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While companies such as Zestmoney and Striker saw their business models fail after a tighter regulatory landscape, several others simply couldn’t find their product market fit (PMF).
Key criteria define a decacorn, but what characteristics do they have in common? What makes a winner in the world of successful startups?
When Harvard Business School professor Tom Eisenmann devised a programme based around case studies of business failure, he worried at first that immersing his MBA students in tales of defeat would depress them. He was pleasantly surprised, however, that it had the opposite and very galvanising effect. Failure, he says, provides great lessons for success. âItâs easier to remember all the things not to do rather than the things that you should. I think focusing on failure is a very powerful thing for entrepreneurs,â he tells The Irish Times. Harvard Business School is also an ...
Informationweek Last year was great for new technology firms. This year could be even better. Image: sasun Bughda - stock.adobe.com Despite the multiple challenges posed by the COVID-19 pandemic, 2020 turned out to be a boom year for technology startups. According to the latest Pitchbook-NVCA Venture Monitor, US startups set a record in 2020, earning $156.2 billion, erasing the previous mark set in 2018 ($142.7 billion) and last year’s total ($138.1 billion). Jeff Grabow, US venture capital leader at business advisory firm EY, said he anticipates that the venture capital market will remain ...