87 Indian Tech Startups Pulled their Shutter Down in 2012


The study also points out that 61 startups closed down as they were unable to raise funds while 43 other ventures shut down as they were incapable of collecting funds quickly. 28 startups lost their chance of existence as were unable to attract customers and 19 startups pulled their shutters down due to conflict between founders.

Shockingly, 61 percent of first time failed entrepreneurs have started working at a larger company by calling off the entrepreneurial journey. The report says that only 9 percent of first time failed entrepreneurs have been courageous enough to take up another venture. Remaining 30 percent of other startup entrepreneurs have carefully opted to work in another established startup.

The study also gives information on closure of projects; it says that around 135 founders have kept their ventures aside as side projects. It also points out that around 36 founders sold their firm while 19 founders completely shut down their business operations.

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