Cognitive biases kill startups – aware, awake and free yourself India has about 50,000 startups. 1300 new startups were born in 2019. This is quite encouraging but 90% of Indian startups fail within the first five years. There are several reasons for failure- inappropriate products and inappropriate business models are major reasons apart from lack of finance. In other words, startups offer solutions to the problem which either the society does not have or the solution is inappropriate, and, the assumptions behind the design of the business model is not correct. Research suggests assumptions are highly affected by the cognitive biases of the decision makers. Research also suggests that the decision-making environment for the entrepreneurs is highly uncertain and complex as a result the entrepreneurs get influenced more by the biases than the general population. Another important observation from the research on entrepreneurship is the desire to start a business is must to st
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