India is one of the largest start-ups in the world. Under the Startup India programme, around 27,000 start-ups were registered under the programme till 2020. But an IBM study shows that about 80-90% of start-ups fail. Lack of suitable business models, poor planning, and lack of different ideas are some of the reasons why start-ups fail.

Let's take a look at how some start-ups in India have failed in less than 5 years.

1. Cogxio

An online dating platform that allows users to find people they are interested in and then meet and chat in person.

The reason for the failure:
At that time, online dating was an unfamiliar concept in India. The product is not suitable for the market. Due to the lack of funds for marketing, growth was not possible and it took a long time to become an Android app.

2. It's just buy live

It was a B2B e-commerce platform to make brands available to consumers using simple technology. Despite the best investments, they stopped operations within 9 months.

The reason for the failure:
The traditional B2B supply model is built on credit. Due to the impact of demonetisation, many customers did not repay their loans. Financial difficulties were experienced due to lack of an efficient business model.

3. Taskbob

Customers were immediately provided with high-quality accommodation and services, and the efficiency of technologies was increased.

The reason for the failure:
The profit margins have come down due to lower fees on orders.
Customer satisfaction is low due to poor quality of service. It affected the repetition of orders.

4. PepperTap

It was a platform that provided consumers with online grocery products at low prices.

The reason for the failure:
A huge amount of money is spent on marketing to get customers. There were problems in the supply chain, leading to many orders being rejected.

5. ZebPay

It was a platform that allowed users to buy and sell cryptocurrencies such as Bitcoin.

The reason for the failure:
In 2018, the Reserve Bank of India (RBI) restricted banks from dealing in cryptocurrencies.

6. The CardBack

It was a platform that helped users access offers and incentives on credit and debit cards.

The reason for the failure:
In the early days of the Indian market, many did not use credit cards.

The main reasons for the failure of start-ups are lack of knowledge about the industry and financial constraints. Before such a situation arises, it is necessary to prepare. Many start-up programs in India place an emphasis on learning and helping entrepreneurs. This will help your business grow in the long run.