Is entrepreneurship an attractive career option?

India is a young and vibrant economy with nearly 350 million people in the age group 15-34 years.Thanks to an evolving startup ecosystem and changing social perceptions on entrepreneurism, a lot of youngsters today are setting up their own ventures.

With the rise in the number of job offerings and good salary offerings, making a choice between entrepreneurship and service is still tough. The rise in number of startups also means more job offerings and better career choices.

Is it a good time to take the entrepreneurship plunge?

With an evolving startup ecosystem and government initiatives in the form of Startup India policies the going has never been better for budding entrepreneurs. Before taking the plunge however one needs to be sure whether ‘entrepreneurism’ is what drives the passion deep inside. Many people make wrong career choices without adequate introspection. Even with all the support and supporting environment, the going for setting up an own venture is bound to be full of ups and downs.

The growing attraction for entrepreneurism

The career choices of students usually change as per the economy, the job market scenario and the general society perceptions. Entrepreneurship has been ranking high on all three counts in recent times. In fact startups today are a major recruiter during the internship of students in various business colleges and institutes. Families no longer look at entrepreneurism as a taboo unlike a few decades ago when service sector was preferred.

Role models galore for entrepreneurship

For students on the verge of graduation from various business schools there are many role models in society today supporting their urge to set up their own company. The success stories of Sachin and Binny Bansal of Flipkart, Alok Kejriwal the co-founder of Games2Win.com, Deep Kalra founder and CEO of online travel portal MakeMyTrip are some of the prominent names for youngsters to look up to and possibly emulate their success.

The one thing that is the common denominator with most of the young but successful entrepreneurs is their focus on quality education. Armed with quality degrees youngsters today are more confidents of walking the entrepreneurship route as they always have a back up ready should they fail to materialize their goals.

Student startup policies helping budding entrepreneurs

Various state governments in their quest to promote ‘Made in India’ and ‘Startup India’ initiatives are helping budding entrepreneurs to take the plunge. For example the government of Gujarat has initiated country's first purely student startup policy offering grants worth Rs 200 crore to students to come up with innovations and help budding student entrepreneurs to set up their own companies going forward. Karnataka startup policy under New Age Incubation Network offers mentoring and financial support up to Rs 3 lakh for every project giving budding entrepreneurs opportunity to go to various international startup destinations for funding and successful project execution.

All such student startup policies along with incubation support and financial backing help students get their business prototypes ready by the time they graduate from a business school. The offering of ‘startup India’ policy and the emergence of India as a startup hub with a vast untapped market makes the choice between entrepreneurship versus a blue collared job a one way proposition for many.

Entrepreneurship is an attractive career option for the passionate individual with favorable policies and a quality startup ecosystem. The plunge however should be made after due deliberation to ensure there is self motivation and belief in the project.

ENDS

 

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