Chandigarh:
IT experts
on Wednesday claimed that most
start-ups fail
due to lack of
appropriate mentors
, prompters and guides. The experts and industry leaders were speaking at the launch of LeapAhead
Start-up summit
held on Wednesday. While speaking out his experience, Chief Mentor and founder, PadUp Ventures, Pankaj Thakar said, “It is really saddening to see 95% of the start-ups failing and only 5% tasting success.
There are many causes but the basic reason for the failure of a start-up is lack of appropriate mentors, prompters, and guides. They do chase their dreams but fail to take it to its logical conclusion. They lack ideas and perhaps are not aware on how to go step-by-step for a successful start-up.”
While counting the points for a successful start-up, he said that one must first start learning about the idea and identify the problems. “The second step is that he/she must find out whose problem it is and try solving it. Pinpoint the right market and put the right people on one’s side. Learn how to build your innovation and the most important factor is to look for an appropriate mentor,” Thakkar said. He added, “A mentor who can hold your hand and plough the road to the success of your start-up, but it is very hard to find one such mentor.”
The key speakers for the summit were Citizen Resource Information Department (CRID) principal secretary V Umashankar; Chief Information Technology Officer & Deputy CISO Munish Chandan; special secretary (finance) Hargunjit Kaur, Punjab principal secretary Tejveer Singh and scientist Ajay Prasad Shrivastava.
Apart from them, key investors and industry leaders like IS Paul, Girish Shivani, Sushil Sharma, Pankaj Thakkur, Subodh Sachan and others spoke out their experiences about start-ups.
WHAT IS LEAP AHEAD?
STPI, in collaboration with TiE Delhi-NCR and a prestigious group of investors, is launching LEAP AHEAD (Launchpad for Tech Entrepreneurs towards Accelerated Growth and Pioneering AHEAD) - a pan India initiative to select tech startups for high-quality mentorship, securing investments & establishing global connections. “This is a remarkable opportunity for startups to accelerate their growth,” said a participant.
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