#6 Brij Bhasin

Bhasin says, Failure is just a 'stepping stone', He started Boost Tech last September and within 14 months he had to shut down his startup.

He funded his savings $15,000 and started Boost, the company was into customer relation management and provided analytical solutions for the retail sectors, the company had to close as there was no source for additional capital.

According to Bhasin  "when the idea is not working out, there should be a planned and informed shutdown, Managing cash is key to the long-term success of a new venture, Entrepreneurs should think about viable models and build up revenue early on."

Later he joined GSF Accelerator, having network of over 20 investors, and is dedicated in helping startups to provide seed fund. Bhasin added “In the U.S. there is great demand for people who have failed. Venture Capitalists have more trust in failed entrepreneurs than in freshers."

#5 Sanjay Swamy

He was the CEO of mobile payment company mChek, and later stepped from his position as there were too many operational challenges.

Not dejected by this, he later volunteered for the Unique Identification Authority to ponder on more his options. He co-founded ZipDial, a mobile marketing company and within two years it had a portfolio of more than 400 clients.

Also teaming up with volunteers in UIDAI, Shripati Acharya and Bala Parthasarathy, went on to setup Angel Prime, a startup incubator. According to Swamy, "There is no shame in failing at something big - the only shame is in not trying."