College Grads Starting-up!

In April 2011, as part of a special series on the rise of student start-ups, Mint published a two-page report highlighting some amazing facts:

• 45% of start-ups in India came from non-metropolitan cities
• More than 54% of the co-founders were first-generation entrepreneurs
• Only 4% belong to families with annual incomes of over INR 25 lakh, and
• More than 70% plan to continue their careers in entrepreneurship

photo © 2010 Michael Lewkowitz | more info (via: Wylio)

In January 2011, NEN (National Entrepreneurship Network) conducted “NEN First Dot” in Chennai. This event was an indication of the vast majority of college students starting up in their graduating years compared to earlier generations who were more likely to choose conventional careers.

The number of “Weekend Startup” events across colleges in India and abroad is another indication of the growing interest in entrepreneurship by young college students.

There is a lot of advantage when one starts off early. Students have enough time to experiment, test and try and hence, learn a lot in the bargain. Also, being a student entrepreneur, one starts off with no experience. The thought process, though a bit unstructured is pure, creative and versatile; something that ceases to exist if one has worked in a structured work environment.

A student entrepreneur also has the energy, enthusiasm and vitality to take on new challenges with fewer risk factors. Due to this, young entrepreneurs in their early twenties are more likely to have a steep learning curve.

There may a flip side to this as well. Being young may also mean lack of experience and knowledge accompanied with overconfidence. The tendency to overlook critical aspects of a business may make them highly vulnerable.

However, I believe, starting off early gives you that head start to learn, experiment, to fall and get up and finally succeed.

“Entrepreneurship is living a few years of your life like most people won’t so you can spend the rest of your life like most people can’t” – A student in Warren G. Tracy’s class