In the beginning, startups face high uncertainty and have high rates of failure, but a minority of them do go on to be successful and influential. Some startups become unicorns; that is privately held startup companies valued at over US$1 billion.CBInsights’s analysis of 101 startup postmortems suggests that the top 3 reasons why startups fail include lack of market need; running out of funds and not having the right team. But that’s a global view.On this episode of PodChats for FutureCIO, Paddy Tan, managing partner at BlackStorm Consulting, shares his opinion and analysis on the startup landscape in Asia and what makes or breaks start-ups.1. How has the environment for startups changed in 2020? Has it improved in 2021?2. Can you cite 3 common mistakes startup entrepreneurs make during the early stages of a startup’s development?3. How can startups use the challenges presented by COVID to their advantage?4. Any advice you have for entrepreneurs to be more successful in starting their own business? In the recruitment of talent? In pitching their business to customers? In finding funding support?

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