Just 9 per cent of Indian Gen Z respondents exhibited an interest in entrepreneurship as per the first Global Quest Report 2024, developed in partnership with iQOO and CyberMedia Research (CMR), has recently provided a comprehensive analysis of Generation Z's goals, occupations and aspirations. This analysis digs into the motivations, problems and job interests of the Z generation drawing on data from 6,700 respondents aged 20 to 24 in seven countries, including India, the United States and the United Kingdom.
The Global Quest Report 2024, provides a deeper insight of the youth market. This paper, produced in conjunction with CyberMedia Research (CMR), examines the characteristics and tendencies of Generation Z. The survey, which covers seven countries—India, the United States, the United Kingdom, Brazil, Malaysia, Thailand and Indonesia—looks at the spirit, motivation and problems that this generation faces as they follow their aspirations.
According to the survey, while India has the world's third-largest start-up ecosystem, with over 1.25 lakh firms and 110 unicorns, just 9 per cent of Indian Gen Z respondents exhibited an interest in entrepreneurship. Instead, a sizable 19 per cent choose professional growth within established organisations, seeking stability and security in their work lives. This conservative approach echoes the broader issues that start-ups confront, with angel investors growing increasingly apprehensive.
The analysis, conducted using a quantitative indicator known as the Quest Index (QI), indicates that India has the highest QI of the seven countries assessed, at 9.1. Malaysia is next with a QI of 8.7, while Brazil ranks last with a QI of 7.8. According to the data, 43 per cent of respondents in India, and 46 per cent internationally, are willing to compromise work-life balance for career success. 84 per cent of Indian Gen Z Questers also say their jobs match their objectives, compared to 72 per cent globally.
Nipun Marya, CEO of iQOO India, reacted on the release, adding, "Today's youth are defined by their daring goals and unyielding determination to make those dreams come true. This unwavering spirit is embodied in our brand philosophy, 'I Quest on and on.' We've been inspired by the creative ways in which young people use technology to achieve their ambitious aims. The Global adventure Report and Quest Film are our efforts to encourage Generation Z to embark on their own adventure, despite the countless hurdles, and achieve their goals."
Prabhu Ram, Vice President- Industry Research Group, CyberMedia Research (CMR), continued, "In an increasingly complicated, digitally-driven world, today's youth face unprecedented hurdles. The Global Quest Report, commissioned by iQOO, looks at the viewpoints of a bold new generation in Asia, Europe, North America, and South America. The high levels of clarity and focus on huge aspirations, along with a hustler mindset, reflect the situation of India's young today."
The research also emphasises the resilience and determination of Indian youngsters. Despite financial constraints, more than 90 per cent of Indian respondents are optimistic in reaching their goals. 65 per cent of Indian Gen Zs consider failure as a learning opportunity, while 60 per cent say it helps them get closer to their goals. According to the poll, 51 per cent of Questers are likely to pursue higher education to support their aims, while 32 per cent believe that choosing suitable employment will help them reach their goals.
