Dataset
CB Insights, 463 startup failure post-mortems from Aug 23, 2023
https://www.cbinsights.com/research/startup-failure-post-mortem/#2023updateQ223
I used the failure post-mortems for the 118 startups between 2021 and 2023. See the attached stories.csv file
#Prompt to extract failure reasons
Extract the failure reasons from this start-up shutdown. Each reason should be five words or less.
#Response from the Streamlit application
#Dataframe showing the failure stories in the dataset
#Labels of the five largest clusters
The labeling was done based on the most prominent reason for failure common to the companies in each cluster.
Cluster 2: Financial Struggles
Cluster 6: Capital Drought
Cluster 19: Capital Struggle
Cluster 0: Strategic Adaptation Challenges
Cluster 3: Biotech Challenge
#Failure reason common to each cluster is 'Lack of Funding'
#Top 5 reasons for startup failure
(i) Lack of funding
(ii) Investors not found
(iii) No product/market fit
(iv) No/wrong business model
(v) Political/economic/legal problem