Should I include failed startup in resume and how

Hi grapeviners,

I had around 3 YOE pre MBA and during MBA I tried building a robotics startup which sort of failed because of multiple issues like funding and market response hence by end of MBA had to wind it up with few prototypes.

Is it good idea to mention this in resume and if so there's no way I can prove this as experience now since I had not yet registered company as such.... So will it be a problem during BGV ??

Would be grateful for your inputs