Top execs quit jobs to become entrepreneurs

New Delhi: The recession has nurtured the boldness of the top executives in the industry, with many of them in India renouncing their high-profile jobs to bloom their entrepreneurial ventures. "It's more difficult for top-level executives to take the plunge as there is very less chance of returning as top level jobs almost seem to vanish in an economic slowdown," said Romi Malhotra. Malhotra, had quit as the Managing Director of Dell India in 2008 to start a leadership development venture.

The lures to begin as an entrepreneur range from lack of motivation in workplaces to spending more time with their family. "I am now able to give more time to my four year old," Jayanthi Kaushik, who left FMCG company Dabur India as the head of exports told The Economic Times. Jayanthi, now, heads a commodity exports consultancy, which supplies rice, wheat and sugar to governments of Dubai, Iran and Angola. The urge to break free is particularly strong in sectors like IT-BPO, manufacturing, real estate and retail. "The slowdown has acted as a trigger for the executives to pursue their dreams as companies curtail their responsibilities and roles," says Manish Sabharwal of Teamlease, a company that provides temporary employees.

Many of the prospective entrepreneurs are also approaching venture capitalists. "We are involved in discussions to fund some of these ventures. There is a rise in such proposals," says Alok Mittal, Managing Director of Canaan Partners, a global venture capital firm. But these guys are not after money.

The new entrepreneurs, however, have no regrets on their decision as they enjoy more time for their personal life. "I am able to give more time to my two daughters, which I was unable to earlier," said Malhotra. He had spent a month on a cruise to Alaska- unimaginable in his last job at Dell. His venture, Dominion, is doing well, too. Moreover, "This is the right time to start as one can get real estate and talent at low cost," says Ashish Taneja. Taneja put in his papers as the CEO of business process outsourcing firm Vertex India in September last to start GrowX Ventures that provides advisory services to small and medium-sized companies.