What type of failed startup was it? Was it a VC backed startup that failed? If so then there is definitely a halo effect in that (in the startup world). But that will only work with the 1% of the world that cares and understands the startup world. Unfortunately the traditional world (where many failed startups founders might end up) doesn't view it the same way.
It also depends on how long you spent doing the startup and the opportunity cost of doing so. It's one thing if it takes a 6 month chunk out of your life and another thing if it takes a 5 year period. And prevented you from doing something else.
I spent about two years on it, but a lot of that was weening off my traditional job. The tech worked perfectly eventually, however me being a business person and learning to market was not so successful. Most definitely not VC backed. More MC backed.
It also depends on how long you spent doing the startup and the opportunity cost of doing so. It's one thing if it takes a 6 month chunk out of your life and another thing if it takes a 5 year period. And prevented you from doing something else.
Each circumstance is different of course.