7 Main Reasons for Startup Failures In India

Startups are coming up everywhere throughout the nation. Bangalore, New Delhi and Mumbai remain the key startup centres yet different regions like Hyderabad, Chennai, Pune, and so on are not very a long ways behind. There are a great deal of positives however the reality remains that 80% of new businesses bomb in the initial three years. It’s unforgiving yet a reality. There are various reasons why a startups fall flat and in the wake of experiencing a significant part of the web.

Here are 7 reasons why majority of startups fail

1. Building a wrong product

Building a product without really validating the thought through potential clients is an awful move. As is building a product that takes care of a trivial issue in a client’s life instead of one which is the significant agony hotspot for them.

2. Not having the capacity to assemble the correct group

Frequently in a rush to dispatch their product early, new businesses tend to assemble groups with individuals who have almost no enthusiasm for the product. This prompts to disappointing results as the people working never give their best for the product.

3. Absence of special incentivised offers

In the event that your product neglects to convey at least one USP when contrasted with comparative products accessible in market as of now, your product will undoubtedly fizzle. Before you begin fabricating your product, make sense of no less than four unique feature which will help you emerge and give an upper hand expanding your benefits.

4. Absence of tirelessness

On the off chance that the startup originator does not have a solid energy for their product, they won’t have the capacity to hold on through the terrible circumstances, which is a given in a startup run, more regularly than great circumstances. Awful circumstances address the confidence of founders in their product. Absence of confidence frequently prompts to intermittence of the item, which prompts to startup disappointment.

5. Neglecting to pivot/alter course

Frequently because of the affection for their underlying/first idea, new businesses, regardless of realising that they are building a wrong product, don’t pivot. This prompts to wastage of time, assets and cash as well, in the end prompting to failure.

6. No guides or consultants

It is constantly great to have a mentor for your startup. Going alone there are more odds of you committing errors that may lead you to failure. Experienced coaches can control you in your everyday choices to abstain from tumbling off the bluff.

7. Gradualness to dispatch

Firstly, every thought bites the dust in the event that it is not executed on time. This is a result of the straightforward certainty that we begin losing interest and begin under organizing over the long haul. Furthermore, in today’s quick moving business world, ordinary a huge number of items are tackling a similar issue. In such a situation, deferring the dispatch of your product may really desert you the opposition, which will inevitably prompt to item disappointment.

5 startup trends to watchout for in 2017

jpgBy Ashish Mittal
With the year 2016 drawing to a close, it is time to pick up some key trends that will shape how next year may look like. Sentiment in the startup space is bullish, but not unnecessarily euphoric. With that in mind, some broad themes that one can expect to play out next year:

Valuation is not the name of the game
It became clear somewhere towards the end of 2015, that the valuation game had to end. Lofty valuations and raising $1 million in seed rounds, which had become normal mid-2015, gave way to rational thinking. In 2016, the emphasis has been on business metrics like revenue and profitability. In fact, 2017 will be the year when startups had to raise money at a more realistic valuation, driving home the fact that this year’s euphoria and hype is not sustainable. Continue reading “5 startup trends to watchout for in 2017”

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STARTUP WEEKEND VANNI HAS BEGUN

It was only six months ago, that we saw the global phenomenon that is Startup Weekend first come to Sri Lanka. It all began with Startup Weekend Jaffna where we saw 12 young startups take their first steps in a single weekend. Only a few months later, we saw Startup Weekend Colombo – the second Startup Weekend in Sri Lanka. And today, we are at the University of Jaffna for Startup Weekend Vanni.

There are approximately 100 participants inside the auditorium of the Faculty of Engineering at the University of Jaffna. For 54 hours, they will brainstorm, experiment, validate and build a business idea. When the weekend ends, the participants will have taken the first steps in building their very own startup. Continue reading “STARTUP WEEKEND VANNI HAS BEGUN”

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How the government is creating initiatives for startups

Recently, the government’s relationship with startups changed drastically. During last year’s Independence Day, Prime Minister Narendra Modi initiated the Startup India campaign to improve the environment for startups across India. Not even a year has passed since the announcement was made and already so many restrictions have been removed, and incentives put in place:

Financial Support

The Prime Minister’s slogan “Fund the Unfunded” has led to the strong endeavor of the MUNDRA bank. This provides small startups with the finance necessary to facilitate the everyday needs of the business. Whilst ensuring the adequate credit is provided, the bank safeguards startups by asking for their repayments within a very reasonable timeframe. Benefitting over 58 million small business owners in India, the initiative is clearly crucial for those without the option of mainstream credit. Continue reading “How the government is creating initiatives for startups”

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Startup ecosystem is lucky to have Tata’s support and backing, startup world expresses support

Amid the corporate war raging within Tata Sons, which has also highlighted Ratan Tata’s work as angel investor in startups after his earlier retirement in 2012, startup founders have come out in strong support of the Tata scion. Ratan Tata-funded cab aggregator Ola founder Bhavish Aggarwal said in a recent online article that the former has been the most important person, both for him as well as Ola.

“What seems to be a case of a large shareholder losing trust and confidence has become ‘heels dug in’ public fight with a lot of mud being thrown around,” Aggarwal wrote. “Tata has been very active in investing and supporting the young startup ecosystem. His investment amounts are small and clearly wouldn’t make much of impact to him either way financially if the company does well or not. Its very clear that he does this out of passion and through a desire to help and engage with the community,” he added. Continue reading “Startup ecosystem is lucky to have Tata’s support and backing, startup world expresses support”

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Paytm opens office in Vishakhapatnam, to add over 1,000 offline agents in Andhra Pradesh and Telangana

Paytm announced on Saturday that it has instituted a new corporate office in the coastal city of Visakhapatnam.

The company claims that the decision was made owing to a strong surge in payment transactions across all major cities in Andhra Pradesh and Telangana (including Vijayawada, Visakhapatnam and Hyderabad).

To support the growing demand for cashless solutions in the region, Paytm has also announced that it will add over 1,000 offline agents to its Andhra Pradesh and Telangana team.  Continue reading “Paytm opens office in Vishakhapatnam, to add over 1,000 offline agents in Andhra Pradesh and Telangana”

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Time to Startup, India!

The recent Startup India event has generated considerable excitement and energy amongst entrepreneurs and the supporting ecosystem. The sound and light around the event has been amazing. As the week rolls over, and the marketing euphoria settles down, the focus must shift to the real impact that this event and announcements around it may make.

First things first – I would not discount the positive impact that can be had just from the focus and status that has been accorded to startups through this initiative. Such focus can help channelize energy from all elements of the ecosystem – from entrepreneurs to investors, and from mentors to academia. That by itself is a credible achievement. Continue reading “Time to Startup, India!”

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B2B Commerce Company Moglix Launches GST Technology for the Manufacturing Sector

Leading B2B commerce startup Moglix, today announced the launch of its GST (Good and Services Tax) technology for the manufacturing sector. In its endeavor to boost the manufacturing sector, Moglix aims to empower SME to large suppliers and buyers through its GST technology (business.moglix.com) to file indirect taxes seamlessly, while maintaining a close vigil on the 100% reconcilability of the entire value chain. Recently, Moglix partnered with a couple of GSP applicants to demonstrate its GST technology to the GSTN (Goods and Services Tax Network) panel for taxpayers and businesses to achieve 100% compliance. Continue reading “B2B Commerce Company Moglix Launches GST Technology for the Manufacturing Sector”