Start-up guides entrepreneurs by learning from ‘failures’

Every year, over 75% of new & small companies worldwide shut down. As a result, Flipidea developed an 'idea checker' to predict the failure rates of its users' proposed or existing business.

Start-up guides entrepreneurs by learning from ‘failures’


A BRUNEIAN start-up is on a mission to guide aspiring entrepreneurs and students to discover analytical insights by learning from failed start-ups and business failures.

Flipidea co-founder and CEO Paul Lee said statistics reveal that over 75 per cent of new and small companies around the world shut down every year. The failure rate is high. This means seven out of 10 companies are likely to fail. He said, “This is why we built our DaaS (Data-as-a-Service) platform to focus on business failure data gathered from around the world. The purpose is to enable our users to draw insights from the failed businesses and learn from their reasons for failure.”

Flipidea is a DaaS platform for searching information and data about failed businesses, such as post-mortem analysis, competitors analysis, bankruptcy reports, amount of investment raised, past founders and investors profiles, and more. Flipidea’s database systems are primarily designed with the aim of reaching full autonomous data collection, translation, and storage, because it sources its data with AI and machine learning.

In solving the issues, Flipidea developed an idea checker to validate its users’ proposed or existing business ideas, and predict their failure rate.

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This article has been republished for our audience which was originally published by James Kon from Borneo Bulletin on 24 August 2019.

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Our proprietary data retrieval systems scan the Internet to monitor, gather and clean relevant, aggregated, and public information from news articles, websites, press releases, regulatory filings, and so on. Flipidea’s idea checker, tools, simulations, intelligence and algorithmic systems are powered by artificial intelligence and advanced analytics using our own proprietary data and synergised public data. Flipidea does not warrant the completeness or accuracy of data provided, so you would need to independently verify the information. Nevertheless, we encourage you to check the accuracy of our information before its use. We also gently advise that you obtain sufficient knowledge, market understanding, professional advice and experience to make your own evaluation of the merits and risks of any actions with the information.

Last edited on 12 March 2022.