Sanjeev bhai, Is it sensible to start a different startup with an existing, excellent team that failed to get funding for its initial idea after 3 years of development? We don't have a new idea yet, but our advisor is confident we can secure initial financing.

Ans: I have my serious doubts if that will work – old wine in a new bottle!

A better idea may be to first find out what part of your projections to potential investors did not work – they did not find workable enough? Was it the business idea, scalability, profitability, doubts on team’s and its management’s capabilities, external environment or comparison with the current and/or anticipated competition? In fact there could be many other reasons including those which you did not take into account when you were making your pitch to them.

To my mind, unless you find the reasons, or at least some sense of your weak points, your hard work may again face the same risk down the line.