Gen Z sees its future in startups

India’s evolution as a nation has brought about a significant shift in its mindset, particularly among the younger generation. With more settled parents and a country that is moving beyond its infancy, Gen Z has developed a stronger sense of autonomy and a desire for space to explore their potential. This has led to a flourishing startup culture in India, with young individuals majorly opting to work for their startup as an alternative to the traditional 9-5 job.

This generation has grown immersed in a digital world. A world where every information is just a click away-a world where opportunities are in abundance and elevated experiences take precedence over basic amenities.

Gen Z; they are often called the “hungry generation” because they are eager to make a difference they are living in. They are tech-savvy and innovative. A generation of entrepreneurs, more likely to start their own businesses than previous generations, and are more likely to succeed. This is due to a number of factors, including their tech-savvy nature, their diversity, and their commitment to social impact.

The Prime Minister has personally been setting the tone on the Start-up India and Stand-up India campaigns by calling Startups, technology, and innovation as exciting and effective instruments of India’s transformation and it has been having an impact on the psyche of the nation. Having much stronger right-wing and shrill noises have a spillover effect where many think of creating something new as their contribution to nation-building.

Don’t we see many young kids being able to code from grade 6, and well-versed with all new gadgets as if “they are natural at it”? Being born and raised in the digital era, they tend to be more comfortable and adept at utilizing technology.

They have grown up with smartphones, social media, and other digital platforms as an integral part of their lives. This exposure has given them a natural fluency in utilizing technology, which can be advantageous in various aspects of their lives, including education, communication, and entrepreneurship.

I remember, in the past, opting to take a break from education or between jobs had a negative impact. However, things have evolved now. Engineering colleges are proudly promoting a policy that allows students to take a one-year break to pursue their own ventures.

My 18-year-old son, who is in his first year of engineering, has already shared a few ideas with a special program at his college that supports student projects and also provides funding for prototypes. It’s interesting to note that many prestigious educational institutes like IITs and IIMs have their own programs to support and fund student startups. These programs receive financial backing and support from successful alumni entrepreneurs who want to contribute and encourage the next generation.

I have noticed a decline in job placements related to non-core fields at IITs, which means that many students are now seeing college as more than just a path to a specific career. They are exploring different interests and considering options outside of their primary field of study.

Also, with the increasing penetration of the internet, smaller cities have joined the startup bandwagon. The success stories and challenges faced by large-scale unicorns continue to inspire young people. While not all startups may reach the same level of success, India’s entrepreneurial spirit remains strong.

Over time, more startups will emerge, and more importantly, millions of individuals will innovate to solve new problems. Each of these innovators will create job opportunities for tens or hundreds of people, allowing them to be their own bosses. And, this positive trend will have a significant impact on the future of India.

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