Indian students show highest entrepreneurial intent globally: IIT-Mandi’s report

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IIT Mandi's GUESSS India 2023 report When it comes to accessing assemblage support, 63 per cent of pupil entrepreneurs presently entree assemblage support. (Representative image/ Source: Freepik)

As galore arsenic 32.5 per cent of Indian assemblage students are already nascent entrepreneurs, actively engaged successful starting their businesses. This fig is higher than the planetary mean of 25.7 per cent, reveals an IIT Mandi report.

As per the IIT Mandi survey, 14 per cent of Indian students program to go founders instantly connected graduation, intimately aligning with the planetary mean of 15.7 per cent. Notably, aspirations displacement implicit time, with 31.4 per cent of students intending to prosecute entrepreneurship 5 years aft graduating, compared to a planetary mean of 30 per cent. Also, portion 69.7 per cent of students initially purpose for employment aft graduation, this fig drops to 52.2 per cent implicit 5 years, with 31 per cent of students aspiring to go entrepreneurs during that play — up from 14 per cent astatine graduation.

This information has been released successful ‘GUESSS India 2023 Report’, a survey connected Indian Student Entrepreneurship, brought retired by the India Chapter of Global University Entrepreneurial Spirit Students’ Survey (GUESSS) — a planetary probe task that involves a broad survey connected pupil entrepreneurs worldwide (57 countries).

IIT Mandi study besides showed that 38 per cent of students are progressive successful task creation, with 33 per cent successful the nascent stage, the highest among planetary peers. However, lone 4.8 per cent person reached the revenue-generating stage, highlighting the imaginable for growth.

When it comes to accessing assemblage support, 63 per cent of pupil entrepreneurs presently entree assemblage support, with 26 per cent of pupil ventures being incubated. As per the report, Indian universities are starring successful creating a affirmative entrepreneurship climate, rated 4.7 retired of 7 – the highest among starring startup ecosystems globally.

The study was led by Dr Puran Singh, Associate Professor, School of Management, IIT Mandi and Country Delegate, GUESSS India, and co-authored by Dharmender K Yadav, National Team Member and Doctoral Candidate, School of Management astatine IIT Mandi.

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