According to U.S. Census data, less than half of businesses started between 1977 and 2000 lived to celebrate their fifth birthday.

Indeed, today’s entrepreneurs understand there’s no guarantee they’ll succeed. There’s even a celebratoryculture around failure in some circles. But if a startup does fail, the question is what lessons can be applied to the next one.

Case in point: MobileIgniter, a Madison, WI-based startup launched in 2011 that focuses on the Internet of Things—where device makers update offline machines with Internet capabilities—will be shutting down in August, says co-founder Tim Nott. Read the full story here.