These challenges faced by IIT-B startups is a true reflection of the problems startups across India are dealing with
Jun 14, 2017, 13:16 IST
According to a survey done by the entrepreneurship cell of IIT Bombay, it is one of the institutes in India which has seen the evolution of start-ups from campus.
The survey found that in terms of stage of products, start-ups at IIT-Bombay saw a jump from 33 per cent in 2015 to 39 per cent in 2017 among the prototypes, beta and full-fledged versions.
In terms of resources required by start-ups, the shift has been towards mentoring, marketing, acceleration and networking.
The study also cited how IIT-Bombay start-ups have moved away from services which formed 39 per cent in 2015 to technology which now forms 50 per cent of all start-ups from the premier institute this year.
Followed by technology, agriculture and product and graphic design start-ups form 15 per cent each of the total sectoral break-up.
One of the major challenges that IIT Bombay startups have faces is Funding, as is the case with startups across the country. The study reveals that as against 16 per cent start-ups bagging funding in 2015 which grew to 29 per cent in 2016, the same fell to 25 per cent in 2017.
Among other challenges being faced by start-ups at IIT-Bombay, technical problems have taken a lead in 2017 over the past two years, followed by lack of co-working space, the requirement of a good team and networking.
Interestingly, 11 out of 20 start-ups at IIT-Bombay won competitions of some form or the other, while three out of 11 reached finals of its own competition Eureka which goes on to speak volumes about the fact that students get the business model right at least in its nascent stage.
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The survey found that in terms of stage of products, start-ups at IIT-Bombay saw a jump from 33 per cent in 2015 to 39 per cent in 2017 among the prototypes, beta and full-fledged versions.
In terms of resources required by start-ups, the shift has been towards mentoring, marketing, acceleration and networking.
The study also cited how IIT-Bombay start-ups have moved away from services which formed 39 per cent in 2015 to technology which now forms 50 per cent of all start-ups from the premier institute this year.
Followed by technology, agriculture and product and graphic design start-ups form 15 per cent each of the total sectoral break-up.
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Among other challenges being faced by start-ups at IIT-Bombay, technical problems have taken a lead in 2017 over the past two years, followed by lack of co-working space, the requirement of a good team and networking.
Interestingly, 11 out of 20 start-ups at IIT-Bombay won competitions of some form or the other, while three out of 11 reached finals of its own competition Eureka which goes on to speak volumes about the fact that students get the business model right at least in its nascent stage.