Birla Institute of Technology and Science (BITS) Pilani has stated that students and faculty members will be able to take up to a year off to start their own start-ups.
“If (a) student wishes to take a year off to pursue entrepreneurship full-time, his application will be routed through the dean for approval,” according to a circular distributed to students.
BITS also stated that students working on novel prototypes and business concepts may obtain course credit. The college would also allow students to register their businesses using the institute’s address.
Apart from students, BITS announced that faculty members will be able to take a year off to focus on their start-ups.
“Faculty members may take either a sabbatical, an extraordinary leave, or an earned leave for a maximum of one year as per the existing norms of the Faculty Affairs Division (FAD) and may be authorised to work full time for the start-up,” the college stated.
By allowing its own students to drop out for a year, BITS Pilani looks to be institutionalising the practice. This might be a win-win situation for students: if their start-up succeeds, they may end up developing a great organisation; if it fails, they will still be able to rejoin their course and be much richer for the experience.
Indian start-ups are already making a mark on the global stage. The country is now home to the third-highest number of unicorns in the world, and initiatives like this which provide support and mentorship for early-stage businesses are helping to create an environment where entrepreneurship can flourish.
And with more and more young people taking advantage of these opportunities, it’s likely that we’ll see even more Indian start-ups making waves in the years to come.
