Startups are everywhere, but why only a few succeed

The other day, while waiting for a subway train in Shanghai, I was following the news updates on the platform TV. Suddenly, a woman in her early 20s materialized and asked me to use my smartphone to scan the QR code on a plastic fan she was holding.

I was taken aback by the way she interrupted my news viewing. To get back to news quickly, I apologized politely and declined to scan the code.

She did not give up. "Please spare one second. If you scan the QR code, you could get this fan for free. I'm part of a bunch of young people starting up our own business. It is not easy to set up a company. Your help could make a difference."