En­trepreneur­ship Devel­op­ment In­sti­tute of In­dia sets up startup fund for post grad­u­ate stu­dents

Business Sphere - - Ed II - By Our Cor­re­spon­dent

Gu­jarat-based En­trepreneur­ship Devel­op­ment In­sti­tute of In­dia (EDII), an en­tre­pre­neur train­ing in­sti­tute sets up start-up fund for its Post-Grad­u­a­tion stu­dents. Ac­cord­ing to EDII, this fund is in ad­di­tion to schol­ar­ship given to stu­dents on means-cum-merit ba­sis. A panel of ex­perts, bankers and EDII fac­ulty as­sess the vi­a­bil­ity and po­ten­tial of the project be­fore sanc­tion­ing the start-up fund. One of the first stu­dent re­cip­i­ent of start-up funds is Utkarsh Gu­lati, for his food truck restau­rant startup - Re­stron Wheel which plans to en­ter into other cities in­clud­ing Delhi, Ahmed­abad, Pune and Ben­galuru. "Up­till now two stu­dent re­ceived these fund and cur­rently EDII is eval­u­at­ing an­other 20 ideas for its next round of startup fund­ing" said Satya Acharya a pro­fes­sor at EDII. EDII, Ahmed­abad of­fers a post grad­u­ate di­ploma in busi­ness en­trepreneur­ship, spe­cially de­signed for those who wish to set up their own busi­ness.

In­dus­try pledges com­mit­ment to the Na­tional Skill Devel­op­ment Mis­sion. Each dis­trict to have at least one skill devel­op­ment cen­tre by 2017 – Venka­iah Naidu

Cor­po­rate In­dia has re­sponded pos­i­tively to the Gov­ern­ment’s call for play­ing a big­ger role in skill devel­op­ment. The chal­lenges and op­por­tu­ni­ties of skill devel­op­ment in In­dia were dis­cussed elab­o­rately at the Na­tional In­dus­try Con­clave on Skill held in Mum­bai today. Ad­dress­ing a press con­fer­ence at the end of the con­clave, Union Ur­ban Devel­op­ment Min­is­ter Shri Venka­iah Naidu said that skilling the youth is the big­gest chal­lenge in In­dia. He said the num­ber of vo­ca­tion­ally trained peo­ple in In­dia is only 5.3%, as against 70-90% in coun­tries like Ja­pan, South Korea and West­ern Europe. Shri Naidu said, in the ar­eas of skill devel­op­ment we have to take care of school dropouts, col­lege dropouts, grad­u­ates and post grad­u­ates, en­gi­neer­ing, vo­ca­tional skills, agri­cul­ture and al­lied ac­tiv­i­ties, craft and self-help groups. Shri Naidu in­formed that six union min­is­ters - Shri Nitin Gad­kari, Shri Manohar Par­rikar Chaud­hary Rao Biren­der Singh, Shri Dhar­men­dra Prad­han, Shri Ra­jiv Pratap Rudy and him­self held wide rang­ing dis­cus­sions with the cap­tains of the in­dus­try seek­ing greater cor­po­rate par­tic­i­pa­tion in skill devel­op­ment. The Min­is­ter stressed on the im­por­tance of im­part­ing right skills

for the youth and urged in­dus­try lead­ers to help in es­tab­lish­ing at least one skill devel­op­ment cen­tre in each of the dis­tricts of In­dia. “Youth are the fu­ture of our coun­try, they have as­pi­ra­tions and we have to come to­gether to ful­fill their as­pi­ra­tions” he said. Stat­ing that pri­vate sec­tor em­ploy­ment and self-em­ploy­ment are the fu­ture av­enues for the youth, Shri Naidu asked the in­dus­tri­al­ists to come for­ward and adopt ITIs (In­dus­trial Train­ing In­sti­tutes) across the coun­try. Shri Ve­nakaih Naidu in­formed me­dia per­sons that al­most all the cor­po­rate lead­ers pledged their help in bridg­ing the skill gap. He said the in­dus­try re­quested the gov­ern­ment to es­tab­lish cen­tral mech­a­nism of cer­ti­fi­ca­tion of skilled work­ers. They also de­manded es­tab­lish­ment of train­ing schools for the train­ers, Mr. Naidu added.

