IIT-Bombay students get first 'start-up' fair

MUMBAI: Around 88% of IIT-Bombay alumni who quit their jobs to start their own ventures are now happy with their move, a new survey has revealed. Almost 40% of the alumni surveyed from the past three batches -around 40%-moved from a job to a different field within three years, including some who quit without even com pleting a year. Apart from moving to a new job and setting up their own entrepreneurial ventures, some have been pursuing higher studies, research and social work as career options.

With the intent to highlight IITians' post-placement dilemma and the flaws in the placement process, the students' media body surveyed around 220 respondents from the 2011, 2012 and 2013 batches and published their findings in the latest edition of Insight released on Wednesday.

Considering the broad trend of students choosing to launch their own ventures, IITB's placement and entrepreneurship cells will hold a first-ever start-up fair on Sunday. It will allow students to intern at startups of their choice and if both parties so wish, also join them as co-founders.

Around 11 start-ups have registered for the fair on Sunday , said Mohak Mehta, placement manager at the cell.

Students will get to interact with start-ups in the morning and know more about their profiles, and then be part of walk-in interviews in the afternoon. The fair will be open for students from second and third years--the ones who are studying at the institute--and final-year students who are yet to get placed.

In the survey , a little over 50% of the alumni who changed jobs they had secured on campus thought there were issues with the placement process. Around 50% even said they switched jobs as they did not like the profile or had a conflict with the companies' values. The rest said they wanted to explore different fields or to raise money for their future career paths.

“We need to understand the requirement of a process where more informed choices are made... The placement process must ensure this does not stem from lack of information or a thorough understanding of the job,“ said the article. Indicating the flaw in the process, the survey further revealed that around 35% of the respondents who switched over felt that those jobs are a “perfect fit“ for them during campus placements. Of the 2012 batch passouts alone, 55% said they intend to change their jobs and 35% are still unsure.

The study , though, also claimed the institute is doing well enough to nurture the entrepreneurship culture as 54% of the ones who started their venture decided to pursue their passion--the dream to become their own bosses one day--was born within IIT-Bombay .