Indian Institutes of Technology (IITs) are ranked fourth on a list of 50 best entrepreneurial undergraduate institutes in the world, by PitchBook Data, a US-based private equity and venture capital research firm. It is indeed a proud moment for IITs as the IITs have been ranked higher than some of the best Ivy League universities such as Harvard.
In the study, the research firm found that the IITs had a total of 264 entrepreneurs, who have founded 205 companies and cumulatively raised USD 3.15 billion. In order to further boost entrepreneurial mindset among the youths, and help the students acquire skills and entrepreneurial qualities, the union HRD ministry has planned to revamp the pedagogy and curriculum to make it more relevant to the society and make the students market-ready not just domestically but also internationally, Further, the HRD ministry emphasized the need to inculcate an entrepreneurial mindset not only in schools and colleges through changes in curricula but through introduction of teaching training and teaching material designed especially for entrepreneurship.
Since, innovation has become increasingly open and collaborative today as opposed to the existing close in-house innovation models, the HRD ministry is planning to set up a ‘council for higher education and industry’ which can bring about solution that our nation has so long sought”.