Meet­ing with the in­dus­tri­al­ists

Ear­lier in the day Union Min­is­ter for Ship­ping, Road Trans­port & High­ways, Shri Nitin Gad­kari said in­dus­try par­tic­i­pa­tion in skill devel­op­ment could be a win-win partnership . De­fence Min­is­ter Shri Manohar Parikkar out­lined the emerg­ing op­por­tu­ni­ties in the field of de­fence util­i­ties and un­der­lined the need for hav­ing trained man­power to take up these jobs. Skill Devel­op­ment Min­is­ter Shri Ra­jiv Pratap Rudy ob­served that cor­po­rates were al­ready do­ing a lot of work un­der their Cor­po­rate So­cial Re­spon­si­bil­ity (CSR) pro­grammes, but most of this was in the field of health and ed­u­ca­tion. “90 per cent of CSR is fo­cused till now on health care and ed­u­ca­tion. If CSR funds can be chan­nel­ized to skill devel­op­ment, it would be an in­vest­ment in the coun­try’s fu­ture and the in­dus­try it­self can reap ben­e­fits”. Shri Rudy said that the gov­ern­ment has pre­pared an elab­o­rate road map for in­dus­try par­tic­i­pa­tion in skill devel­op­ment, and there is a great deal of op­er­a­tional flex­i­bil­ity be­ing of­fered . He also in­formed that the Gov­ern­ment has lib­er­al­ized the ap­pren­tice­ship frame­work in a bid to fast track skill devel­op­ment. Par­tic­i­pat­ing in the morn­ing meet­ing, the Chief Min­is­ter of Ma­ha­rash­tra Shri Deven­dra Fad­navis an­nounced that all ITIs in Ma­ha­rash­tra will be open for adop­tion by the in­dus­try. He said, al­ready 400 ITIs in the state have been adopted by in­dus­tries and the re­sult is en­cour­ag­ing. Mr. Fad­navis ob­served that the skilling should be as per the needs of the in­dus­try and not be­come a mere cer­ti­fi­ca­tion process. Cyrus Mistry of the Tata Group, Sa­j­jan Jin­dal of JSW, Su­nil Bharti Mit­tal of Air­Tel, Venu Srini­vasan of TVS, G M Rao of GMR Group, Ajit Gu­la­bc­hand of HCC, Swati Pi­ra­mal of Pi­ra­mal En­ter­prises, Ni­ran­jan Hi­ranan­dani of the Hi­ranan­dani Group, Nikhil Meswani rep­re­sent­ing Re­liance, Naushad Forbes of the Forbes Group were prom­i­nent among those who at­tended the meet­ing. The in­au­gu­ral Na­tional In­dus­try Con­clave on Skills was or­ga­nized in Mum­bai to co­in­cide with the 153rd birth an­niver­sary of spir­i­tual icon of youths – Swami Vivekananda. This will be­come an an­nual event and will see par­tic­i­pa­tion across min­istries and cor­po­rate.

Cor­po­rate Skill Ex­cel­lence Cen­tres

As part of the Skill In­dia Devel­op­ment Mis­sion, launched by Prime Min­is­ter Shri Naren­dra Modi on July 15, 2015, the Min­istry of Skill Devel­op­ment & En­trepreneur­ship has em­barked upon a spe­cial in­dus­try ini­tia­tive to at­tract lead­ing cor­po­rate to set up co-branded Cor­po­rate Skill Ex­cel­lence Cen­tres in PPP mode. The Gov­ern­ment will pro­vide var­i­ous tax and non-tax in­cen­tives for cor­po­rates that set up Cor­po­rate Skill Ex­cel­lence Cen­tres as part of their core busi­ness or CSR ac­tiv­i­ties. The CSR funds can be routed through Na­tional Skill Devel­op­ment Fund with spe­cific out­comes.

Naren­dra Modi, Prime Min­is­ter of In­dia

Venka­iah Naidu, Min­is­ter Par­lia­men­tary Af­fairs; Ur­ban De­vel­op­ment; Hous­ing and Ur­ban Poverty Al­le­vi­a­tion

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