The shortage of appropriately skilled labour across many industries is emerging as a significant and complex challenge to India’s growth and future. According to NASSCOM, each year over 3 million graduates and post-graduates are added to the Indian workforce. However, of these only 25 percent of technical graduates and 10-15 percent of other graduates are considered employable by the rapidly growing IT and ITES segments. Hence, what we have today is a growing skills gap reflecting the slim availability of high-quality college education in India and the galloping pace of the country’s service-driven economy, which is growing faster than most countries in the world. As businesses propose to double and treble their workforces and India Inc. strives to maintain its position in the global marketplace, it has become imperative to prepare and plan for a world-class, competent, talented and innovative workforce.
The primary reason for this is that the syllabus and courses offered in colleges are not up to date. The subject materials in many colleges have not been updated for years. A degree in engineering is considered necessary for taking up jobs in the technical field. But the dengineering education fall short of the skills required to make an engine. This is accompanied by the fact that instructors are not professionals with experience in the field. It is unfortunate that even some of the most reputed colleges are facing this situation. In a education system that is caught in the web of red-tape-ism and bureaucracy, changing the coursework for colleges is not easily done.
The companies are therefore forced to take this matter into their own hands. After recruitment, the companies put the new employees under a training period to teach them the necessary skills needed for the job. This is their only solution for bridging the gap between the academia and the industries’ needs. Naturally, it is more profitable for the corporate houses to hire proficient applicants rather than waste precious time and resources for recruit-training. In the ever increasing competition for employment, new college graduates are training themselves in the essential skills to increase their chances of being hired. This means that those students who do not get necessary guidance fall behind in the rat race.
Our mission is to provide the next generation of the working population a head-start in their future careers, whether it be starting their own companies or working in software development in corporate houses. In the era technology boom, your software skills can make the difference between rising or falling in your career, and it is more important than ever to know your binaries at the the earliest. As any successful person will tell you – “when you start young, you stay ahead.”
IBA Ventures 