BUSINESSASUSUAL In­dian engg stu­dents pick fat pay over start­ing firms

Sunday Express - - FRONT PAGE - RICHASHARMA @ New Delhi

IN­DIAN sci­ence and tech­nol­ogy (S&T) stu­dents study­ing in elite engi­neer­ing in­sti­tu­tions such as the In­dian In­sti­tutes of Tech­nol­ogy (IIT) and Na­tional In­sti­tutes of Tech­nol­ogy (NITs) pre­fer fat pay­checks at multi­na­tion­als to turn­ing en­trepreneurs and own­ing their own com­pa­nies.

A study by the Depart­ment of Sci­ence and Tech­nol­ogy has found that only 12 per cent of stu­dents have a high in­ten­tion to­wards start­ing their own busi­nesses. This is in sharp con­trast to the trend abroad.

In the US, about 46 per cent of tech- nical grad­u­ates turn en­trepreneurs, while 43 per cent of Nor­we­gian and 38 per cent of Sin­ga­pore grad­u­ates start their own com­pa­nies.

The study, Proac­tive En­tre­pre­neur­ial Char­ac­ter­is­tics of Sci­ence and Tech­nol­ogy Stu­dents: An Em­pir­i­cal Study in In­dian Con­text au­thored by Ra­jib Roy and Ni­ladri Das of the In­dian School of Mines, Dhan­bad, was pub­lished in the jour­nal Cur­rent Sci­ence dated Novem­ber 10.

The au­thors were tasked to study the pat­tern among tech­ni­cal grad­u­ates in In­dia by the Depart­ment of Sci­ence and Tech­nol­ogy.

The study found “low in­ter­est to pur­sue an en­tre­pre­neur­ial ca­reer” among In­dian sci­ence grad­u­ates. Not­ing that “en­tre­pre­neur­ial in­ter­est among stu­dents at IITs and NITs ranks way below their west­ern coun­ter­parts”, the study ad­vo­cated the need for “en­trepreneur­ship cour­ses es­pe­cially de­signed to tar­get S&T stu­dents”.

“The course con­tents need to at­tempt in ac­cel­er­at­ing the risk-tak­ing propen­sity among stu­dents. En­trepreneur­ship is all about tak­ing cal­cu­lated risks. Hence, stu­dents can be trained with the up­side prospects of ven­tur­ing, by us­ing na­tive busi­ness­men as role mod­els and also through in-depth re­view of their suc­cess sto­ries,” the study rec­om­mended.

Ex­plain­ing the rea­son­ing be­hind IIT stu­dents go­ing for multi­na­tional com­paines rather than go­ing into en­trepreneur­ship, the study by the the Depart­ment of Sci­ence and Tech­nol­ogy found that IIT stu­dents do not have the risk-tak­ing propen­sity.

How­ever, the study agreed that that the Cen­tral gov­ern­ment’s re­cent pol­icy mea­sures like Atal In­no­va­tion Mission is ex­clu­sively de­vised to make a sig­nif­i­cant change in the di­rec­tion of techno­preneur­ship.

It sug­gested for pol­icy mak­ers to em­pha­sise on is­sues like so­cioe­co­nomic fac­tors (ed­u­ca­tion, gov­er­nance and in­sti­tu­tional ca­pac­ity and in­fra­struc­ture), which con­trib­ute to en­tre­pre­neur­ial aware­ness formation, at­ten­u­ate per­ceived risk of fail­ure and elim­i­nate red-tape bu­reau­cracy and op­por­tu­nity cost of en­trepreneur­ship.

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