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Startups fighting for survival

by endroar

There was less movement of people during Corona. So at this time the demand for such services including product delivery increases. The market for startups also expands. But after people returned to normal life, the demand during the Corona period was no longer the same. As a result, many organizations have faced various crises after Corona. Some startups also shut down during the Corona pandemic. They could not return to the business.

Three startup entrepreneurs and two who know and understand this sector told Prothom Alo that the major reason for the setbacks of startups is the investment crisis. Investments in the startup sector around the world are falling. It has also affected the country. Apart from this, there are other problems in this sector like lack of unique business model, not understanding the market, not being able to use funds properly.

Over 61 percent of the country's startup sector has invested in fintech (technology-based transactions and financial services-based organizations). It is followed by equipment, management and transportation (logistics and mobility), e-commerce and retail, health sector, software and technology and travel.

source

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