Estimations say that while around 1600 IITians take up a career in entrepreneurship each year; the number comes down to around 200 for candidates from IIMs. This is because India looks up for more entrepreneurs from IIT background compared to that of IIM. One of the main reasons behind this can be because of the number of seats which are allotted to students seeking admission to IITs and IIMs. While there are 9600+ seats allotted to 16 Indian Institute of Technology(s); more than two lakh entrants strive hard to make their way for only 3500 seats in 13 Indian Institute of Management(s). From the allotted number of seats; it can be primarily estimated that the number of graduates and post graduates coming out from IITs are much more in number than those of IIMs which is why more number of IITians take up entrepreneurship than that of IIMs.
Why IITians rock the business world?
One question which sometime hit minds is why fellows from engineering background take charge of business better than those coming with a management degree from IIMs. This is because it is believed that management students are meant for managing business and not for creating products while an engineer is responsible for creating innovations and uplifting the same to the world; of course understanding the needs of the people.
While IITians know the technique of taking up risks; IIM graduates lack the potential of taking risk as they are taught only to analyze and calculate risks. Being prone to high risk bearing potential; IITians make much better as entrepreneurs than students from IIM.
Knows the art of technology:
Technology has taken a prominent role over the past 25 years and is also taking new shapes in the recent days. This technology is considered as a driver of innovation that has made life easier. IITians because of engineering background take up better role in the tech business for they know the art of designing products fitting the needs of the customers which is lacking in students from IIM and other fields.
Investors prefer IIT tag
The tag of coming from an IIT background fetches more investors from IITians which help them to gain the financial support required for setting up a business of their own. Their tag helps them to fix meetings with investors at least for a round giving them a chance to pursue these investors to make investment in their projects.
Ability to remain competitive
Being only educated about the art of analyzing and foreseeing risks and competitiveness of the business firm; management students lack the ability to implement strategies for remaining competitive in the world market which is what is considered as the priority and potential of IITians.
Selects only bright brains
Compared to most other management institutions; IITs only take up students with a sound science background which is why they are considered better in keeping away risk or managing them efficiently upon encountering one such. Also they are well trained as IITs don’t face dearth of mentors.
Strong network of Alumni
Being so many start-up companies functioning today headed and owned solely by candidates with IIT background; IITians willing to take up entrepreneurship enjoy support from strong network of Alumni.
So if you have an IIT tag; then the business world is all yours while public looks forward your new venture to cater their needs.