7 Successful Entrepreneurs from IIT and IIM

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In today’s volatile world, the only thing that is constant is cut-throat competition. With 135 crore population, all of them competing to ace in the race of success. Many settle for 9 to 5 jobs and only few have the guts to became an Entrepreneur.

The success stories of Indian Entrepreneurs across India will serve as an inspiration for those hoping to make it big in the entrepreneur world. These success stories will work as an inspiration and also proves that- Nothing is Impossible; if you have the will to accomplish it.

Here is a list of 7 successful Entrepreneurs from IIT and IIM of India. Barring the big names such as Sachin Bansal and Binny Bansal.

List of 7 Successful Entrepreneurs :

1. Sachin Bansal and Binny Bansal, Flipkart

Flipkart

One of India’s biggest e commerce companies Flipkart was launched by Sachin Bansal and Binny Bansal in October 2007. Both agree work in Chandigarh and later studied at IIT Delhi one of the best graduate schools of the country. After working in different companies for a year they both and they ended up at Amazon one of the biggest e commerce site in the world and that is when the idea was born to establish their own.

They raised ₹2 lakh investment each from their family and kicked off a website in October 2007, which sold only books from retailers in the beginning. As the E-Commerce industry in India was still finding its feet, they had to build the customer’s trust in them as well as a culture of browsing goods online while tackling the challenges, which the nature of this business brought.

Their success was largely dependent on the delivery time of the products, so they decided to launch their own supply chain management system to make sure the orders arrive to people’s doorstep on time. They were also the first ones in India to provide the option of ‘cash on delivery’ which is widely used today among other online businesses. Their hard work and persistent soon lead to 50 million customers buying everything, from mobile phones, electronics, home decoration items to jewellery through Flipkart everyday.

Flipkart is still giving a tough fight to all the e-commerce platforms out there and continues to win the hearts of Indians.

2. Bhavish Aggarwal and Ankit Bhati, Ola

OLA

It was the year 2010 and to IIT Bombay Students Bhavish Aggarwal and Ankit Bhati wanted to head out on a weekend trip like most people did at that time they found it difficult to book a cab. Being techies and engineers they thought of an idea wouldn’t it be cool to able to book a ride on an app? That thought that to the birth of Ola trip Mumbai based tour and travel operator.

Ten years down the line, the name Ola is synonymous with easily available rides and more. The Bengaluru-base Unicorn, with valuation of close to $3 billion (was $6 Billion, 2019) now has a presence in over 250 cities across the globe.

In addition to expanding its geographical footprint, the company has also expanded into foodtech and electric mobility segment making inroads into both is benches in a matter of months. Its Ola electric entity also entered the coveted Unicorn club earlier this year. Ankit Bhati is the recipient of the Billionth Award in 2013, Best startup of the year by IAMAL, and was listed in Forbes 30 under 30 list.

Interestingly, Ola began its operation in India at the same time that its global competitor, Uber, Started operation.

Success

3. Deepinder Goyal and Pankaj Chaddah, Zomato

Zomato

Pankaj Chaddah, also an IIT-Delhi graduate, became friends with Deepinder Goyal when they were both analyst at Bain and Company. He and Deepinder came up with the idea to create an online directory for restaurant menus, while holding their day jobs.

Zomato is an Indian multinational restaurant aggregator and food delivery company founded by Deepinder Goyal and Pankaj Chaddah in 2008. Zomato provides information, menus, and user review of restaurants as well as food delivery options from partner restaurants in selected cities.

4. Aloke Bajpai and Rajnish Kumar, Ixigo

Ixigo

Aloke Bajpai and Rajnish Kumar met each other at IIT Kanpur, which is where they were graduating. And then they went to Amadeus which is a very large Global travel company. Before somewhat going their way, Aloke went to do his MBA at INSEAD while Rajnish continued to be technologist in Amadeus company. They came back to India in 2007 and started Ixigo.

Ixigo through its website and numerous mobile apps, benefits the tourists to cut out of going through loads of information plus online travel contracts thus facilitating in curating a travel plan for a safe and fun experience. It basically aggregates and then compares variants like real time travel information in terms of prices, and the availability of flights, trains, buses, cabs, hotels, packages, and destinations.

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5. Sanjeev Bikhchandani, Naukri.com

Naukri.com

The venture is an ideation of IIM Ahmedabad Alumni Sanjay a Bikhchandani. He left his lucrative job profile with Horlicks at HMM (Now known as GlaxoSmithKline) in 1990 to set up two companies Indmark and info edge (India) along with the partner. Bikhchandani Setup naukri.com jobs portal on a server in the United States. As an entrepreneur, the initial 10 years was the most difficult phase for him to establish the venture.

The company did not become a brand overnight. After much struggle, Naukri.com was launched in March 1997 with 1000 ads taken out of various magazines. Other than naukri.com, Info Edge also owns websites like Jeevansathi.com, 99acres.com, brijj.com, Naukrigulf.com, Shiksha.com and FirstNaukri.com.as well.

6. Deep Kalra, MakeMyTrip

MakeMyTrip

The Indian online travel company was founded by an Alumnus of IIM Ahmedabad. The company was launched in the US market in 2000 with an ideology to cater to Indian community for their US-to-India travel needs.

The company’s fate took a turn when IRCTC’s online business model enabled the Indian traveller to purchase railway tickets at low-cost carriers entered the Indian aviation space. At that time, the company tapped the opportunity and launch Indian operations in September, 2005.

The company also started to focus on non-air businesses like holiday packages and hotel bookings. On 13th August 2010, MakeMyTrip was listed on the NASDAQ and went public, making a debut in the US market. The company also operates through 65 retail stores across 50 cities in India, along with international offices in New York City and Sydney.

7. Supam Maheshwari, Firstcry

Firstcry

The venture was initiated by IIM Ahmedabad pass out and Engineer from the Delhi College of Engineering, Supam Maheshwari. His motivation to startup came from the issues he faced as a first time parent. Maheshwari has even acquired Mahindra ‘Babyoye’ in a stock deal and also secured an investment from the $18 billion conglomerate. At present he is the CEO of by far the largest baby and mothercare retailer in India, both online and offline.

In 2012, he also launched a logistics business to fulfil it’s own orders. ‘XpressBees’ which is now run by Saha, started taking third party orders in 2015 and raised Rs85 crore in funding after spinning off from Firstcry. In addition, Firstcry has 70 offline stores are mostly located in Tier 1 cities like Bangalore, Chennai, Noida, Lucknow etc.

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We hope the list of famous Indian Entrepreneurs motivates you to act on that startup idea you have in your head. Who else do you think should be featured in this list and what makes you go gaga over him or her?

Happy Reading 🙂

Yatindra Pandey is the Founder of Motivational Dreams and studying self-development, personal finance and investment for last 3 years. Yatindra's mission is simply, to inspire others to live their dreams and be the person to whom they say, " Because of you, I never gave up. "
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