The last few years have seen young Indians take to the entrepreneurial route and move away from conventional careers. While the shift can be attributed to an increasing number of management graduates, another factor is the saturation point that the engineering and medicine fields have attained.
The National Entrepreneurship Network (NEN) is an organization that works with many institutions and mentors potential entrepreneurs. As reported by Livemint, the entrepreneurial ecosystem is growing in India. Students are likely to intern or have their first jobs in startups. Most of them prefer to start a venture of their background. It is no surprise that most are IT, e-commerce and consultancy startups.
Yet, many of these entrepreneurs are those coming back from abroad. They are students who had migrated in pursuit of higher education.
According to a startup study conducted by Vivek Wadhwa, Director of Research at Duke University, one reason highlighted was that strict immigration laws are forcing Indians to abandon the States and pursue their startups in India.
Traditional skepticism relating to initial capital and risks of failure are making way for a new business environment. Even after the recession of 2008, startups in India are slowly finding their way back. With more exposure to sources of finance, such as venture capitalists, and improved access to research material, motivates more startups now.