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Why Ritesh Malik is not fond of startups run by IITians


At the time when investors look for the IIT tag before backing a young entrepreneur, this angel investor prefers to keep away from IITians. In an interview with Techcircle.in, Ritesh Malik, founder, Innov8, and an active angel investor, says that he is not very fond of investing in startups founded by people who have studied in the IITs and the IIMs. “One thing I’ve learnt is that innovation doesn’t come out of IITs and IIMs, it can even come from a very small college. The failure rate is so high there,” he says. According to him, just because Flipkart and Snapdeal are run by IIT alumni, “it doesn’t mean IITs are the big thing to work on”. He further claims that startups run by IIT alumni have burned Rs 185 crore of investors’ money without showing any profits.

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Prasad Np April 12, 2016 14:17

good to know somebody has contrarian view and is looking beyond the obvious

Dr Bhavi Mody April 12, 2016 17:31

Glad! to have someone who really values the entrepreneur’s worth and the degree! nothing against having the degree but ultimately it is your ability that counts and matters. Hope to meet you in person some time.

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