Prakhar Bindal, a pass-out of Indian Institute of Management-Calcutta (IIM-C), recently launched Axsiom.com, which helps companies acquire premium domain names. It currently has a clientele of 250 firms.
Bindal is one among a number of business school graduates who are rejecting fatter paychecks to launch their own ventures – from express bike washes to alternative investment funds and agricultural advisory firms.
While the number of students taking the entrepreneurship route are still no match to their peers who prefer cushy corporate jobs, the trend is increasing.
At IIM-C, for example, about six students out of the batch of 400 have launched their own ventures this year, against two last placement year. “Considering the trend, we expect to see at least 25 students taking this route by the next three years,” said Ashok Banerjee, dean, IIM-C.
As many as 13 students from the 2014 batch at IIM-A have turned entrepreneurs. At Delhi-based Faculty of Management Studies (FMS), seven students chose to chase their entrepreneurial dreams against 4 last year. “The opportunities in sectors such as technology, pharma and e-commerce are primary reasons behind the trend,” an FMS spokesperson said.
Other colleges, too, echoed similar trend. “Nearly 20 ventures were established during 2010 to 2014,” a spokesperson at IMT Ghaziabad said.
Many institutions are helping students secure funds. “We provide mentorship, links for developing pitch books and assistance in arranging seed-funding,” Banerjee said.
Some colleges also offer deferred placement opportunities, under which a student can opt out of placements for entrepreneurial endeavours for a period of two years, and then return to sit for on-campus job interviews.