Page 115 - Cyber Defense eMagazine June 2024

The Pitfalls (and How to Avoid Them) for

Cybersecurity Startup Founders

By Sercan Okur, CEO, NextRay

The cybersecurity landscape is a battlefield, but the biggest threats don't always come from external
hackers. As a seasoned warrior in this space, I've seen countless founders, brimming with passion and
potential, stumble upon roadblocks that could have been avoided.

According to a study by CB Insights, 42% of startups fail due to the lack of market need for their product.
Additionally, 29% fail because they run out of cash, and 23% fail because they don't have the right team.
These statistics highlight the common challenges faced by startup founders in the cybersecurity industry.
In a study by the University of Pennsylvania, it was found that 70% of startup tech companies fail due to
premature scaling. This emphasizes the importance of strategic growth and timing in the cybersecurity
startup landscape.

Cyber Defense eMagazine – June 2024 Edition 115
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