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The A to Z of Entrepreneurship

SafirAdeni
President-TiE Hyderabad
Wednesday, February 3, 2016
SafirAdeni
Established in 1992 by a group of successful entrepreneurs, TiE is a non-profit global community for entrepreneurs who are looking for potential investors and industrial expertise. It is currently the world's largest entrepreneurial organization and boasts of launching programs like TiE Young Entrepreneurs (TYE) and Mentor Match to help the individuals fulfill their entrepreneurial dreams.


What are some of the major startup challenges currently prevailing globally?

The major challenges for startups can be summarized in 5C's: Co-founders, Colleagues (team), Competition, Cash (funding) and Customers (market fitment).

These days with the explosive spurt in startup culture, every youngster has an interesting idea of their own which they are extremely passionate around. This makes it quite a challenge for two or three of them to come together to rally around a common idea. On the flipside, it has been proven that startups with less than two co-founders, fail at more than twice the rate of those with two or more co-founders. Hence it is extremely important for an entrepreneur to find a strategically complementary Co-founder who is also passionate around the same idea.

The second challenge is finding the right set of Colleagues (team members) who can wear multiple hats and ride the roller-coaster journey.

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