Fine tune the opportunity

In part one of a two-part series, the author talks about how startups can identify a need gap

Entrepreneurship is fascinating and is increasingly becoming a career option for many people. Success of firms such as OYO and Uber have given confidence to young people to set up their startups. With lowering entry barriers for enterprise startups, there is renewed confidence in students to be entrepreneurs. 

What is not often discussed is that most startups fail! The failure rate has gone up from about 50 per cent in the first five years to close to 90 per cent in recent years, thanks to the growth in online venturing options. It will be interesting to discuss what makes the few