Why NOT Many IITians Initiate a Startup?

Entrepreneurship in India has always been a dicey issue. Some individuals have the willpower and courage to initiate a startup, whereas others don’t. We have heard scores of stories of successful entrepreneurs in India, who have made a name and fortune for themselves. We are also confronted with statistics as to how much profits were earned in a fiscal year as well as prices of the company’s shares. Not all these entrepreneurs have had the privilege of studying in an IIT. However, they had guts.

Think of some of the top most brands in India, and you will see an IIT connection at the foundation level. Where would Flipkart, Ola Cabs, Snapdeal, Myntra, Yebhi, or Zomato be if it weren’t for young, passionate IITians?

When we consider the statistics, primary eCommerce portals have been started by one or a team of IITians. We can sing their praises; however, when we consider the number of IITians who pass out each year from these prestigious colleges, the number of startups initiated is extremely low. Therefore, the questions to be asked are clear, simple, and straightforward:

• What separates successful, gutsy entrepreneurs from the timid ones, who prefer doing a traditional nine-to-five job?

• Why are most IIT alumni lacking the vision and shying away from the responsibilities of an excellent entrepreneur?

Why Do Other IITians Lack the Vision and Don’t Do Startups?

The answer to the above to the question is stark and bare. Most IITians refrain from doing startups because they are TOPPERS. Being a topper is a great thing; however, it comes with a drawback: these top-ranking students have never failed an exam. They know nothing of failure; hence, they don’t have a cope-up mechanism.

Another reason for lack of leaders in the world of entrepreneurship and startups is that most IITians fear failure. And startups involve considerable risk and failure in the initial stages. Without taking risks and a plunge into startups, you will never take pride in owning an out-of-the-box business startup.

With a plethora of risks and difficulties associated with launching startup companies, other IITians opt for safer shores, such as big brands offering huge amounts of income. With a guarantee of steady income, these students give entrepreneurship the thumbs down.

If we look at case studies of IIT alumni in the recent years, we can take the example of Mr Sachin Bansal, one of the co-founders of Flipkart. Can you answer why his company has become a household brand across India? Why is he such a successful leader and entrepreneur while his batch mates aren’t? The answer is that he overcame the fear of failure. He never lost focus or sight of his aims. That’s what separates the grain from the chaff.

What are the excuses given by other IITians who don’t want to be entrepreneurs?

• Marriage

• Lack of financial backup

• Will take it up as a side business

• Give me a couple of years to gain experience

IITians, always remember that to become a leading entrepreneur, you need to be a self-starter and go-getter with a can-do attitude. Don’t let fear get the better of you. Guys and gals, aim for the sky and go for it!