Rising Entrepreneurial Spirit Among Indian College Students Surpasses Global Averages

The GUESSS India 2023 survey reveals that 32.5% of Indian college students are nascent entrepreneurs, exceeding the global average of 25.7%. Furthermore, 14% plan to become founders after graduation. While initially, 69.7% aim for employment, this drops to 52.2% over five years, highlighting growing entrepreneurial ambitions.

In a striking revelation, 32.5% of college students in India are already budding entrepreneurs, outpacing the global average of 25.7%. This was disclosed by the GUESSS India 2023 report, a comprehensive survey conducted by IIT Mandi on student entrepreneurship worldwide.

Consequently, 14% of Indian students intend to establish their ventures straight out of college, closely mirroring the global threshold of 15.7%. Over time, this entrepreneurial zeal increases, with 31.4% planning to launch businesses five years post-graduation, surpassing the global average of 30%.

The findings underscore the growing entrepreneurial intent among Indian students, the highest globally, with an average score of 4.6 out of 7. As India stands as the third-largest startup ecosystem, nurturing these youthful aspirations is paramount for economic growth. The study involved nearly 14,000 students from various institutions, noting that 63% of student entrepreneurs benefit from university support.

(With inputs from agencies.)