BANGALORE: Fly or fail -
those were the only consequences for Indian Institute of Technology
(IIT) Bombay students who took the entrepreneurial plunge after
graduating. There was no safety net to fall back on if their start-up
ideas failed.
Such failures are not uncommon and, in these cases, IIT graduates were left to fend for themselves. That was a huge deterrent to entrepreneurs being birthed in the campus. But now, select graduates are being given the option of taking a shot at a start-up idea, with the assurance they can come back for campus placements two years later if the idea fails.
This is a first-of-its kind initiative in any IIT. The Mumbai-based engineering institute is also creating a panel of faculty members and industry experts who will select the students, go through their ideas and help them get seed funding as well.
Such failures are not uncommon and, in these cases, IIT graduates were left to fend for themselves. That was a huge deterrent to entrepreneurs being birthed in the campus. But now, select graduates are being given the option of taking a shot at a start-up idea, with the assurance they can come back for campus placements two years later if the idea fails.
This is a first-of-its kind initiative in any IIT. The Mumbai-based engineering institute is also creating a panel of faculty members and industry experts who will select the students, go through their ideas and help them get seed funding as well.
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