Why Freshers Are Turning Entrepreneurs

According to a recent survey, 67% of students polled intend to start their own business within 10 years of graduation.

The success of Indian startup stories is fuelling hundreds of dreams as more freshers opt to start their own venture.

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 jump on to their entrepreneurial journey immediately after graduation.

And, around 23 per cent will opt for this route after two-three years of graduation. Nearly 29 per cent want to have their own venture within 5 to 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,' said the report.

'The desire for a stable job has been replaced by a desire to write one's own destiny,' the report added.

The HirePro report captured aspirations and inclinations of over 20,000 candidates, over 350 colleges, and 200 corporates, along with interviews with more than 100 campus talent recruiters.

The report also added that this desire to start a venture of their own is also being supported by campuses having entrepreneurial cells or courses.

The survey unveiled that over 36 per cent of institutions offer dedicated courses on entrepreneurship or provide startup semester options.

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, providing students with practical experience in the startup ecosystem.

Metro 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 entrepreneurship's importance in higher education but also reveals a hesitancy to fully commit to nurturing startup culture.

The report reveals a complex entrepreneurship landscape in Indian higher education institutions.

While 87 per cent of colleges have implemented in-house programs 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 programs and mentorship.

This tension between promoting entrepreneurial skills and favouring traditional employment paths presents both challenges and opportunities for India's education sector.

Feature Presentation: Ashish Narsale/Rediff.com