Charticle: IIT-Bombay has seen evolution of start-ups, show survey

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A survey done by the entrepreneurship cell of the Indian Institute of Technology Bombay (IIT-B) has seen the evolution of start-ups emerging from the premier institute, be it in terms of stage of products, resources required or problems faced by the start-ups.  

The e-cell recently put up the results of the survey on the social media, highlighting some key findings of the same.

For instance, in terms of stage of products, the survey found that among the prototypes, beta and full-fledged versions, start-ups at IIT-Bombay saw a jump from 33 per cent in 2015 to 39 per cent in 2017.

In terms of resources required by start-ups, the shift has been towards mentoring, marketing, acceleration and networking.

Sectorally, IIT-Bombay start-ups have moved away from services which formed 39 per cent in 2015 to technology which now forms 50 per cent of all start-ups emerging from the premier institute in 2017.

Followed by technology, agriculture, as well as product and graphic design start-ups, form 15 per cent each of the total sectoral break-up.

Funding has, however, been a challenge, given that as against 16 per cent start-ups bagging funding in 2015 which grew to 29 per cent in 2016, the same fell to 25 per cent in 2017. 

As per the survey, in terms of problems faced by start-ups at IIT-Bombay, technical problems have taken a lead in 2017 over the past two years, followed by lack of co-working space, the requirement of a good team and networking.

The survey also showed that 11 out of 20 start-ups at IIT-Bombay won competitions of some form or the other, while three out of 11 reached finals of its own competition Eureka.

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