NEW DELHI: The startup ecosystem in India is witnessing a major shake up as around 50 percent of young entreprenuers who went ahead and set up their own ventures in the last two years have already closed down.

According to data colated by research firm Xeler8, since June 2014, around 2,281 Indian startups had begun operations. However, of these 997 have already closed down — a failure rate of close to 50 per cent.