Failures and Resilience in Entrepreneurship: Lessons from startup setbacks

Ritesh Ranjan1
  • 1 Jai Prakash Vishwavidyalaya, Rahul Sankrityayan Nagar, Chapra - 841302, Bihar.

Abstract

This review paper titled "Failures and Resilience in Entrepreneurship: Lessons from Startup Setbacks" provides a detailed examination of entrepreneurship in India, focusing on the challenges posed by startup failures and the subsequent resilience displayed by entrepreneurs. By analyzing recent years, the study highlights notable instances of failure within India's startup ecosystem, including Snapdeal, Practo, and Paytm, and uncovers the complex hurdles faced by entrepreneurs. It particularly emphasizes how entrepreneurs respond resiliently to setbacks. The paper identifies various adaptive strategies used by entrepreneurs, including iterative learning and strategic adjustments, to navigate through adversity. By dissecting these failures and exploring the ensuing resilience, the paper contributes valuable insights to understanding entrepreneurship in the Indian context. It stresses the importance of using lessons learned from setbacks to guide the actions of policymakers, investors, and aspiring entrepreneurs. Ultimately, the research aims to foster an entrepreneurial environment in India that not only encourages innovation but also nurtures resilience, thereby advancing entrepreneurship in a sustainable manner

PUBLISHED
2024-05-07
ISSUE
Vol 3 Special Issue (2024)

Journal Details

   ISSN : 2583 – 7117

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