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2014-10-17

Startups set to recruit mostly freshers from IITs

The number of startups who have enrolled for the campus placement season this year has doubled or trebled at many IITs.

Flush with a record billion-dollars-plus raised during the first nine months of this year, many startups are enrolling themselves at IITs for campus placement set to kick off in December this year, according to a report published in Economic Times.

 

Already, the number of startups who have enrolled for the campus placement season this year has doubled or trebled at many IITs, according to campus sources.

 

"Over 14 startups have already registered, out of which 11 will hire exclusively from us," Vishranth Suresh, academic affairs secretary, IIT Madras told ET.

 

The presence of such a large number of cash-rich startups will cause a fierce talent war with well-known recruiters like Google, Oracle, Samsung, Schlumberger and Goldman Sachs for the best among the 9,000-plus students who will graduate from 16 IITs next year.

 

Two-to-four-year-old startups are offering Rs 12-15 lakh pay packages, on par with salaries offered by core companies and IT firms, a placement coordinator said.

 

"Startups are the ones providing problem-solving opportunities that can have an immediate impact to students early on in their career," said Sandeep Murthy, Partner, Lightbox Ventures.

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