22 May 2012 13:33:12 IST
, Indian Express
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IIT-B introduces deferred placement policy
Engineering Entrance
,
JEE Main
Students of the Indian Institute of Technology (IIT), Bombay, keen on taking up entrepreneurial challenges over a secure campus placement process, now have a backup with the institute introducing a ‘deferred placement policy’ this year. The policy will be applicable for the current batch, which will graduate in 2013.
Such a scheme enables students to defer their placements to start their own venture and if the enterprise does not succeed in a stipulated period, they can join the campus placement process.
“Though students are often interested in starting their own venture, they are usually afraid to take the plunge due to the risks involved and end up opting for campus placements. This policy will henceforth ensure that they have a secure net to fall back upon if things go wrong. Hence, a student can come back after a period of two years to be part of the placement process,” said Ravi Sinha, professor-in-charge, placement, IIT Bombay.
According to the regulations drawn up by the institute, interested students will have to submit an application with an initial proposal, which will be scrutinised by an panel to gauge whether the student is serious about starting a venture. Subsequently, a detailed proposal on the proposed venture will have to be submitted after two months.
The detailed proposal will again be assessed by the committee of experts. They will evaluate aspects like whether the venture is likely to succeed and its commercial viability among others.
“Students will have to submit their application by May-end and the detailed proposal by end of July. After scrutiny, the panel will select the proposals, which should be part of the deferred placement process,” said Sinha.
He said unlike other institutes, the deferred placement policy will be different as a mentor panel with experts, including entrepreneurs and angel investors, will be set up to guide the selected students, for two years on their start-up.
“The panel will help students make their venture a success by monitoring and reviewing their progress regularly. However, 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, they will inform IIT Bombay that the student should be brought back into the placement process,” he said.
There are very few institutes in the country, which currently has a deferred placement programme for students. The scheme exists at S P Jain Institute of Management & Research-Mumbai, Jamnalal Bajaj Institute of Management Studies-Mumbai, XLRI-Jamshedpur, IIM-Calcutta, Symbiosis Institute of Business Management-Pune and Vinod Gupta School of Management-IIT Kharagpur.
“For such a policy to exist, the institute must have a strong campus placement process, which is very supportive. The policy should also be able to nurture a venture. Unless these two things fall in place, it’s difficult to have a deferred placement policy. Hence, not many institutes in India have such a scheme,” said an academician.
Vriti Edustore
