By P Mohan Chandran
The Indian Institutes of Technology (IITs), a name that has become synonymous with excellence, innovation, and the epitome of technical education in India. But what is it about these institutions that has elevated them to the status of tech royalty? How has an IIT degree become a passport to success, marked with the promise of fat paychecks and a life adorned with accolades?
Let us embark on an analytical journey, probing into the hallowed corridors of IITs, unraveling the stories behind their emergence as the breeding ground for the country's brightest minds.
IIT Bombay – The Pioneer of Innovation
Founded: 1958
Global Rank among Universities: 34th (in Engineering and Technology)
NIRF 2023 Rank among Indian Universities: 4 (4th in the overall category. It is ranked 3rd in engineering, 10th in management, 4th in research and 7th in the newly-added category 'Innovation'.)
Start-up Founder Alums: 1,289 (including 18 Unicorns; these companies have raised over USD 27.23 billion in funding from 2,775 investors).
IIT Bombay has become a symbol of innovation and entrepreneurship. With a global rank of 34th in Engineering and Technology and 4th among Indian Universities, it is not merely a university but a crucible where ideas take shape. The alumni list of IIT Bombay reads like a who's who of the tech world, with more than 1,289 start-up founders igniting the spark of creativity.
The institute has a strong track record of producing entrepreneurs and innovators. Here are some of the most well-known start-ups founded by IIT Bombay alumni:
Ola Cabs: A ride-hailing company that is one of the most valuable start-ups in India.
Paytm: A digital payments company that is one of the most popular payment methods in India.
InMobi: A mobile advertising company that is one of the largest mobile advertising platforms in the world.
Curefit: A health and fitness start-up that offers a variety of online and offline services.
Byju's: An online education company that is one of the largest online education companies in the world.
Dream11: An online fantasy sports platform that is one of the most popular fantasy sports platforms in India.
OYO Rooms: A budget hotel chain that is one of the largest budget hotel chains in India.
IIT Delhi – The Gateway to Success
Founded: 1961
Global Rank among Universities: 43rd (in Engineering and Technology)
NIRF 2023 Rank among Indian Universities: 2 (It is ranked 1st in engineering, 3rd in management, 2nd in pharmacy, 5th in law, 4th in science, and 8th in the newly-added category 'Innovation'.)
Start-up Founder Alums: 1,334 (including 23 Unicorns; these companies have raised over USD36.51 billion in funding from 2,781 investors).
IIT Delhi stands tall as a gateway to success. Ranked 43rd globally and 2nd among Indian Universities, it has been instrumental in shaping the careers of its students, ensuring that they don't just succeed, but excel. The legacy of IIT Delhi resonates in the world of start-ups, with its alumni spearheading more than 1,334 successful ventures.
The institute has produced a large number of successful entrepreneurs, scientists, engineers, and business leaders. It is a major contributor to India's economic and social development. Here are some of the notable alumni of IIT Delhi:
Arvind Kejriwal: The 14th and current Chief Minister of Delhi.
Ajay Piramal: The chairman of the Piramal Group, a multinational pharmaceutical and healthcare company.
Deepak Parekh: The chairman of HDFC Bank, one of the largest private sector banks in India.
Falguni Nayar: The founder and CEO of Nykaa, an online retailer of beauty and personal care products.
Kiran Mazumdar-Shaw: The chairman and managing director of Biocon, a biopharmaceutical company.
N Chandrasekaran: The chairman of Tata Sons, the holding company of the Tata Group.
Rakesh Jhunjhunwala: A billionaire investor and the chairman of Rakesh Jhunjhunwala Asset Management.
S. Ramadorai: The former chairman of Tata Consultancy Services, one of the largest IT companies in the world.
Vijay Shekhar Sharma: The founder and CEO of Paytm, a digital payments company.
Vineet Nayar: The former CEO of HCL Technologies, a multinational information technology company.
The institute has a strong track record of producing entrepreneurs and innovators. Here are some of the most well-known start-ups founded by IIT Delhi alumni:
Flipkart: An e-commerce company that was acquired by Walmart for USD 16 billion.
Zomato: An online food ordering and delivery platform that is one of the largest food delivery platforms in India.
Meesho: A social commerce platform that allows users to sell products to their social network.
Pine Labs: A digital payments company that provides point-of-sale solutions to merchants.
Delhivery: A logistics company that provides last-mile delivery services to e-commerce companies.
Cars24: An online marketplace for used cars.
Unacademy: An online educational platform that provides video lectures on a variety of subjects.
Innov8: A venture capital firm that invests in early-stage start-ups.
Tracxn: A technology intelligence company that provides data and analytics on start-ups and investors.
YourStory: A media company that covers the start-up ecosystem in India.
