Major startups like Flipkart, Snapdeal, Paytm, Ola Cabs have not yet signed up for the placement season this year. It seems like these startups do not appear to be in favour of IIT recruits this placement season. Indian Institutes of Technology have witnessed a 50% fall in the number of startups that will be present in the campus recruitment drive.
However, it is a happy placement season for IITs ,even though the response for startups has been tepid. This year, the number of pre-placement offers increased by 25-30 percent as compared to last year.
IITs have collectively banned startups from participating in the placement season. These include Portea Medical, baby clothing website Hopscotch, Grofers and others. These startups have been banned for one year on account of “playing with the career of students” by revoking offer letters, last-minute changes to the offers and falsely hiring them for affiliates and delaying joining dates.
All IIT Placement Committee estimated that around 135 students from IITs across the country were affected by these companies’ actions. On the other hand, the council has been screening startups before they are allowed to visit the tech campuses. Last year, a total number of 98 colleges were present for the placement season. Indian Institute of Technology, Bombay has already listed the companies that are going to attend the recruitment season.
One of the placement officers of Indian Institute of Technology, Roorkee revealed that the placement team has been screening the stability of the companies before finalising them for placement. So far, only 35 startups have been registered.