The best time to take risk is at early stage of your career. One will be having very less commitments. For example if an engineering grad has good final year project he can convert into an startup with his friends. These days many of the college has incubation centers. By starting your comapny in the college will provide you help from the college/faculties etc. You wont feel alone in the battle of success. You will always be in touch with all knowldege base your college. Once your company is stabilized then take it to next level.
I have studied birth of US silicon valley in detail. Majority of the starups in the silicon valley are from fresh college grads from stanford university. What this tells is experience is a relative term. If you have a great idea, a mastermind team, and some VC or angel investors then no one can stop you from starting your company.
In India, mentally of people is get experience and then start your company. I dont say it is wrong but even fresh college grads can venture into starups. Even if they fail it will be a great learning experience which is more valuable then working for years in a established company. There are about ~27000 hitech companies in the silicon valley. It means every day one or the other company takes birth in silicon valley! In India people beg the MNC's to start a shop in thier city, rather then provididng full support for the home grown entrepreneur. Remember India can generate huge employments after 5 to 10 years only when the support and scope for home grown startup is more.
I am Mechanical engineer(2005), in another 2 months I will be starting my own company back in my college. My college is supporting me in this.
Just an adivce for freah passed out grads, if you want to be an entrepreneur then better look back to your college for incubation support. Catch hold of some final year students to develop your product, they will work as their final year project and later commercialize your product. This type of startup model will prove to be a easy approach for software/small hardware startup.
What I belive is a great college, a brilliant idea, an hardworking team, access to VC/angels and some good restaurants nearby is an ideal receipe for starups[:-)]
My best wishes to all the young entrepreneur. Belive in yourself, read success stories of silion valley startups. And plan well before your venture into startups.
