When nine out of every ten startups fail, how can a creative team of ambitious entrepreneurs improve their chances of success? Autopsy.io – a site dedicated to failed startups – seeks to help new startups avoid the mistakes made by others. In an effort to gain some insight on key themes of failure, Expert System conducted an analysis of the data submitted to Autopsy.io. Using its Cogito content analysis technology, which works to read, understand and analyze text as humans do, Expert System provides some intelligent insights into the debilitating challenges new startups encounter.
What are the most common reasons startups fail? Leveraging semantic technology, which works to automatically generate a fast and accurate understanding of text in the proper context, far beyond the limitations of traditional technologies based on keywords or statistics, Expert System determined the top 10 concepts cited when describing failure were Company, Product, Investor, Startup, Money, App, Team, Website, Market, and Client.