IIT Mandi Survey Finds 43% of Indian College Students Aspire to Start Businesses, 22% Already Have Ventures
A growing number of Indian college students are considering entrepreneurship as a career path, with 43% expressing a desire to start a business and 22% reporting that they have already launched a venture, according to the GUESSS India 2025 National Survey Report led by the Indian Institute of Technology Mandi. The findings highlight the entrepreneurial ambitions of young Indians while pointing to areas where colleges and universities can provide stronger support for students seeking to establish successful businesses.
The report, titled "How Do We Make Student Entrepreneurs?", was released by IIT Mandi in partnership with REVA University, Bengaluru. It draws on responses from 25,783 students across more than 1,200 higher education institutions in 34 states and Union Territories. The survey findings place Indian students broadly in line with global averages for entrepreneurial ambition and business creation.
Indian Students Match Global Entrepreneurial Ambitions
According to the report, 43% of Indian students want to start a business, matching the global average. Meanwhile, 22% of students in India have already started a venture, compared with 23% globally.
The findings suggest that entrepreneurship is an important career consideration for a significant section of India's student population. Rather than viewing salaried employment as the only route after graduation, some students are exploring opportunities to develop products, provide services and build businesses of their own.
However, the survey also highlights the difference between wanting to become an entrepreneur and successfully establishing a business. Access to guidance, professional networks, customers and practical experience can influence whether an idea develops into an operating venture.
More Students Want to Start Businesses After Graduation
The report identifies a shift in students' immediate career preferences. The share of students who want to run their own business directly after completing their studies increased from 14% in the 2023 survey to 16.2% in 2025.
Over the same period, the proportion of students who wanted a government job immediately after graduation declined from 12.7% to 10.1%. The share seeking employment at a large company also fell, from 31.3% to 27.4%.
These figures indicate a change in stated career preferences among surveyed students. However, preferences alone do not guarantee that students will launch businesses or that their ventures will become financially sustainable.
The report indicates that entrepreneurial support needs to extend beyond encouraging students to consider startups. Students also need opportunities to test ideas, understand customer requirements, manage finances and develop the skills required to operate a business.
Student Businesses Show Signs of Commercial Activity
The survey found that 35.5% of Indian student businesses had achieved regular sales, compared with 33% globally. The findings suggest that some student-led ventures have moved beyond the idea stage and begun generating revenue.
The report also found that 31% of Indian student businesses with regular sales were founded in 2025, compared with 18% globally. This points to recent entrepreneurial activity among students whose ventures have reached the stage of regular sales.
The report further noted that 41% of founders of Indian student businesses with regular sales had closed an earlier venture and started another. The corresponding global figure was 33%. In addition, 42% of Indian student entrepreneurs operated two or more businesses, compared with 25% globally.
These findings highlight the role of experimentation in entrepreneurship. Starting a business can involve uncertainty, and not every venture succeeds. The experience gained from an earlier attempt can help founders reassess their plans, identify market needs and explore different business opportunities.
Entrepreneurial Networks Remain a Challenge
Despite the strong interest in entrepreneurship, the report identifies limited exposure to business founders as an important gap. Around half of the Indian students surveyed said they did not know an entrepreneur outside their parents. Globally, approximately one-third of students reported the same situation.
The report also found that students who had entrepreneurs among their relatives, friends, classmates or teachers were three times more likely to start a venture. This finding underlines the potential value of mentorship, personal connections and opportunities to learn directly from business owners.
Colleges and universities can help address this gap by inviting founders to interact with students, connecting aspiring entrepreneurs with alumni and providing access to experienced mentors. Such initiatives can help students understand the practical realities of running a business, including customer acquisition, pricing, operational costs and business registration.
Turning Business Ideas Into First Sales
The survey highlights the challenge of converting entrepreneurial plans into actual commercial activity. Among students who were still developing their ventures, only 10% had made their first sale, compared with 23% globally.
A business idea becomes more practical when it is tested with potential customers. Early sales can help founders assess demand, gather feedback and determine whether their products or services address a genuine need.
The report therefore points towards the importance of practical milestones, including developing prototypes, registering businesses and securing initial customers. Business-plan competitions and entrepreneurship courses can be useful, but students may also benefit from opportunities to test products and engage with real markets.
The findings also show a difference between women and men in translating entrepreneurial ambitions into action. Among students who wanted to start a business, 45% of women had begun one, compared with 53% of men. This suggests that institutions should examine whether aspiring women entrepreneurs face barriers in accessing networks, mentoring, resources or other forms of support.
Role of Colleges and Universities
The report calls on higher education institutions to measure entrepreneurial outcomes, rather than focusing only on students' interest in starting businesses. According to the findings, 51 out of every 100 students who expressed an intention to found a venture had already started one.
Universities can strengthen entrepreneurship programmes by involving student founders, faculty entrepreneurs and alumni business owners in campus activities. Access to incubators, practical training and mentoring can help students understand the process of building a venture.
Institutions can also track meaningful milestones, such as the number of businesses launched, prototypes developed, registrations completed and first sales achieved. These measures can provide a clearer picture of how effectively entrepreneurial ambitions are being translated into action.
The survey was led by Dr Puran Singh, Associate Professor at the School of Management at IIT Mandi and Country Delegate for GUESSS India. The report was prepared in partnership with REVA University as part of the Global University Entrepreneurial Spirit Students' Survey initiative.
What the Findings Mean for Student Entrepreneurs
The GUESSS India 2025 report presents a picture of strong entrepreneurial interest among Indian college students, with ambition and the proportion of students who have already launched businesses broadly comparable to global levels.
At the same time, gaps in founder networks, first sales and the conversion of ideas into operating ventures remain important challenges. Improving access to mentorship, practical business experience and customer networks could help more students move from planning to implementation.
For colleges, the findings underline the importance of building an environment where students can explore business ideas and learn from experienced entrepreneurs. For aspiring founders, the results reinforce the value of testing ideas, understanding market demand and developing practical skills alongside academic learning.
The central message of the survey is that encouraging entrepreneurship requires more than inspiring students to launch startups. It also requires helping them take the practical steps needed to establish businesses, reach customers and build sustainable ventures.
