The Times of India reported that MBA students are getting back their appetite for risk-taking (5 July 2013). The fact that as many as 20% of Indian MBA students want to start their own venture or work within a start-up is a sign, according to the journalists Samidha Sharma and Hemali Chhapia, of a maturing entrepreneurial environment.
Unlike their peers in developed countries, Indian students seem to be more entrepreneurial, they report. In comparison, Universum’s findings reveal that it’s only 10% of US business students and 12% of German business students that choose the entrepreneurial path. According to the reporters, the majority of students in Europe and US choose job security instead and an “assured paycheck”.
There are many reasons that could explain this trend. The reporters quote IIM-Trichy’s director Prafulla Agnihotri who explains that parents of graduating students are willing to support their children in their personal ventures. Furthermore, Agnihotri explains that traditional working classes, unlike before, are also now exploring opportunities to start businesses. It’s partly due to the fact that the “job market is not as promising” as it once was, they report.
Other factors that may be stimulating this entrepreneurial culture are the vibrant funding environment, the focus on business plan competitions and mentorship programmes on campuses. However, the reporters quote Krishna Tanuku, executive director of the entrepreneurship centre at Indian School of Business, who offers a word of caution. Krishna emphasizes that the government and other institutions like colleges still need to play their active part if Indian business students are to succeed.
Another interesting fact that the Times of India highlights is that Indian students now choose to work in India. Although almost half plan to go abroad to continue their studies, 76% of business undergraduates want to start working in India. For engineering/IT students and MBAs, the figures are 69% and 73% respectively.
The newspaper points out that Google was the preferred choice for Indian graduates, both for engineering and business undergraduates as well as for MBA students. To see the full list of India’s Ideal Employers 2013, click here.