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The report also noted that this desire to start a venture is being supported by campuses through entrepreneurial cells or courses | Photo: Shutterstock
The success of the Indian startup story is fuelling hundreds of dreams, as more freshers opt to start their own ventures. According to a recent survey, 67 per cent of students polled intend to start their own business within 10 years of graduation.
The study, conducted by HirePro, an AI-powered recruitment automation firm, found that 15 per cent of students want to embark on the entrepreneurial journey immediately after graduation, while 23 per cent plan to do so within two to three years. Additionally, 29 per cent aspire to start their own venture within 5-10 years of graduation.
“The success of numerous Indian startups, which have become household names in a short span of a decade, has inspired a billion dreams. The desire for a stable job has been replaced by a desire to write their own destiny,” said the report.
The HirePro report captured the aspirations and inclinations of over 20,000 candidates from more than 350 colleges and 200 corporates, including interviews with over 100 campus talent recruiters.
The report also noted that this desire to start a venture is being supported by campuses through entrepreneurial cells or courses.
The survey revealed that over 36 per cent of institutions offer dedicated courses on entrepreneurship or provide startup semester options, demonstrating a growing emphasis on formal entrepreneurial education.
Additionally, 29 per cent of colleges have established centres for innovation, entrepreneurship development cells, or startup incubation facilities, creating ecosystems to nurture budding entrepreneurs.
To foster an entrepreneurial spirit and provide practical experience, 28 per cent of colleges organise entrepreneurship competitions, pitch events, and hackathons, giving students practical experience in the startup ecosystem.
Metro areas and Tier I cities show higher engagement with entrepreneurship programmes at 62 per cent and 44 per cent, respectively. Tier II cities lag behind at 27 per cent.
The study highlights a growing recognition of the importance of entrepreneurship in higher education but also reveals a hesitancy to fully commit to nurturing startup culture.
The report uncovers a complex entrepreneurship landscape in Indian higher education institutions. While 87 per cent of colleges have implemented in-house programmes to promote entrepreneurship through various initiatives, 63 per cent still prefer their students to focus on securing corporate jobs upon graduation rather than starting their own ventures.
Only 7 per cent of colleges focus on entrepreneurship awareness programmes and mentorship. This tension between promoting entrepreneurial skills and favouring traditional employment paths presents both challenges and opportunities for India’s education sector.
First Published: Sep 03 2024 | 3:00 PM IST