IIT Madras – The Powerhouse of Excellence
Founded: 1959
Global Rank among Universities: 50th (in Engineering and Technology)
NIRF 2023 Rank among Indian Universities: 1 (It is ranked 1st in engineering, 4th in management, 3rd in pharmacy, 7th in law, 5th in science, and 9th in the newly-added category 'Innovation.')
Start-up Founder Alums: 489 (including 11 Unicorns; these companies have raised over USD15.12 billion in funding from 1,867 investors).
The tale of IIT Madras is one of relentless pursuit of excellence. With a global rank of 50th and 1st among Indian Universities, it is a powerhouse that has produced more than 489 start-up founders. The institution's curriculum, culture, and ethos have fostered an environment where innovation thrives.
The institute has a strong track record of producing entrepreneurs and innovators. Here are some of the most well-known start-ups founded by IIT Madras alumni:
Zoho: A software company that develops business productivity software.
Freshworks: A customer relationship management (CRM) software company.
Infibeam Avenues: An e-commerce company that owns and operates Snapdeal, an online marketplace.
Mindtree: A global IT services company.
Fractal Analytics: A data analytics and decision science company.
Happiest Minds: An IT services company.
Mu Sigma: A data analytics and decision science company.
FirstCry: An online baby care and parenting products retailer.
Yatra: An online travel agency.
In terms of the number of start-up founders, IIT Madras is the most prolific among the IITs. It is followed by IIT Delhi, IIT Bombay, and IIT Kharagpur. This is likely due to a number of factors, including the institute's strong academic reputation, its location in a major metropolitan area, and its vibrant entrepreneurial ecosystem.
IIT Kharagpur – The Cradle of Leaders
Founded: 1951
Global Rank among Universities: 86th (in Engineering and Technology)
NIRF 2023 Rank among Indian Universities: 5 (It is ranked 3rd in engineering, 7th in management, 6th in pharmacy, 10th in law, 8th in science, and 10th in the newly-added category 'Innovation'.)
Start-up Founder Alums: 972 (including 11 Unicorns; these companies have raised over USD14.21 billion from 2,067 investors)
IIT Kharagpur, the oldest IIT, has not just educated engineers but molded leaders. Ranked 86th globally and 5th among Indian Universities, it has given birth to more than 972 start-ups. It is the cradle where dreams are nurtured, and the horizon of success is expanded.
The institute has a strong track record of producing entrepreneurs and innovators. Here are some of the most well-known start-ups founded by IIT Kharagpur alumni:
Udaan: A B2B e-commerce platform that connects traders, wholesalers, retailers, and manufacturers on a single platform.
Policybazaar: An online insurance comparison platform that offers insurance quotes for life, health, auto, and more.
Inshorts: A news app that provides users with short summaries of news articles.
Capillary Technologies: A retail analytics platform that helps retailers improve their inventory management, pricing, and marketing strategies.
Ofbusiness: A B2B marketplace for agricultural products.
Lucira Health: A diagnostics company that provides at-home testing for COVID-19 and other diseases.
Cashfree: A payment gateway that allows businesses to accept online payments.
KisanHub: A platform that connects farmers with buyers and provides them with access to agricultural inputs and services.
Eggoz: An online marketplace for eggs.
The Analysis: Why IIT Degrees?
The commonality among these institutes is not just their ranking but the culture of innovation, the dedication towards excellence, and the unwavering commitment to fostering leaders. An IIT degree is not just a certificate; it is a testament to a student's ability to think, innovate, and lead. It's a stamp of approval from the best minds in the country.
The high salaries, the positions of power, the fame and respect – they are not mere coincidences. They are the result of an ecosystem that encourages risk-taking, rewards innovation, and celebrates intelligence.
The Path of Royalty or a Journey of Self-Discovery?
As we stand at the crossroads, a pertinent question arises – Is an IIT degree a fast-track to tech royalty, or is it a journey of self-discovery, learning, and growth?
Are the fat paychecks a mere symbol of success, or do they represent the hard work, the sleepless nights, the relentless pursuit of excellence that these institutions instill in their students?
The answer lies not in the degree but in the individual's pursuit of knowledge, in the thirst for innovation, and in the courage to dream big. The IITs provide the platform; the students build their castles.
Are you ready to embrace the challenge? Are you prepared to join the ranks of tech royalty? The gates of IITs are open, but the path is yours to walk. It's not just about the destination; it's about the journey, a journey that can redefine your life. Are you prepared to embark on it?
Do you think an IIT degree is a fast-track to tech royalty, or is it a journey of self-discovery, learning, and growth?
A. IIT degree is a fast-track to tech success & fat paycheck
B. IIT degree is a journey of self-discovery & growth
© 2023. P Mohan Chandran. All Rights Reserved.
16082023
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