Encouraging Entrepreneurship! BITS Pilani Allows Students To Take A Year Off To Build Their Startups
|BITS shared a policy document with its students, which stated, "In case (a) student intends to take a year off to pursue entrepreneurship on a full-time basis, his application would be routed through the dean for approval."
In an encouraging move to stimulate entrepreneurship in India, the deemed university in Rajasthan, Birla Institute of Technology and Science (BITS), Pilani, has allowed its students and faculty members to take up to a year off to embark on their own ventures.
BITS shared a policy document with its students, which stated, "In case (a) student intends to take a year off to pursue entrepreneurship on a full-time basis, his application would be routed through the dean for approval…," as per a report by Times Now.
Furthermore, the policy document allows students pursuing entrepreneurial ventures to make use of their address in the university to register their company with due permission. The facility is available to those students whose firms have been financed and incubated by the official tech-business incubator at BITS Pilani, Pilani Innovation & Entrepreneurship Development Society (PIEDS).
How Are People Reacting To BITS New Move?
Prafful Billore, the founder of MBA Chaiwala, lauded the university's move and took to Twitter, "A true instance of positive change! Birla Institute of Technology and Science (BITS), Pilani said it would allow students and faculty members to take up to a year off to start their own ventures."
A true instance of positive change!
— Prafull MBA CHAI WALA (@Prafull_mbachai) November 2, 2022
Birla Institute of Technology and Science (BITS), Pilani said it would allow students and faculty members to take up to a year off to start their own ventures. pic.twitter.com/8O74aJtXSd
Udit Goenka, the founder and Chief Executive Officer (CEO) at PitchGround & Firstsales.io wrote on Twitter, "BITS Pilani now allows students to take a year off to build their startup. What a move 🤯".
BITS Pilani now allows students to take a year off to build their startup.
— Udit Goenka (@iuditg) November 2, 2022
What a move 🤯
Where Do BITS Stand Comparing To IITs?
In India, the Indian Institutes of Technology (IIT) dominates the startup and unicorn ecosystems; however, with the recent move, BITS is also taking on the IITs.
As per reports, at least one founder of more than 73 of the country's over 100 unicorns came from one of 23 IITs. Furthermore, as per Tracxn Technologies data, BITS alums have founded more than 900 startups, with over 13 making it to the list of Indian unicorns.