In a growing economy like ours, start-ups have become common. According to a report in 2015, Start-up Village based in Kochi creates one entrepreneur a day. Since its inception in 2012, it has produced 533 start-ups till 2014. Of these, 293 have been student start-ups from which, 116 are active, 149 inactive, and 28 fizzled out. So, why is there is high rate of failures among start-ups? Here’s taking a closer look.
Lack of Drive
“The drive to take up a challenge and turn it into a success is very low,” says Manoj Chandran, founding partner of Start-up League, an organisation that aims in building responsible entrepreneurs. “Nearly 90 per cent of start-ups originate looking at the success of others and not due to their own passion,” he says.