BOOM

Trending Searches

    SUPPORT
    BOOM

    Trending News

      • Fact Check 
        • Fast Check
        • Politics
        • Business
        • Entertainment
        • Social
        • Sports
        • World
      • Law
      • Explainers
      • News 
        • All News
      • Decode 
        • Impact
        • Scamcheck
        • Life
        • Voices
      • Media Buddhi 
        • Digital Buddhi
        • Senior Citizens
        • Videos
      • Web Stories
      • BOOM Research
      • BOOM Labs
      • Deepfake Tracker
      • Videos 
        • Facts Neeti
      • Home-icon
        Home
      • About Us-icon
        About Us
      • Authors-icon
        Authors
      • Team-icon
        Team
      • Careers-icon
        Careers
      • Internship-icon
        Internship
      • Contact Us-icon
        Contact Us
      • Methodology-icon
        Methodology
      • Correction Policy-icon
        Correction Policy
      • Non-Partnership Policy-icon
        Non-Partnership Policy
      • Cookie Policy-icon
        Cookie Policy
      • Grievance Redressal-icon
        Grievance Redressal
      • Republishing Guidelines-icon
        Republishing Guidelines
      • Fact Check-icon
        Fact Check
        Fast Check
        Politics
        Business
        Entertainment
        Social
        Sports
        World
      • Law-icon
        Law
      • Explainers-icon
        Explainers
      • News-icon
        News
        All News
      • Decode-icon
        Decode
        Impact
        Scamcheck
        Life
        Voices
      • Media Buddhi-icon
        Media Buddhi
        Digital Buddhi
        Senior Citizens
        Videos
      • Web Stories-icon
        Web Stories
      • BOOM Research-icon
        BOOM Research
      • BOOM Labs-icon
        BOOM Labs
      • Deepfake Tracker-icon
        Deepfake Tracker
      • Videos-icon
        Videos
        Facts Neeti
      Trending Tags
      TRENDING
      • #Operation Sindoor
      • #Pahalgam Terror Attack
      • #Narendra Modi
      • #Rahul Gandhi
      • #Waqf Amendment Bill
      • #Arvind Kejriwal
      • #Deepfake
      • #Artificial Intelligence
      • Home
      • Business
      • Engineers To Entrepreneurs: IIT...
      Business

      Engineers To Entrepreneurs: IIT Students Take The Plunge

      By - Nikhila Makker |
      Published -  31 March 2015 12:40 PM IST
    • Boomlive

      IIT Bombay's Deferred Placement Policy (DPP) has started from the 2014-15 batch. It allows 12 graduating students to pursue their own startups. And they are loving it!

      Anurag Meena, a 22-year-old physics engineering student, has the rare distinction of having cleared the entrance exam for Indian Institute of Technology (IIT) as well as the All Indian Pre-Medical Test (AIPMT). He picked physics but his interest in medical sciences did not waver. He is combining his love for technology and medicine and is developing non-invasive methods of drug delivery.

      “These healthcare products were a part of a project that I started during my third year. I did not want to leave it just as a thesis in documents. I wanted to convert it into a product. At this point, I feel I don’t have much to lose and I can give it a complete shot,” he said.

      Meena is one of the 12 students from the IIT Bombay batch of 2014-15 who opted out of placements to pursue their own business ideas.

      Meena and the others have turned down placement packages ranging in crores. This year, a Rs. 2-crore package by Facebook was the highest-offered placement. Other MNCs like Google, Oracle, Microsoft and Samsung Korea offered packages of Rs. 1+ crore and over 1,000 students from IIT Bombay secured jobs in the first phase of on-campus placements itself.

      These budding entrepreneurs have a fallback option in IIT Bombay's new programme called the Deferred Placement Policy (DPP). DPP allows the students to return to campus for interviews in the next two years if their business idea doesn't work out.

      Keshav Kumar, another engineer from the mechanical stream, has developed an e-commerce website for industrial, development and research equipment. “For four years, we have been working on projects for college related to robotics or mechanics. I realized that there was a huge gap in the market for equipment and often we had to drop our project ideas due to lack of products. This led to the idea of Omnikart.com. We are standardizing the entire process and making a network for all vendors,” he explained.

      Abhijit Patil worked for a year at TVS motors for a year before he realized that a 9 to 5 job was not his cup of tea. He wanted to make better use of his knowledge of technology and started Dimension NXG, a 3D printing and scanning company with two other friends. “3D technology has been in use for more than a decade now. But, in India, it is a relatively new technology. Our first aim was to spread awareness about it through seminars and workshops,” he said.

      “We are now working on two products – MiniME and ProSurgi. Through 3D scanning and printing, we create miniatures of people. Our target is special events like weddings, anniversaries, birthdays and other occasions that people would like to capture. PriSurgi is another patent where we will take X-rays from doctors and convert them into 3D models. This will allow doctors to visualize the human organs before they open the patients’ bodies to operate on them,” he added.

      Apart from a back-up option, DPP is also helping these students by providing constant feedback about their entrepreneurial ventures.

      Under the DPP, interested students are required to submit business proposals about their startup which are then scrutinized by a panel comprising of professors, entrepreneurs and angel investors. On the basis of innovation and prospective revenue generation, only 12 students are short-listed.

      The panel will also mentor these students and help them validate the progress of the startup. After two years, if the panel thinks that a particular venture will not work out due to various reasons like changing market dynamics among others, the students can apply again for the placement process.

      Tags

      3D3D PrinitingbusinessDeferred Placement PolicyDPPE-commerceE-commerce websiteEngineersEntreprenuersHealthcare productsIIT BombayIndian Institute of TechnologyInvestmentMiniMEOmnikart.comPlacementsPriSurgiStart-upStartuptechnology
      Read Full Article
      Next Story
      Our website is made possible by displaying online advertisements to our visitors.
      Please consider supporting us by disabling your ad blocker. Please reload after ad blocker is disabled.
      X

      Subscribe to BOOM Newsletters

      👉 No spam, no paywall — but verified insights.

      Please enter a Email Address
      Subscribe for free!

      Stay Ahead of Misinformation!

      Please enter a Email Address
      Subscribe Now🛡️ 100% Privacy Protected | No Spam, Just Facts
      By subscribing, you agree with the Terms & conditions and Privacy Policy connected to the offer

      Thank you for subscribing!

      You’re now part of the BOOM community.

      Or, Subscribe to receive latest news via email
      Subscribed Successfully...
      Copy HTMLHTML is copied!
      There's no data to copy!