"Last year, we got about USD 13.65 billion funding (in startups). Today they have created about USD 95 billion of value", Pai told said in an interview.
All startups have bright future, Pai said, adding that those who work well succeed.
But the mortality rate is very high. About 60 per cent of them will fail. That is the nature of the industry, Pai said.
Pai, chairman of Manipal Global Education, believes that most startups may not scale up or get a market as they are all started by first time entrepreneurs.
First time entrepreneurs may not know how to tackle the business but the good news is that even if they fail the experience they get from building a business or becoming a problem solver is enormous, Pai said.