An Indian Institute of Technology survey says every IIT-ian has created 100 jobs and that every rupee spent on an IIT-ian has 'created an economic impact of Rs 50 at the global level, half of which is India's share'.
The study is a global Internet-based survey that attempts to map the impact of IIT-ians on the global economy across areas like entrepreneurship, scientific and technological achievement, social transformation, research, educational and leadership.
The survey takes stock of the contribution made by IIT-ians over the last half a century across professions and geographies, and to create a fact-base for mobilising IITs and IIT-ians to find out how they can do even more.
The impact study was launched on September 22 and more than 4,500 IIT alumni have participated in it, providing a robust sample from which to draw preliminary conclusions.
Contrary to the belief that IIT-ians triggered off brain drain in India, the data from the survey reveals the following:
- IIT-ians have been involved in the creation of over 2 crore (20 million) new jobs.
- The IITs have graduated about 200,000 students from the seven campuses since 1954 (including Roorkee before it became a full-fledged IIT). Of these, 40 per cent were from undergraduate programmes and 60 per cent from graduate programmes.
- The survey says that IIT alumni in senior positions in industry and government, across the world today, have a budgetary responsibility for over $885 billion (Rs 40,00,000 crore).
- When measured across industry, government, entrepreneurial activity and scientific/technological innovations, IIT alumni have been associated with over $450 billion (Rs 20,00,000 crore) of incremental economic value creation.
- Of the IIT alumni who graduated prior to 2001, 40 per cent are in top leadership roles in corporations, educational institutions, research labs, NGOs, governmental agencies, politics, and as entrepreneurial heads of their own companies. A majority of these top leaders believe they have contributed most through their personal impact on innovation relating to product, process, services, etc.
- Among the IIT alumni who are in top leadership roles, almost 70 per cent are currently based in India, with 20 per cent of these being those who come back to India after careers in other parts of the world.
- The study says that 54 per cent of the top 500 Indian companies currently have at least one IIT alumnus on their board of directors, and these companies have cumulative revenue ten times greater than that of other companies on the list.
- Twenty per cent of the IIT alumni work in research & education. About 75-80 per cent of IIT alumni in research & education continue to work in science and technology related areas. Half of the IIT alumni in research & education are based in India, and of these 40 per cent those who returned to India after careers abroad.
- Ten per cent IIT alumni are currently engaged in social transformation working in NGOs, government administration or politics, on programs relating to education, the environment, or poverty reduction, etc. IIT alumni working in this area have founded over a 1,000 NGOs, the survey adds.
- One in 10 IIT alumni has started their own companies, with over 40 per cent of them being serial entrepreneurs. Two-thirds of the companies founded are in India.
The IIT Alumni Impact Study 2008 was conducted by Pan-IIT, the umbrella organisation of the Indian Institutes of Technology, in conjunction with India Brand Equity Fund and Zinnov Management Consulting.
It will be released at the Pan-IIT 2008 Global Conference to be held at IIT-Madras between December 19 and 21.
The conference will see 3,000 IIT alumni and 200 delegates converging for the mega event at IIT-Madras.