India's Next Big Unicorns Will Be Built on Governance, Not Grit: Report The report highlighted that governance, often perceived as a compliance burden, is instead emerging as a catalyst for stability and scale.

The next wave of unicorns will not just be driven by innovation, but by integrity, governance, and financial discipline, according to Dr. Jolly Masih, Associate Professor, Chair, Leadership Summit.

This is part of BML Munjal University (BMU), an initiative of the Hero Group, which has released its Leadership Summit 2025 Industry Report titled "Youth Entrepreneurship & Start-up Governance – Guiding the Next Generation of Leaders Towards Stability and Success"

"This year's Leadership Report highlights a defining shift in how young entrepreneurs view success from chasing scale at any cost to building responsibly. As educators, it is our responsibility to nurture this mindset early, so that ambition and accountability grow hand in hand," said Dr. Masih.

The report drew data from a dual-cohort study involving 1,000 students across Indian universities and 200 industry professionals, including founders, CXOs, investors, and ecosystem experts. According to the findings, the report said that this generation that is not only ambitious but also eager to build responsible ventures anchored in transparency and trust. Nearly three-fourths of students who took part in the survey expressed a clear intention to start their own ventures, reflecting the growing mainstream appeal of entrepreneurship as a preferred career path.

The report highlighted that while the enthusiasm for entrepreneurship remains high, the study underscores significant structural challenges. Mentorship gaps still continue to be the most critical barrier, with only 14 per cent of young founders receiving consistent guidance and 32 per cent of industry respondents identifying it as the foremost challenge faced by new entrepreneurs.

Vaishali Sharma, Co-Chair, Leadership Summit, said, "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."

The report further stated that although 39 per cent of respondents believe that seed funding is accessible, 35 per cent remain unaware of the right approach. Around 72 per cent of students also admitted that financial integrity among young founders is only moderately managed, highlighting the need for early-stage education in financial oversight and risk management.

The report highlighted that governance, often perceived as a compliance burden, is instead emerging as a catalyst for stability and scale.

More than half of the respondents perceived governance as an enabler of growth, while 33 per cent said it is the most deficient capability among youth-led start-ups. The report said that nearly half of the students rated their universities' contribution to entrepreneurship as significant, while 89 per cent supported integrating courses on ethics and financial accountability into the curriculum.