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The Indian Institute of Technology at Powai (IIT-Bombay) has hit upon an idea that could boost the spirit of entrepreneurship among its students. Its placement cell is weighing the option of helping students whose start-ups have not fired to be placed in jobs after two years of experimenting with their ideas.
As part of the scheme, students keen on their own startups will be assigned mentors after graduating. These experts either people who have successfully floated their own companies or those with enough exposure to new businesses will evaluate their ideas to see if theres any potential. Once the ideas are approved, students can float their own companies. After two years, if a start-up fails to take off, the student entrepreneur can participate in the regular placement process and get a job. Ravi Sinha, professor in charge of placements, said the idea, which is at a nascent stage, can give students the assurance to float their ideas without hesitation. Very few start-up ideas on the campus turn out to be successful ventures. Often, many good ideas are not commercially viable. So, students are apprehensive about floating their ideas, added Sinha. The office of Society for Innovation and Entrepreneurship (SINE), which promotes entrepreneurship on the campus by promoting business incubation, and the Entrepreneurship cell (Ecell) is working with the placement cell to check the feasibility of the project. We have been working on the initiative for a couple of months. If it works out, student-entrepreneurs will be reasonably assured of getting a job through the institute's placement office, said Sinha.
Courtesy: Times of India
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