Every IIT-ian has created 100 jobs and every rupee spent on an IIT-ian has 'created Rs 50 globally,' says study. The popular theory of brain drain fom IITs, may have to prove its point with the latest study conducted by the institution revealing that amongst the IIT alumni in top leadership roles, almost 70% are currently based in India.
The IIT Alumni Impact Study 2008, conducted by Pan-IIT, the umbrella organisation of the Indian Institutes of Technology, in conjunction with India Brand Equity Fund and Zinnov Management Consulting released its preliminary findings. The complete survey will be released at the Pan-IIT 2008 Global Conference to be held at IIT-Madras.
The global Internet-based survey aimed to map the impact of IIT-ians on the global economy across areas like entrepreneurship, scientific and technological achievement, social transformation, research, educational and leadership with responses from about 4,500 IIT alumni. The study findings include that IIT-ians have been involved in the creation of over INR 2 crore new jobs with IIT alumni in senior positions in industry and government, across the world today, have a budgetary responsibility for over US$885 billion ie INR 40,00,000 crore. It counters the brain drain theory by supporting statistics that amongst the IIT alumni in top leadership roles, almost 70 per cent are currently based in India, with 20% of these being those who come back to India after careers in other parts of the world. One in 10 IIT alumni has started their own companies, with over 40% of them being serial entrepreneurs and two-thirds of the companies founded are in India.
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