BackStart-ups lead the hiring boom
Start-ups breed start-ups by creating serial entrepreneurs who are key drivers of new businesses
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Indian start-ups are fuelling the campus hiring boom again. Does this indicate an upturn in corporate fortunes?
E-commerce company Flipkart.com has topped the hiring charts at the Indian Institutes of Technology (IITs) this year, according to The Economic Times on Thursday. This is one sign that there is an increase in recognition and respectability for risk taking that did not exist in India previously. New hires will benefit from getting their feet wet in a start-up environment with growth opportunities that staid companies such as Infosys Ltd simply cannot match.
Smart, enthusiastic and connected, today’s IIT’s graduates appear to be increasingly willing to forfeit stability to reach new heights. Investors have infused millions of dollars in Indian start-ups like Flipkart and Zomato recently, recognizing the growth potential for online ventures in an increasingly connected country.
Start-ups breed start-ups by creating serial entrepreneurs who are key drivers of new businesses. Taking risks, absorbing failures and starting over become easier with cash on hand from past successes, contacts and experiences.
Silicon Valley is the golden goose that it is mainly because of its proximity to top educational institutions and networking of alumni at school, work and play. India’s IIT’s have produced many of the Indians who are directly responsible for the successes of many of the Valley’s ventures. It appears that IITians are now slowly doing it at home with founders of Flipkart and Zomato leading the way.
However, to attract placement offers with higher salaries, Indian educational institutions need to strengthen their programs. A recent study, the QS World University Rankings, showed that no Indian university made it into the top 200. Massachusetts Institute of Technology (MIT) tops the list and MIT has an increasing number of Indian faculty and students who make the top innovator list there.
At the same time, technology companies like Oracle Corp., Samsung Electronics Co., Google Inc., etc. and others are currently offering placement opportunities with higher salaries and a jump in packages by 3-10% over the past couple of years. This may be evidence that there is an upturn in corporate fortunes, however slight. The US stock market has been hitting all-time highs over the past few weeks. There is an air that things are turning around from the doom and gloom that had shadowed placements on Indian campuses in recent times.
Some feel that we are back to a 1999 party with the seemingly overinflated valuations for companies that are yet to see any real profits and see a new bubble forming. However, for here and now, there is reason to celebrate, however small.
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