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PUNE: Experts at a webinar on specialised technology and startup incubators said that proper mentoring, better access to resources, and an active interface with universities and engineering colleges could help more startups to succeed.
“The rate of failure among startups in India is quite substantial, at about 90%. The startup ecosystem is not able to work to its capacity. We have to find ways to reduce the failure rate,” said Vishwas Mahajan, chairman, incubation and startup committee, Mahratta Chamber of Commerce, Industry, and Agriculture (MCCIA), which organised the webinar on Friday.
The attendees included functionaries of startup mentorship and incubation wings of academic institutions, industry collectives, among others. Several of them pointed out that having an active interface with educational institutions was necessary for hand-holding and mentoring students from the ideas stage.