What's the secret sauce behind IITians becoming successful entrepreneurs?

Is it a coincidence that a plethora of successful entrepreneurs have their academic roots in IITs? Or, does having attended an IIT institution have a role to play in an entrepreneur’s success, especially in the technology sector? As per a study by research firm PitchBook, IIT alumni were among the leading founders of startups in the US.

IIT: The Hub of Successful Entrepreneurs 

IIT graduates are leading the pack in India's brisk technology startup scene. Five of the seven Indian companies that have recently entered the unicorn club—startups valued over $1 billion (Rs6,400 crore)—were founded by entrepreneurs who were trained at an IIT. 

Here are some of the large Indian startups that were founded by IIT alumni:

In an interview, the co-founder of Hyderabad-based startup AppVirality admitted “Unfortunately it is true that an IIT tag helps you pass through a lot of hurdles, especially during the initial phases of your startup.” He apprised that investors and incubators bet on people and not necessarily on ideas so being an IIT alumnus gives entrepreneurs a certain validation and credibility that serves them lifelong. 

'CEO Factory' of India leading the world

IITians are not only shining in the start-ups but they have also reached the summit of top organizations across the globe. CEOs of many business giants hail from the IITs. Recently, new Twitter chief Parag Agrawal has joined the long list of talented IIT graduates who have become high-tech giants in Silicon Valley, including Alphabet's Sundar Pichai, Adobe's Shantanu Narayen, Micron Technology's Nikesh Arora, and Sun Microsystems' Vinod Khosla. 

By global standards, IIT, which has grown to 23 campuses across India, has returned to the academic rankings according to the rankings widely used by QS World University. In 2021, IIT Bombay performed best among all Indian educational institutions and was ranked 177 of the 200 major universities in the world QS rankings. 

Network Matters

The network of IIT graduates dates back to 1951 when the first IIT was founded in Kharagpur. Young entrepreneurs have extensive access to global, technically experienced mentors and individuals. While a degree from any of the elite engineering schools, like Birla Institute of Technology & Science (BITS), National Institute of Technology, or Delhi Technological University, carry an edge - IIT alumni nevertheless are favorites.

The brand value of IIT is very high. Currently, there are 23 IITs spread across the country and thousands of successful professionals are born from them, so the network is very strong.

IITians have a High Risk Appetite

IITians as compared to graduates of other colleges have a high risk appetite. This can be attributed to the confidence they get after getting associated with the premier tech institution. IIT graduates with globally acclaimed degrees are usually confident in finding high-paying jobs early in their careers. This gives IIT alumni the freedom to take essential risks to entrepreneurship. IIT graduates have far more employment security than graduates from other universities. 

Another important factor in building the trust of IIT graduates who want to become entrepreneurs is the solid track record of successful graduates in the field. An example of a successful IIT entrepreneur dates back to the 1980s. For example, Vinod Khosla, co-founder of Sun Microsystems and a graduate of IIT Delhi. People like Sachin Bansal and Deepinder Goyal have recently strengthened this belief.

Rigorous Curriculum 

Most IITs across India have a rigorous curriculum with classes beginning from 8:30 a.m. to 8:30 p.m. with a lunch break from 12:30 p.m. to 2:00 p.m. Over and above all there are extra classes taken by professors which make the daily lives of students even more hectic. 

Thus, we can conclude that a strong network base, rigorous curriculum, thought-provoking lectures, and the zeal to innovate are important factors that lead to the success of IIT alumni.

 

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