IIT is the dream for people want to pursue engineering. The place is known for creating the best engineering in the nation, making it one of the most looking universities. Although it is known for making engineering students, there are many IIT graduates, who have chosen a different path, that they were supposed to go. They turned into entrepreneurs and launched their startups in the market. Though they are not specialized in the field, they are doing quite well, in the field of business. So, let us see the complete insights on the topic- 10 Successful Startups Led By IIT-Graduates.
Here are the startups founded by IIT graduates -
The Indian company which is going to be a global brand in the future, OLA has been founded by Bhavish Aggarwal, a Computer Science and, Engineering graduate from IIT in 2008. Started in Microsoft, Research India, he soon founded OLA cabs with Ankit Bhati in Bengaluru in 2011.
Now, OLA has a turnover of 320 million dollars and is valued 6.2 billion dollars in worth. It has over 6000 employees working and currently is available in 169 cities in India. It has expanded in countries like Australia and New Zealand in 2018 and the UK, it started its Auto Rickshaw service in 2019.
Founded by Sachin Bansal and Binny Bansal in 2007, it is one of the most popular e- retailers in India. Both Sachin and Binny are graduates from IIT Delhi. Flipkart, which initially started as book sales, expanding into other product categories such as electronics, fashion and lifestyle products.
According, to 2018, it has a revenue of $199 billion. It also acquired a deal with Walmart, with controlling 77% stake in Flipkart for US $16 billion, valuing it at $20 million. It shares a 39.5% market share of the India e-commerce industry.
The CEO of the company Pranay Chulet grew up Rajasthan and graduated in chemical Engineering from IIT Delhi. After getting a Masters from IIT Kolkata, he worked for Mitchell Madison Group and gained his start to open his online classified posting app .
It is started by Kalpit Agarwal, an IIT Bombay student. It is mainly about startup exam preparations like JEE, GATE, etc strategies. It provides the student with books, questions, reading the material and mocks tests to provide students full guidance with their exam preparations.
An Mathematics and Computing Graduate from IIT Delhi, Deepinder Goyal is the founder of Zomato. It has over 5000 employees working for it now and is one of the most popular services for food delivery in India. As of 2016, it is now available in 24 countries. It provides information, reviews, menus of restaurants.
For a county, which is based on agriculture produce, the urban areas lack such produce . To solve this problem, IIT Kharagpur graduates Kaustubh Khare and Saahil Parikh started Khetify to promote food sustainability to city dwellers.
According to them, 16,000 km sq of rooftop space is being wasted in Urban cities, Khetify aims to promote the use of this unutilized space to develop rooftop farms. In 7 months of working, they have already taken over 7,000 sq ft of vacant roofs and balconies in Delhi NCR into small farms that have produced over 2, 200 kg of vegetables of 55 different varieties.
Founded by Naveen Tewari, an IIT Kanpur graduate. Itis now competing with giants like Google and Facebook for data-driven mobile advertising. It is one of the top 5 players in the US, China, Southeast Asia, and India. Also, Softbank has invested $200 million in them.
It is founded by Rahul Yadav, an IIT Mumbai alumnus. He was also featured in FORBES '30 under 30' young Entrepreneurs. He is known as the bad boy of Indian startup, gaining comparisons from the famous Steve Jobs. And fun fact, he was once fired from a company.
Founded by Sanjay, an alum of IIT Delhi, he previously worked in the US in the field of e-commerce market places, online payments, and operation. After, serving as a key to establishing eBay in India, he started his own company Shopclues, along with Sandeep and Radhika Aggarwal.
FYI Snapdeal wasn't an e-commerce company till 2008, but then it was founded by Rohil Bahl and Kunal Bahl, the former has a Wharton degree while the latter has an IIT Delhi, graduation degree under their belt.
It is now one of the most popular e-commerce websites in India, with over 3,00,000 sellers, over 3 Crore products across 800+ diverse categories from more than 1,25,000 regional, national and international brands and retailers and a reach of 6,000 towns and cities among the country.