Sambalpur: Two students of the Indian Institute of Management here have opted out of the campus placement process and set-up their own start-ups instead.

The two are Raja Anjana and Shivi Sekher Singh from the second batch of the institute.

"Actually, it is the main motto of the IIMs to be an entrepreneurs and to provide jobs to others instead of working under somebody," said director of the IIM-Sambalpur Mahadeo Jaiswal.

Chief minister Naveen Patnaik, who attended the recently-concluded annual convocation of the institute as chief guest, advised the students to "take risk by building organisations, providing employability and becoming an inspiration to the world".

Anjana and Singh have lived up to the expectation of the chief minister, Jaiswal said. Jaiswal also said this year's placement record at the institute was "outstanding". Out of 45 students, 43 got lucrative job offers of their choice. The two others are Anjana and Singh, who stepped out of the placement process voluntarily. The highest package offered was Rs 60.70 lakh per annum and the average package was Rs 10.03 lakh per annum.

Anjana, a resident of Hyderabad, belongs to a businessman's family. She had worked as an assistant bank manager of Andhra Bank before joining the IIM. Her parents have extended their "event management" business in several important places of Andhra. It was essential to manage the total business by somebody. She studied management as she was interested in spreading their family business further and adding new wings to it."The knowledge and training that I got from the IIM will help me expand my family business in a big way," Anjana said.

Singh, a native of Uttar Pradesh, said he was always interested in starting a new venture of his own. But, finance was his main constraint. After getting a degree in engineering, he worked with an IT company for a year. Two of his friends have assured him funding, while he will also get a bank loan to start a hotel. All the three will be the directors of the hotel, he said.

"When I am interested in doing independent business, why should I seek a job?" he said.