Fear of Failure Still Holding Back Indian Startup Innovation, Say Expert

Indian startup ecosystem, although growing fast, is still handicapped by a deep-seated fear of failure, experts said in an interview with The New Indian Express. Most founders and investors want established business models and tend to replicate successes elsewhere rather than go after audacious new ideas. "The issue is, we don't embrace failure. That's what prevents us from growing.". We have a habit of copying what appears to work the best," industry observers said, stressing that true innovation includes embracing risk and the possibility of failure.

 

Companies like Zoho have been able to thrive by acknowledging failure and pivoting when needed, but not everyone has such an attitude. Experts opine that India requires a cultural shift-one where long-term R&D and taking risks are rewarded, not through government incentives. As long as Indian startups and investors can accept failure as a stepping stone, not a stigma, the innovation potential of India will remain untapped.

 

Source: The New Indian Express