipkart’s $2.5 billion funding from SoftBank Group.
If we look at the report by Institute for Business Value and Oxford Economics, it highlights that more than 90% of startups fail within the first five years. Whereas, 2016 NASSCOM states that the reason behind the failure of startups in India is none other than lack of innovation which led some startups to shut their shops within a few years of their inception.
The year 2016 witnessed a huge number of startup shutdown in India, along with many previously well funded startups. It’s hard to generalize the reason behind startup failure, but what is certain, is that entrepreneurs try and startups fail!
A startup failure is actually the success of an entrepreneur, which not only teaches them, but the entire communities about “what and what nots“! The year 2017 is about to over, and yet it has seen many startup closures. We’ll tell you about some of the least expected shutdowns that happened in the past 9 months.
Check out our 30sec video to know all about it!!