MUMBAI: Startups do not seem to be the flavour of this placement season. The Indian Institutes of Technology have seen a 50% fall in the number of startups that will be present for the campus recruitment drive . Missing conspicuously are e-commerce unicorns Flipkart, Paytm, OlaCabs and Snapdeal that haven't yet signed up to shop at any of the IITs.
While the response from startups has been tepid , overall it's a happy placement season for IITs with pre-placement offers up by 25-30% compared to last year.
Earlier this year, the IITs barred 31 firms , including Grofers, baby clothing website Hopscotch, Portea Medical and a host of other startups, from participating in their placement drives . They were blacklisted for a year for "playing with the careers of students" by making last-minute changes to their offers, revoking offer letters, falsely hiring them for affiliates and delaying joining dates.
IITs screening startups to check funding, stability
The All IIT Placement Committee, which decided to blacklist these companies, estimated that around 135 students from across IITs were affected by these companies' actions.
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Dec. 19, 2023, 9:07 a.m. Reply
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