 the risk involved and tools to avoid or mitigate the risk. Sometimes the entrepreneurs is unable to estimate the risk involved in the selection of first application. And since the enthusiasm that technology which he has at its disposable at its disposal and The product which he wants to make out of that technology whose zeal or enthusiasm sometimes will risk-westimates. Underestimation of risk involved and time required to turn technology into a working prototype hinder potential growth. This application is when we launch its success with a failure. What are the chances? And because entrepreneur usually product-oriented and technology is appreciating the risk related to it, sometimes is unable to understand. And the other technology is unable to estimate the time required to convert it into an application. It is due to the fact that the product is late or the product is not able to come in the market. Both the conditions are affected. Sometimes the overestimation of the opportunity that the rainbow that is visible at the end of the rainbow, the gold what is visible at the end of the rainbow may be the estimation or expectation is not the same. And this is all because of the gut feeling and it is not based on certain market research. So the overestimation of opportunity or underestimation of the risk is a little complex for the market situation. As a result, the new product application is either launched before it is ready half cooked or semi cooked the product is put in the market or is never launched at all. Or it takes so much time to make it, to give it an estimate that the opportunity is over. Your competitor takes the better product in the meantime in the market. So in both cases, our failure is the result and bankruptcy will follow. In both the situations where the product is not made or the product is not completed in the market and the estimation can be properly risked then there are many chances of the company's failure or the product's failure because it can be very harmful for the entrepreneur. So it is better to first develop and launch a simple or feasible application. You can make it technically relatively easy and you have clear market and you can start a model from it. So turning this into a success will help secure the startups survival and allow the development of a more difficult application. When you launch it it will sell you will have cash flows you will have information you will have experience or exposure of the market and you will have experience of making a product. You will be able to make more technically complex applications and other far-fetched markets you will be able to market your application. So to avoid risk select first application from a set of alternative is the real option approach. And the R&D research and development managers they allocate their research and development budget among diverse projects. Some of the possible applications they are investing on so you have to select the real options. So rigorous R&D activities help the scene makers to select a option having best real option approach. Real option approach is a tool used to select a single best option. It can also be used to analyze the most desirable sequence in the product application. So a real option is the right not the obligation. This is a good tool through which you can assess how you have to enter the market. So to undertake certain business initiatives such as deffering, abandoning, expanding we look at these possible options the possible alternatives R&D suggesting among them which one to defer which one to abandon which one to expand or staging or contracting a capital investment project. So within those options you select which one to expand which one to defer which one to abandon so this working and looking into various options real options that can help the entrepreneur to select the right option for example you have to take the factory to the expansion or to send the factory so these are two options so you have to select one similarly what technological applications we can develop 1, 2, 3, 4 about them based on market data you select and after a while maybe we would work on this application but maybe later what are the options which we should not abandon and on which we need the expansion and on which we should invest so this in a scientific way would help the entrepreneur to select the right first option