It’s 2019 and it is easier to get someone to act on something through a WhatsApp
forward than on real-life evidence. WhatsApp forwards, Tweets and Instagram
posts are nuclear weapons for anyone looking to move mountains in this Digital
Age - but what gets lost out behind those 10-second “inspiration” videos of
overnight success stories are the years of hard work and countless failed
attempts that go into making anything an ‘overnight’ success.
What are the fun facts we would like you to know? Well, here’s one: 90% of all
1. 25% of startups fail within their first year.
2. Of those remaining, 36% will fail in their second year.
3. Of those that survive their second year, 44% fail in their third year.
4. And finally, another 50% fail in their fourth year.
As sadistic as this discourse might sound, the idea is neither to dissuade new
entrepreneurs from dreaming big, nor is it to further glorify the survivors.
At FavcyX, we realise that 2 in 3 startups are bound to fail owing to the
Digital Waste that even the world’s top enterprises suffer from. But
exactly what FavcyX is solving for startups at scale - by providing a shared
tech platform built on Favcy’s proprietary OS. The idea is very simple -
providing startups and enterprises a shared tech platform to maximise value from
technology and recycle any digital waste that might arise from it.
Not convinced with the sharing economy model? Let’s throw some facts at that
and Uber, the flag-bearers of the sharing economy have a combined
market cap of more than $ 100 Billion, making them bigger than the 38th
wealthiest country in the world.
2. According to McKinsey,
20-30% of the workforce is Europe and the US are
already providers in this sharing economy
Increased returns at lower costs - the sharing economy is all about greater
efficiency and at FavcyX, we are looking to bring that into building Digital
Products. So how does it work?
#1: Prevention is always better than
Why recycle or reuse when you can reuse? That has been the golden rule for
waste management, and there is no reason why it should be any different for
At FavcyX, we make sure that you get your strategy right before you even
embark on your Product Development journey, because Digital Waste has very
little to do with technology and more to do with strategy. Read more about
#2: The method to the madness
With a highly scientific method right from product strategy to go-to-market,
at FavcyX, we make sure that we eliminate Digital Risk that stems from
picking the wrong strategy and from poor execution.
#3: Building bootstrappable products
We believe in building products that can withstand the unpredictable
investment tides by building on a strong foundation of bootstrap-friendly
Digital Products. It is never wise to expose any business to external
variables that are beyond reasonable control, and the fundraise rat-race is
one such red flag. Worry not - at FavcyX, we have you covered!
#4: Failed Digital Products can be
What did not work for Product A, need not always fail for Product B. With a
thought as simple as that, we allow all products that fail to simply
collapse on the FavcyOS - allowing them to be picked up and recycled later
Oh, and it’s not just something that we like to harp about - you can hear it from some great startup
founders that we
have had the great fortune of working with
Shared Tech Platform