The Indian Institute of Technology campus in Kharagpur. A Telegraph picture

The Indian Institute of Technology, Kharagpur, has launched an initiative — deferred placement programme (DPP) — to provide a safety net to students willing to take up the challenges of entrepreneurship.

Under this scheme, students interested in starting entrepreneurial ventures will be allowed to push back their participation in campus placements for a maximum period of two years.

“We want to encourage students to take up entrepreneurial ventures. But at the same time, we are also offering them a safety net in case the venture does not take off,” said B.K. Mathur, professor-in-charge (training and placement), IIT Kharagpur.

Though the IITs attract the brightest brains, brilliant business ideas become scarce as students embrace the safety of lucrative jobs with top-notch companies.

“Starting a venture is a risky proposition as there is no guarantee that it will click. So a lot of students drop the idea of launching businesses and instead opt for the placement opportunities through campus interviews,” said Piyush Khemka, a second-year agricultural and food engineering student.

The DPP has found takers like Arpit Jain, Mayank Jain, Joy Deep Nath and Udit Sajjanhar. The four final-year students of computer science and engineering, have launched a Web 2.0 company called Intinno to provide a platform that promises to extend the classroom experience to the Internet.

“The fact that one can opt for placements later can be a deciding factor for many students in taking up entrepreneurial ventures,” said Mayank Jain.

The Indian Institute of Management, Ahmedabad, also has a similar policy to encourage entrepreneurship.

“We have learnt that at IIM Ahmedabad, the number of students opting to launch their own business has doubled after the introduction of this policy,” said Khemka, a member of the entrepreneurship cell.

The cell conducts various programmes through the year to encourage entrepreneurship. The DPP will complement the cell’s initiatives, added Khemka.

To make the programme effective, the authorities have put in place “a fool-proof system”.

First, students willing to opt for the DPP will have to submit a letter of intent informing the authorities about the decision to opt out of the placement process. The student will also have to submit an application to the training and placement section along with the proposed business plan.

Then, the sponsored research and industrial consultancy unit will conduct a feasibility study of the project and on the basis of its report, the training and placement section will register students under the programme.

“The process will ensure that the students get proper guidance in terms of the viability of their projects before they take the plunge,” said Mathur.