Startups stay away from IITs this year
This year, the Indian Institutes of Technology (IITs) saw an over 40% drop in the number of startups signing up for final placements.business Updated: Nov 09, 2016 11:34 IST
New Delhi Startups seem to have lost the flavour among IIT-ians.
This year, the Indian Institutes of Technology (IITs) saw an over 40% drop in the number of startups signing up for final placements.
At IIT Guwahati, 15 startups have registered so far, against 40 last year. The list includes names like Headout, Rivigo and Shop101. IIT Madras has seen 54 startups getting registered, compared to 98 last year. The difference is particularly noticeable in case of IIT Kharagpur -- only 10 have signed up for this year’s placement process so far, a big drop from 70 last year.
IIT Madras’s training and placement adviser, Professor Manu Santhanam, said the ban on 30 startups earlier in the year for reneging on job offers could be the reason for the lack of interest. “Some startups could have also matured and don’t fall in the startup category anymore,” he said.
“There is a market decline (in value) of startups and cautious policy adopted by the AIPC (The All-IIT Placement Committee) to secure candidates’ future,” said professor Debasis Deb, chairman of career development centre at IIT Kharagpur.
E-commerce giants Amazon and Snapdeal, however, will hire extensively from these institutes. In fact, Amazon India is likely to increase the number of offers. “We will continue to hire aggressively as we grow our business in India. We are looking to expand our hiring from IITs and are looking for exceptional engineering talent, which meets our hiring bar,” said Raj Raghavan, director, Asia human resources (HR) leader at Amazon.
Amazon India has already registered at 15 IITs, including Bombay, Hyderabad, Kharagpur, Delhi, Kanpur, Madras, Mandi, Jodhpur, Indore, BHU, Dhanbad, Guwahati, Patna, Ropar and Roorkee. They hire around 100 graduates each year from IITs, which contributes to around 20% of the overall tech campus hiring in the country.
Snapdeal is in the process of registering for IIT placements. “We will continue to hire for niche and specific roles from IITs, according to our planned needs this year. We will hire in similar numbers at IITs, compared to last year, which would be in the range of 25 to 30 graduates, said Saurabh Nigam, vice-president, HR, Snapdeal.
Flipkart, too, has started registering for placement, IIT officials said. The company, however, did not confirm the move.
The fact that students are now looking for stable job opportunities could also be driving the trend of less interest for startups, AIPC convener Professor Kaustubha Mohanty said. “Startups are more careful in their approach this year”.