College startups…flip or flop? what is the time for a startup?

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This is always a point of discussion rather debate that whether a

“college graduate should start a enterprise??”

Various arguments are provided for this but current trends shows some reality.

Currently NEN organized TATA first dot in chennai after the grand success obtained in year 2011. Along with the private sector government is also taking care of young entrepreneurs with its various programs like NSIC,MSME,venture centre etc.

3 years ago we hardly used to see any course on entrepreneurship but today almost every B-School is providing full or part time courses on entrepreneurship.

Today we have seen an increase in the techfests organized by various colleges, if we see the events of the fests there is one thing which is common “B-Plan Competition” these fests also works as an inspiration sources for the student community.

Increased use of technology like mobile and internet are also a big cause for the rise of student startups.We may easily get information and idea about the business and its difficulties. Analysis shows that the share of online startups is much higher than non e-startups.

In the special issue of Mint on rise of student startups published in april,11 there are various amazing points

  • 45% of start-ups in India came from non-metropolitan cities
  • More than 54% of the co-founders were first-generation entrepreneurs
  • More than 70% plan to continue their careers in entrepreneurship
  • Only 4% belong to families with annual incomes of over INR 25 lakh

 


What do these facts say???

there are various benefits if one starts earlier…
When a student start early he has no so called responsibilities hence he has more freedom and time to experiment,learn,test and try. His thinking is pure and not biased with any influence of industry.He is able to tackle the risk and ready to face the challenges .

But some facts which are on the other side of the coin say that
if a student starts early he has no experience and knowledge so he may get overconfident. He is likely to ignore the small but critical aspects of business which may make his journey a bit harder.

But In a broader sense the student startups are rising …data are in favor of these student startups.

What is your view regarding this please comment……

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Mohit Bansal(23) is B.Tech in Electronics and Communication Engineering from Indian School of Mines, Dhanbad, India. He has interest in business and entrepreneurship and has published couple of research articles. He is also associated with various NGOs. He is with Techaloo when it was just in concept stage. The Techaloo site was not existing even then. Currently Mohit is working with Mu Sigma as a Business Analyst Profile.

5 Comments

  1. Ankita says:

    Sometimes fate plays a big role.Yes, but at the same time “luck favours the brave”.An entrepreneur should give his best try with patience and belief in one’s self.Also its true for the plant to give beautiful fruits the baby plant should be groomed properly.In the same way young entrepreneurs can beautifully succeed if in the young age they realise their innovations and risking the investment.

  2. I agree that young bloods are more energeic and they practically we have nothing to lose. Even if they fail, It just give a bit of Struggle and we can start-up all over again..But the basic requirement is a Great Plan and experience(or Knowledge) to lead them forward. Although, we used to a good plan and beautiful innovative Ideas(which are totally new or sometimes inspired from our own life or other things). But it starts with hugh risk and literally nobody look interested if you need them full-time and ask to come forth financially .
    The Problem what I have faced, all of my friends or partners wanted a safe path, which wasn’t possible and slowly slowly they steped back and all are working for some MNC with good salaries.
    And still we are baking our Ideas in Dreams

    • admin says:

      Dear Abhishek,
      Yes its true and it happens many times that few friends and acquaintances start a venture with great enthusiasm and zeal. But with time their priority changes. And they look for more safer bet in their life and become risk averse. Entrepreneurship is marathon often we don’t plan our venture this way. Its only for dare devil spirit.

      In a year more than 700,000 companies started in USA and out of them 3% only get funding rest 96-97% start up has to fund by bootstrapping (funds from friends, family and fool). Among 3% of the funded company only 10% i.e 2000+ company only able to scale 10 times rest all fails. In India percentage of funding as well as success is lower than the US figures. No body talk about the 500,000 companies which goes insolvent and other start ups which were not able to scale or make profit.
      Most of us talk about Google, Facebook, Twitter, linkedin, Groupon, etc which become billion dollar company in 2-5 yrs. But with proper planning and education about entrepreneurship failure rate can be reduced.

      Admin

  3. kirtiraj singh says:

    i think first of all, students should take experience from market . so that they can know practical aspects of business & use their practical knowledge in developing their own business.bcoz business is different what students learn in college.thank you9584663839

    • admin says:

      Dear Kirtiraj,

      Its all depend on person to person. However research at Kaufman Foundation shows that more entrepreneurs are of young age as lower the age lesser to lose in life. At 30 or 40 more experience and more savings and more networks but tendency to take risk is highly reduced due to many reasons such as family commitment, financial commitments, etc.

      Detail about the survey is available : http://www.kauffman.org/uploadedfiles/kfs_08.pdf

      best regards,
      Dilip

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