Some of India’s known entrepreneurs who dropped out of their schools or colleges are FreeCharge founder Kunal Shah, Quick Heal’s Kailash Katkar, Housing.com co-founder Rahul Yadav, Directi Group’s Bhavin Turakhia and Divyank Turakhia etc.
While only a handful of students passionate about their ‘disruptive’ business ideas like OYO’s Ritesh Agarwal courageously drop out of schools and colleges and turn entrepreneurs but a majority of startup entrepreneurs in India have ensured that they are at least graduate. According to a survey of 1,246 startups by the Reserve Bank of India (RBI) between November 2018 and April 2019 and published last week, close to 88 per cent of the founders had at least a bachelor’s degree. Some of India’s known entrepreneurs who dropped out of their studies are FreeCharge founder Kunal Shah, Quick Heal’s Kailash Katkar, Housing.com co-founder Rahul Yadav, Directi Group’s Bhavin Turakhia and Divyank Turakhia etc.
Out of the surveyed startups, 33.3 per cent of entrepreneurs had an engineering background followed by 16.7 per cent in commerce/finance, 12.9 per cent in Science, 10.2 per cent in IT etc. In terms of professional background, 52.1 per cent were professionals while 29 per cent were business owners earlier as well. Among other findings from the survey was the source of capital for 42.9 per cent Indian startups was family and friends followed by 11.3 per cent coming from angel investors, 9.7 per cent from incubators, and only 7 per cent raised from PE/VC.
Moreover, with respect to the female entrepreneurs’ contribution to the ecosystem, 55.5 per cent of the surveyed startups had only male founders while only 5.9 per cent of the startups were founded by females. According to Mastercard Index of Women Entrepreneurs 2018, only 11 per cent of the total business owners were women in India.
Indian startups are also expected to hit domestic bourses, said the RBI survey as close to 58 per cent of startups surveyed said they are looking to go public on domestic exchanges in the coming five years. Some of the Indian startups since the 90s, which have grown into matured and domestically listed technology companies included Infoedge, JustDial, InfiBeam, Bharat Matrimony, IndiaMART etc. MakeMyTrip and Yatra are listed on Nasdaq.