India's next big unicorns will be built on governance, not just grit: BMU Leadership Report 2025

The survey was conducted under the mentorship of Jolly Masih and Vaishali Sharma (Chair and Co-Chair of Leadership Summit).

According to BML Munjal University, the study provides a deep understanding of India's evolving youth entrepreneurship landscape and the growing significance of governance, financial discipline, and mentorship in shaping sustainable start-ups.

The report draws from a dual-cohort study involving 1,000 students across Indian universities and 200 industry professionals, including founders, CXOs, investors, and ecosystem experts.

"The findings reveal a generation that is not only ambitious but also eager to build responsible ventures anchored in transparency and trust. Nearly three-fourths of students surveyed expressed a clear intention to start their own ventures, reflecting the growing mainstream appeal of entrepreneurship as a preferred career path," a statement said.

While the enthusiasm for entrepreneurship remains high, the study underscores significant structural challenges. Mentorship gaps continue to be the most critical barrier, with only 14% of young founders receiving consistent guidance and 32% of industry respondents identifying it as the foremost challenge faced by new entrepreneurs. This lack of sustained advisory support directly impacts strategic planning and financial decision-making in early-stage ventures.

Jolly Masih, Associate Professor, Chair, Leadership Summit, said, "This year's Leadership Report highlights a defining shift in how young entrepreneurs view success from chasing scale at any cost to building responsibly. The next wave of unicorns will not just be driven by innovation, but by integrity, governance, and financial discipline. As educators, it is our responsibility to nurture this mindset early, so that ambition and accountability grow hand in hand."

Vaishali Sharma, Co-Chair, Leadership Summit, added, "The findings reaffirms the need for universities and industry to work together in building an ecosystem that mentors and guides young founders beyond ideation. Governance is no longer an afterthought, it is a leadership skill. The focus now must be on equipping our students with the ethical and strategic acumen to lead ventures that are both resilient and responsible."

Financial literacy and regulatory awareness also emerged as critical pain points. Although 39% of respondents believe that seed funding is accessible, 35% remain unaware of how to approach it.

Around 72% of students admitted that financial integrity among young founders is only moderately managed, highlighting the need for early-stage education in financial oversight and risk management. Governance, often perceived as a compliance burden, is instead emerging as a catalyst for stability and scale.

More than half of the industry respondents viewed governance as an enabler of growth, while 33% identified it as the most deficient capability among youth-led start-ups. The study found that ventures with structured board reviews, transparent reporting systems, and ethical frameworks earned significantly higher investor trust.

Transparency and social impact were seen as the two most influential drivers of investor confidence, followed closely by founder credibility. The report also highlights the important role universities play in shaping the next generation of responsible entrepreneurs.

Nearly half of the students rated their universities' contribution to entrepreneurship as significant, while 89% supported integrating courses on ethics and financial accountability into the curriculum. At the same time, only 9.6% found existing incubation programmes highly effective, suggesting the need for deeper engagement between academia and industry to bridge mentorship and capability gaps.

Named after the late Founder Chairman of the Hero Group, BML Munjal University (BMU) is a not-for-profit initiative founded by the promoters of the Hero Group. (ANI)