LetsVenture, Axilor Venture survey 500 startups to pinpoint hurdles faced by early-stage ventures

Deal-making platform LetsVenture, with startup accelerator Axilor Ventures, surveyed over 500 startups to pinpoint the hurdles faced by early-stage ventures. The results threw up a common problem – too much focus on fund raising, too little on building a business. “72% of startups in ideation stage or proofof -concept stage are treat funding as their primary problem, said Ganapathy Venugopal, cofounder, Axilor Ventures. “These companies should not be worrying about funding but about validating the problem and the market they are entering into.” Startups, the survey found, which are burning cash too fast to acquire customers often do so due to a lack of quality mentoring.