Kolkata: IIM-Calcutta, the oldest among the Indian Institutes of Management, has introduced a groundbreaking initiative for MBA students aimed at fostering entrepreneurship. Starting from the current academic year, students interested in building a startup can opt out of campus placements, dedicate a full year to their venture, and return for placements the following year if the startup does not succeed or if they change their minds.
Announcement by Director
IIM Calcutta director Alok Kumar Rai made this announcement during the inauguration of the MBA 63rd batch on Friday. “Beginning this year, MBA students who wish to pursue entrepreneurial ventures may choose to forgo campus placements and dedicate one year to building their start-ups. If things do not work for them and they do not succeed or they change their mind and decide to seek employment opportunities, they may come back and will be eligible to participate in the institute’s placement process the following year, after they graduate. I want them to try and promote entrepreneurship,” said Rai. He further added, “Keeping in mind the need to promote entrepreneurship, we have launched this initiative. There was no organised method for it so far. The institute offers funding for startups through its innovation park.”
Details of the Initiative
MBA students typically appear for job interviews on campus in the second year of their two-year programme. “There are students who have brilliant start-up ideas but often cannot take the plunge due to financial reasons, as many of them have to repay loans,” said a teacher. “This opportunity will help such students work on their innovative ideas, with the assurance that they will have an option to fall back on.”
Appreciation from the Startup Community
The initiative has received widespread appreciation. Rijas Das, founder of the startup Calcutta Founder’s Club (CFC), said, “IIM C’s new policy is a massive win for the local ecosystem. It democratises entrepreneurship by removing the paralysing fear of career ruin, allowing youngsters to take a shot at their ideas.” Arnab Chatterjee, director of Nutechanalytical, commented, “The initiative is a meaningful approach to supporting young entrepreneurs. It will encourage and guide the young minds to relearn and grow.”
Batch Profile
The MBA 63rd batch comprises 480 students, with 67% boys and 33% girls. Reflecting a pan-Indian character, students hail from 22 states and two Union Territories. Their academic backgrounds are diverse: 54.7% from engineering, 11.5% from commerce, 10.3% from science, 10% from arts, and the rest from other streams. Among the total students, 59% have work experience.
(with inputs from Sarthak Ganguly)
