Paper Title
An Empirical Study of Challenges Faced by Startups in Mumbai Metropolitan Region
Abstract
There has been a massive growth of Startup companies globallyin the past 5-8 years. There is a lot of emphasis
by these Startups to provide products and/or services which add immense value to a consumer‟s life. In India, Government
initiatives from the central government and state governments have given substantial impetus to startup companies and
encouragement to entrepreneurs to make India the number one destination for Startups globally. To achieve this vision the
GOI had introduced a campaign called „Startup India‟ in 2015 which was aimed with the intention to give a strong impetus
to Startups and promoting entrepreneurship(G Suresh Babu Suresh G. and Sridevi K. 2019). A 2018 study by IBM Institute
for Business Value, in collaboration with Oxford Economics, suggests that 90% Indian Startups fail within 5 years of
inception. Several authors have listed possible challenges that Startups face globally and specifically for the Indian market as
well. This research attempts to review the challenges that have been observed by researchers in India and globally, and then
identify the top 5 challenges faced by Startups from startup promoters and entrepreneurs in the Mumbai Metropolitan Region
(MMR).
Keywords - Startups, Startups in India, startup failure, startup challenges