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Startup Failures

The Truth About Startup Failures


As exciting as new technologies are, the sad reality is that around 90% of tech startups are doomed to fail. This happens for various reasons as outlined in the chart below, and is not always a bad thing — as savvy entrepreneurs typically learn from these failures to come back with stronger businesses which avoid the pitfalls they have encountered in earlier attempts. 
At eleva8or we research and study failures closely to identify trends, help boost the startups’ success rate and also assist companies in recovering from failure. Using figures collected from our research and the global typical failure rate of    75-90% among tech startups, we have produced the projections below for the GCC region to illustrate the point.

eleva8or is currently working on an Auction platform which can help startups sell off their assets, IP and gathered traction to other investors or entrepreneurs. This can include hard assets such as office equipment and vehicles, and soft assets such as app code, patents and social media followers. Stay tuned for a release announcement soon on this useful tool, which will come to the service of around 90% of startups around the world!

Below is a sample screen showing how the auction will work, as it will include detailed information about the company for potentials buyers to evaluate and bid.