India, Sept. 4 -- Among other things, the two biggest reasons for people not giving wings to their entrepreneurial dreams are fear of failure and age. Fear of defeat doesn't let people venture out of their comfort zone and try new, exciting and innovative ideas. In fact, failure and the lessons learnt from it can become an asset for an entrepreneur, as loss is a great teacher. This intrinsic ability of bouncing back from a debacle and a never-say-die attitude makes an entrepreneur successful. Similarly, with the advent of booming techpreneurs around the world, there is a notion that youth is must for entrepreneurial success.

However, a study by Kauffman Foundation discovered that the average age of successful start-up founders was 40, wi...