A startup is a business venture which is a newly emerged business model that aims at meeting market needs by offering innovative services, products or a process. A startup may be technology oriented and has growth potential.
The startup culture is becoming rapidly popular in many parts of the world including India and more youngsters now prefer to be their own boss. But it is a proven fact that 9 out of 10 startups fail within 3 years of initiation which is as high as 80% of the total startups. You will come across stories of success and achievements of many companies but very few will come forward with their reasons of failure. But it is only through failures that one can learn the best.
There are multiple reasons for the failure of tech startups today. Some of them are as under: