The total amount of FDI inflow into the education sector in India stood at US$ 1.42 billion from April 2000 to March 2017, according to data released by DIPP.
The education system in India provides all the theoretical knowledge to the students and rank them on the basis of their marks acquired in exams. Nonetheless, when it comes to practical knowledge, which is actually required, when on field, the toppers fail to apply the theory, which they were forced to mug up.
Which is why graduates from beyond the top 30-50 colleges of India fail to deliver the basic skills that one would expect from looking at their degrees or diplomas in the workplace?
According to a recent study, only 34 per cent of India's 5 million graduates are employable in any industry.
The challenge is to provide vocational training to almost 500 million people by 2022.
The total amount of Foreign Direct Investments (FDI) inflow into the education sector in India stood at US$ 1.42 billion from April 2000 to March 2017, according to data released by Department of Industrial Policy and Promotion (DIPP).
The Government of India has allocated around Rs 17,000 crore (US$ 2.55 billion) towards skilling, employment generation, and providing livelihood to millions of youth, in order to boost the Skill India Mission.
This has left an entire room for the private skill training companies to grow. To start a skill training company is not a cake walk, money alone won’t solve the requirements but strong determination too is required.
Here are a few tips for the aspiring edupreneurs and businessmen, who want to participate in equipping India with skillful students:
It is like ‘Practice before you Preach.’
If you are going to equip an entire generation with the required professional skills, make sure that you possess the knowledge, education or validation that proves that you are well aware of the subjects you are going to pass on to the generations.
Moreover if people come to know about your credentials, they will self advertise and encourage people to join your training institute or companies.
Even if you think you are going to hire the best of teachers to teach the students, yet it is important you are educated enough to find out or evaluate the right candidate for the students.
Commitment and Smartitude:
This job requires money, a lot of it. But money alone won’t fulfill the requirements. Thus one has to endure the initial failures and rejections, which money fails to buy, like name, fame and success.
It takes some time to set the entire institute to set up but one has to be a little smart and not pour all the money in erecting the infrastructure.
Most training start-ups struggle to last long enough with the losses and heart breaks. One has to be smart in distributing money before starting the business. A small set up can deliver quality content, once the brand is made, high walls can be build around the institute as it grows.
Be More Expressive:
This is a time, where people believe more on what they hear, see and perceive. Thus put on big banners, advertisements in all the mediums available.
A time to time reminder with a touch of creativity will keep the people engaged as well as active in their thoughts.
Let them know about your company and its growth through advertisements, articles, blogs, press releases and case studies.
If time and again people tend to see, hear or perceive about your company, it ensures that the basic figure about your company is made in their back of mind.
Try and get connected to the mass or potential population by spreading messages in the language they understand, get connected to or can relate to. Do not pester them with your corporate or industrial language, which will sound alien to them.