Numerous studies shows that 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% startups and small businesses crash and burn. There are over 7,500 business incubators around the world. Most of them fail. 75% of venture-backed start-ups fail. According to Kauffman foundation, VC firm failure rate is over 99%.
Some of the key challenges include; i) creating capabilities to accurately assess entrepreneurial opportunities; ii) developing operational plans and teams for sustainable growth execution; and iii) monitoring and measuring ongoing challenges and successes.