Often, we come to hear of the news of graduate engineers being unemployed for several years after graduating. In 2015, as per a survey done by a leading skill assessment agency, Meritrac, only 10 percent of engineers graduating were capable of being hired by IT services companies. The figure for product development firms was even more shocking. Only 6 percent were employable in top firms like Microsoft, Adobe Inc, etc.
If you think this is despicable, the worst is yet to come. It is estimated that only 4 percent of the engineering graduates can solve a fundamental mechanical and chemical problem for core and manufacturing firms. No wonder we find highly qualified engineers applying for peon jobs in the Railways. As per leading staffing firms, Teamlease, most graduates have to be trained on the job for at least a year before being deployed on real-time projects. So, firms lose a lot of money in training these fresh hires before extracting the maximum benefit out of them.
For the last five years, only 15-20 percent of engineers could obtain campus placement directly, and the rest had to wait almost three years before getting the right kind of job. Therefore, many engineers are starting their businesses and opting for entrepreneurship, instead of focusing only on appointments. Let us list the top five Indian engineers who started great enterprises without acquiring an MBA.
1) Vishal Shah – Storia Foods and Beverages
Vishal Shah is one of the most pioneering businessmen in the field of chemical engineering. He utilized technology to solve the issues of the food industry using innovative products. The latest technologies are utilized to make the process easier, turn the product valuable and healthier. Shah created Storia Foods & Beverages in the year 2016. The mission is to provide convenience and sustainability and lead to a much simpler lifestyle with nutrition products. Storia Foods and Products handles four Stock Keeping Units like coconut water. This was followed by fresh fruit juices, milk powder, and shakes. Within two years, Storia expanded to fifty-two cities in India and having fifty thousand retail stores. The company recorded a turnover of Rs 23 crores in the year 2018-2019.
2) Sumit Agrawal – Vyapar
Sumit Agrawal was working for Intuit’s Quick Books, accounting software for small firms. He realized that small firms and MSME’s required a much smaller software, which was much more affordable. In 2016, Sumit commenced Vyapar with savings of eight lakhs. It is a straightforward business accounting and inventory management app for small firms. The app can be used on PCs, smartphones, and downloaded by more than a million MSMEs. Vyapar’s turnover has reached three crores per annum.
3) Vijay Mansukhani – Onida
Vijay Mansukhani was working in the merchant navy in the 1970s. After meeting his future wife, Gulu Mirchandani, he jumped the entrepreneurship wagon and launched the first color TV brand ‘Onida’, during the Asian Games in New Delhi, in 1982. The Indian government had announced the entry of color TV. Soon, Onida became the first choice of the Indian consumer. As time progressed, Onida became a 736 crores firm.
4) Zubair Rahman – The Fashion Factory
Zubair Rahman, from an Electrical and Electronics engineering background, worked as a lowly CCTV operator at a garment factory in Tirupur. He received an order to install CCTV’s in the eCommerce company office. After realizing the opportunity of starting a fashion business, he left his job, and in 2015, he invested just Rs 10000/- to commence the Fashion Factory in his home. The firm is receiving 200-300 orders daily, and the firm has a turnover of 50 lakhs every month.
5) Ajay Kumar Jaiswal – Urja Gasifiers
Ajay Kumar Jaiswal, an engineer by profession, started the firm Urja Gasifiers to make renewable energy and manufacturing eco-friendly products for customers. The firm has established in the areas of pollution control and renewable energy. It is known for high-quality manufacturing. The firm is focussed on making creation systems. The market size of the cremation system exceeds 5000 crores. The firm has a income of more than 1.25 crores.
Through this blog, the author has tried to explain the incredible examples of India’s top five engineer turned business people, who have created top-class businesses without actually pursuing an MBA. This dispels the common notion that it is essential to waste tons of money, acquiring a wasteful MBA degree. These success stories also prove the notion that no business school can compensate for a real-time experience. This blog doesn’t intend to demean the value of an MBA in any way. If you acquire a Master of Business Administration from a top-notch school, it holds a lot of weight.
Even if you have missed the coveted MBA degree by any chance, you needn’t despair at all. It would help if you utilized this time by gaining valuable experience, which will enable you to imbiibe a lot of new skills like risk-taking, developing new customers, and beautiful habits. You will earn an additional two-year income during all this time, which you would have lost while pursuing an MBA. Lastly, more significantly, young Indian engineers must not always go in for jobs and waste their time searching. They should explore the option of entrepreneurship and take advantage of the enabling environment, which has emerged lately due to the easy availability of working capital and loans.