Over 90 percent of Indian startups fail within the first five years. No surprise there as that is the global average as well. The surprise lies in the most common reason for failure of startups in India: lack of innovation, according to an IBM (NYSE: IBM) study.
“Many Indian startups lack pioneering innovation based on new technologies or unique business models. Indian startups are prone to emulate already successful global ideas,” global ideas,” say 77 percent of venture capitalists surveyed under the study.
Here are its key findings: