GUESS Report: Recently GUESSS Global Research Project and IIT Mandi have presented their survey report, in which shocking facts have been revealed. According to this report, 32.5% of Indian college students are already active in the field of entrepreneurship and pursuing their businesses. This figure is much higher than the global average of 25.7%, which shows the growing pace of entrepreneurship in India.
At the same time, 14% of Indian students express their desire to become entrepreneurs after graduation, which is close to the global average of 15.7%. Additionally, 31.4% of students intend to pursue entrepreneurship five years after graduating, slightly higher than the global average of 30%. Let us know in detail what this report says…
Presents students’ inclination
This report presents a clear picture of the entrepreneurship aspirations and career changes of Indian students. The study has been led by Dr. Puran Singh, Associate Professor, School of Management, IIT Mandi and Country Delegate of GUESSS India. The survey was co-authored by Dharmendra K, a doctoral candidate at IIT Mandi. Is Yadav.
Dr. Puran Singh of GUESSS India says that we are already the third largest startup ecosystem in the world. Tapping the entrepreneurship potential of the youth will be important for the development of the country. Through this report, we have received accurate data about the mindset of Indian students to become entrepreneurs, which will be important for future policies and decisions.
Career demands are changing
According to the report, 69.7% students look for employment after graduation. This figure reduces to 52.2% in five years. During this period, 31% of students aspired to become entrepreneurs, compared to 14% when they graduated.
Desire to become an entrepreneur
Indian students display the highest entrepreneurial intentions globally, with an average score of 4.6 on a scale of seven, much higher than the global average of 3.7. 38% of students are involved in forming companies, of which 33% are in the early stages, the highest among global peers. However, only 4.8% has reached revenue generation, which shows potential for growth.
Universities are also supporting
Currently 63% of student entrepreneurs receive support from the university and 26% of student companies are incubated. Indian universities are leading in creating a positive entrepreneurial environment, having been given a rating of 4.7 out of 7. This is the highest among the leading startup ecosystems globally.
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