Enterpreneurship in India : Failing to Succeed

Entrepreneurship in simple words can be explained as planning, executing and controlling a business, venture or an organization, initially small. The person as an individual or in a group who creates the business are known as entrepreneur. The business venture so created is popularly known as start-up. A report by IBM Institute for Business Value and Oxford Economics found that 90 percent Indian start-ups fail within the first five years, lack of innovation being the main reason. There is a saying, “Start-ups don’t die, and they commit suicide. In other words, 90 percent of start-ups fail because the founders get bored, discouraged, or something else and they move on to other things, not because of some catastrophe. No matter how dark it is today, things will always better tomorrow.” — Justin Kan, Justin.TV. This paper is an analysis of how and when the concept of entrepreneurship emerged in India, its present status and the reasons behind the failure of Indian start-ups