Does a startup always need a new idea 
prabodh: thank you for the answers...other big problem is getting the funding in the initial stage..Our revenue model is location based advertising..but to get that running needs lot of money..but without userbase VC doesn't seem to be interested..So we are planning to launch our service before end of this year and get a reasonable user base in say 6 months and then look for the VC funding to get the ads running on our platform...is that the correct/good approach or if not please suggest your thoughts ..thanks