India’s economic downturn has apparently put a damper on the entrepreneurial fire of India’s MBAs. According to India’s Business Standard, there’s been a marked drop in the percentage of newly minted MBAs from India’s top programs willing to take the new-venture leap. For example,
• At IIM Bangalore, 8 new MBAs started companies this year versus 16 last year.
• At IIM Calcutta, there was 1 entrepreneur this year versus 5 last year.
• At Xavier Institute of Management, Bhubaneswar (XIM-B), there were no entrepreneurs this year versus 2 last year.
These numbers are in spite of the fact that the IIMs at Ahmedabad, Bangalore and Calcutta as well as other business schools like XIM-B, Xavier Labour Relations Institute, and Indian School of Business offer fresh graduates the opportunity to defer their participation in the schools’ placement process for two to three years if any venture they start falls through.
Schools predict Indian MBAs’ entrepreneurial fervor will bounce back once the recession ends.
Source: “Entrepreneurship bug lies low at B-school campuses,” Business Standard, by Kalpana Pathak and M Saraswathy, March 26, 2012.
This article was originally published on Paul Bodine’s blog. Paul is a graduate admissions consultant with over 13 years of experience, having helped hundreds of applicants get into their dream business, law, medical, and graduate schools. He has also published several books on graduate admissions.