Nearly one in every three Indian college students (32.5%) is already a nascent entrepreneur actively trying to start an own venture, compared with the global average of one in four (25.7%), according to the GUESSS India 2023 Report.
Likely propelled by various policy initiatives, this indicates a growing momentum for entrepreneurship within Indian universities, said the report.
“We have a validation of humongous resources deployed by the government in promoting entrepreneurship from the top leadership of our country. The strong entrepreneurial intent and the robust pipeline of nascent ventures signal immense potential,” said Puran Singh, an associate professor at the School of Management at IIT Mandi who co-authored the report.
Based on a survey conducted between November 2023 and February 2024 that received responses from 13,896 students of 1,298 universities, the GUESSS India 2023 Report was brought out by the India chapter of the Global University Entrepreneurial Spirit Students’ Survey (GUESSS). This research project involves a survey of student entrepreneurs across 57 countries.
The institutions included centrally funded (11.3%), state universities (24.8%), private universities (24.9%), affiliated universities (11.3%), deemed universities (2.9%), government colleges (5.3%) and private colleges (18%).
Most of the respondents were undergraduates (78%), primarily studying engineering disciplines (68%).
The report found that 14% of Indian students plan to become founders shortly after graduation. However, with 31.4% of students intending to pursue entrepreneurship five years after graduating, aspirations shift over time.
Although nearly seven in 10 students (69.7%) intend initially to start as employees, five years later slightly more than five in 10 (52.2%) want to do so, with a number of them moving towards entrepreneurship.
While the entrepreneurial spirit among Indian students may be stronger compared to their global peers, less than one in 20 (4.8%) of them currently manage revenue-generating businesses, compared with the global average of more than one in 10 (11.1%).
Underscoring the burgeoning popularity of entrepreneurial education among Indian students, nearly one in every two students (49%) has participated in an entrepreneurship course.
Compared to their peers (China, England, Germany, Japan and the US), Indian students excel in several entrepreneurial spirit parameters.
India is ranked top in terms of nascent ventures, students’ immediate career preference for entrepreneurship, long-term career preference for entrepreneurship, and entrepreneurial intent of non-entrepreneur students.
Likely propelled by various policy initiatives, this indicates a growing momentum for entrepreneurship within Indian universities, said the report.
“We have a validation of humongous resources deployed by the government in promoting entrepreneurship from the top leadership of our country. The strong entrepreneurial intent and the robust pipeline of nascent ventures signal immense potential,” said Puran Singh, an associate professor at the School of Management at IIT Mandi who co-authored the report.
Based on a survey conducted between November 2023 and February 2024 that received responses from 13,896 students of 1,298 universities, the GUESSS India 2023 Report was brought out by the India chapter of the Global University Entrepreneurial Spirit Students’ Survey (GUESSS). This research project involves a survey of student entrepreneurs across 57 countries.
The institutions included centrally funded (11.3%), state universities (24.8%), private universities (24.9%), affiliated universities (11.3%), deemed universities (2.9%), government colleges (5.3%) and private colleges (18%).
Most of the respondents were undergraduates (78%), primarily studying engineering disciplines (68%).
The report found that 14% of Indian students plan to become founders shortly after graduation. However, with 31.4% of students intending to pursue entrepreneurship five years after graduating, aspirations shift over time.
Although nearly seven in 10 students (69.7%) intend initially to start as employees, five years later slightly more than five in 10 (52.2%) want to do so, with a number of them moving towards entrepreneurship.
While the entrepreneurial spirit among Indian students may be stronger compared to their global peers, less than one in 20 (4.8%) of them currently manage revenue-generating businesses, compared with the global average of more than one in 10 (11.1%).
Underscoring the burgeoning popularity of entrepreneurial education among Indian students, nearly one in every two students (49%) has participated in an entrepreneurship course.
Compared to their peers (China, England, Germany, Japan and the US), Indian students excel in several entrepreneurial spirit parameters.
India is ranked top in terms of nascent ventures, students’ immediate career preference for entrepreneurship, long-term career preference for entrepreneurship, and entrepreneurial intent of non-entrepreneur students.
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