Most of the people dream to be an entrepreneur. Some give this dream a try with setting up a startup but not everyone succeeds. Some of them who fail may give it another try and eventually succeed but a few may give up after a first try. The reasons for all these are varied and unique to each individual. Whatever the success and failure rate of the startups they come with some unbelievable facts.
Let us find out some of these facts of the startup world says Jignesh Barasara.
- The average age of a startup founder in India is 28. So you can see there a lot of young entrepreneurs who have a desire to venture into the business world on their own at a young age.
- With about 3-4 startups set up each day India stands third with more than 40K startups setup in the world after the US and the UK. And these employ nearly 85K people among them.
- As of the first half of 2018 about more than $ 3 billion has been invested in about 236 deals. Most of them have got the backing from angel investors and venture capitalists. Yes, this too less compared to the funding and startup set up in 2017 with nearly $ 13 billion invested in about 900 deals.
- About 95% of the startup founders are graduates or degree holders. This is contrary to the belief that most startups are set up by people who drop out of college. And most of them have got a good academic record too and rank among the top 30%.
- The industries of startup to have the highest success rate at 58% are real estate, finance and insurance. The worst fairing are the information companies having a 37% rating.
- The startup founders usually talk in millions and billions even if they do not have thousands.
- Making of a business document is found to be more difficult than answering exams by most of these startup founders.
- Most of the startup founders usually read the biographies of entrepreneurs after they venture into business.
- In their initial days the laptops seem to be the best of companions of the startup founders.
- Most of the startup founders depend on their friends and family for their personal expenses. Usually they cannot afford salary in the initial days and need this kind of support to keep them going.
- A startup founder learns it the hard way that setting up a business is not an easy task. It is one of the most challenging thing and success rate is bleak.
- At least 20% of the companies and startups go the M&A way in the first year of their founding. While a third of them fail to go beyond that and fizzle out.
- In the present scenario more tech companies are founded than any other and are more successful too.
- One of the prominent reasons for a startup failing is the premature scaling.
- Traditional marketing works more than the digital marketing in the initial stages of the startup.
These are some of the facts that you would not believe existed in the startup world. But these are the facts that have been found to be experienced by most of the founders who have delved into entrepreneurship in their life. Of course this is not an exhaustive list there are many more such facts that can be experienced by different business people at different times.