Entrepreneurs who have graduated from Indian Institutes of Technology have achieved worldwide recognition by building the fourth-largest number of Unicorns (privately held companies) that are valued at more than $1 billion. A reputed software firm, Sage, United Kingdom, has done the analysis.
Currently, India is in the third place in terms of startups and IITians have played a significant role in building 12 Unicorns and stood at the fourth place across the globe in terms of the number of Unicorns. Stanford University is in the first place with 51 Unicorns followed by Harvard University with 37 and the University of California with 18. IITs overtook the Massachusetts Institute of Technology (MIT) in the list. The alumni of MIT have set up 9 Unicorns so far.
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Binny Bansal and Sachin Bansal, Co-Founders of Flipkart, India’s largest e-commerce firm graduated from Indian Institute of Technology, Delhi. On the other hand, Co-Founder of Snapdeal, Rohit Bansal is from Indian Institute of Technology, Kanpur. InMobi and Adtech firms were also founded by the graduates of IIT Kanpur. All these startups turned out to be profitable ventures last year.
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Similarly, Ankit Bhati and Bhavish Agarwal are the Co-Founders of India’s largest taxi aggregator, Ola were the graduates from Indian Institute of Technology, Madras.
Indian Institutes of Technology are the premier technical institutes in the country after Indian Institute of Science. Most of the top most companies prefer to hire graduates from these institutes. These institutes also motivate students in starting their own ventures.