The trope about successful dropout founders just isn't really true. Most successful founders finished college. That's not to say that college is the end-all and be-all of life (it's barely just beginning), but let's not pretend that a small handful of famous dropouts makes the trend.

Or much more importantly, most of those business founder dropouts had strong support systems in upper class families.

It tells me that these universities have an environment that supports students setting up and running companies while still enrolled. Students being successful enough to drop out before graduating is a badge of honor for these universities. Flexibility with schedules, reduced work load, taking semesters off – none of these are allowed by Indian colleges (believe me, I went through it myself). You can't even pick your own subjects or class schedule. Tell me, what was the last success story to come out of the IIT entrepreneurs' club?