Monday, December 23, 2013

In a study that not only came as a pleasant surprise for Indians but also for the country they immigrated to-  the IITians are among the leading founders of the startup in U.S. The study also places India’s prestigious technological institutes, the IITs, among the top 10 higher educational institutes in the world that have produced founders of U.S. startups that raised their first round of venture capital (VC) since 2010, reports Times Of India.

Adding more to the achievement, IITs are the only non-U.S. technology institutes in the list prepared by PE/VC (Private Equity and Venture Capital) database firm PitchBook, which is topped by Stanford and University of California, Berkeley.

"Perhaps the most interesting, and rather unexpected, entry on the list comes in at No. 10 - the Indian Institutes of Technology. India's entry in the top 10 was definitely a surprise, but with that country's boom in the IT industry over the last couple of decades, it stands to reason that Indian schools are producing innovative thinkers to fuel that country's - and the world's - rapidly growing and increasingly technology-reliant economy," said PitchBook.