Building Future-ready Workforce To Bridge The Great Indian Skill Gap

Building Future-ready Workforce To Bridge The Great Indian Skill Gap

Shreyansh Chandak, Manager, Partnerships and Programs, South & Southeast Asia – Village Capital

Village Capital’s Future of Work India report provides added evidence of the need to further invest in the sector, and support the innovations that help bridge skill gaps, enhance employability, and produce job-ready candidates who can compete with the global workforce.

1) Village capital has recently released the Future of work report. What is the core idea behind this report and how do you plan to realize the vision of preparing India for the future workplace with it?

Shreyansh C: The report is the culmination of our learning from the Future of Work program implemented last year. We received an overwhelming response with over 500 applications from startups across outcome-based learning programs, HR tech solutions, and the ones on a mission to increase productivity, employee engagement, and vocational skills.

The rising need for skill-based education has made the sector popular over the past decade. EdTech became the third most funded sector in India, attracting an investment of $4.7 bn in 2021. Our report was an attempt to bring attention towards the rising skill gap and the need to further boost the EdTech sector. We aim to support the innovations that will help bridge the gaps, enhance employability, and produce job-ready candidates who can compete with the global workforce. This is to fight the most critical roadblock that has hit the Indian job market post COVID.

2) How deeply rooted is the problem of the skill gap in India? How, according to you, can technology help bridge the gap?

Shreyansh C: The unemployment rate in India remains above 7%, and while the government recently pledged to create six million jobs over the next five years, at least 90 million jobs still need to be created by 2030 to accommodate the growing employment-seeking population. India’s growing prowess in the tech space gives hope for the future. We see great potential and promise in technology startups that are reinventing the way in which education is delivered and consumed, making learning methodologies more outcome-oriented, making hiring and onboarding processes more efficient, and designing tools that improve workplace productivity. From being educated to being employable, the roadmap is being created by transformational education technology and edtech startups.

3) How mature do you think the Indian startup system is to accommodate the growing need of creating a skilled pool of workforce and lead the education to build a future-ready workforce?

Shreyansh C: The sector is growing in nature. We have seen a number of new entrants emerging in the space that have attracted huge pools of capital. But in the aftermath of covid, when users/customers have started going back to more traditional learning methods and processes, several of these new-age businesses are struggling.

We expect to see more collaboration within the ecosystem to better support the diverse needs of founders as well as the emergence of a more mature ecosystem with more robust business models that will serve both the offline and online learning ecosystems.

4) VC has already supported 18 startups in future of work. As an entrepreneur support organisation, what did you look at the startups to qualify for the program? What are the areas where opportunities haven’t been tapped yet?

Shreyansh C: We primarily look at 8 different parameters while evaluating a startup – team, problem & vision, product, value proposition, business model, market, scale, and investor exit. Additionally, we consider the impact of the product/service on the end user.

5) What are the major challenges faced by startups in the sector and where do you see the investment trend going?

Shreyansh C: Increasing customer acquisition costs, bringing a high quality / productive team, differentiation in offerings, and long sales cycles for b2b2c businesses are some of the challenges we have seen the businesses struggling with.

Over the last 2 years, we have seen a lot of capital going into early-stage businesses. Over the next 18 months, we expect a lot more consolidation to happen. Growth stage / mature companies will raise capital for acquisitions and that’s where we see an increasing opportunity – in private equity / late-stage investing in the sector. Additionally, early-stage businesses with a strong moat (product/story that sells) will continue to attract and raise capital.

If you have any objection to this press release content, kindly contact pr.error.rectification[at] to notify us. We will respond and rectify the situation in the next 24 hours.


22 thoughts on “Building Future-ready Workforce To Bridge The Great Indian Skill Gap

  1. you are really a good webmaster. The website loading speed is incredible. It seems that you are doing any unique trick. Moreover, The contents are masterpiece. you have done a great job on this topic!

  2. Its such as you learn my thoughts! You seem to know a lot approximately this, like you wrote the e-book in it or something. I think that you just could do with some percent to pressure the message house a little bit, but other than that, that is fantastic blog. A great read. I’ll certainly be back.

  3. Thanks a lot for sharing this with all of us you really know what you’re talking about! Bookmarked. Please also visit my web site =). We could have a link exchange arrangement between us!

  4. Hiya, I’m really glad I’ve found this information. Nowadays bloggers publish only about gossips and net and this is actually annoying. A good site with exciting content, this is what I need. Thanks for keeping this site, I will be visiting it. Do you do newsletters? Cant find it.

  5. I’m impressed, I have to say. Really rarely do I encounter a weblog that’s each educative and entertaining, and let me inform you, you might have hit the nail on the head. Your idea is outstanding; the difficulty is one thing that not enough people are speaking intelligently about. I’m very comfortable that I stumbled across this in my search for one thing regarding this.

  6. A lot of thanks for every one of your work on this web page. Gloria enjoys doing internet research and it is easy to see why. My spouse and i hear all regarding the compelling medium you present very useful thoughts through your web blog and as well as encourage response from the others on this concept and our own child is without question becoming educated a whole lot. Take pleasure in the rest of the new year. You’re carrying out a brilliant job.

  7. I really like your writing style, superb information, thank you for putting up :D. “Your central self is totally untouched By grief, confusion, desperation.” by Vernon Howard.

  8. Wonderful blog you have here but I was curious if you knew of any discussion boards that cover the same topics discussed in this article? I’d really like to be a part of group where I can get responses from other experienced individuals that share the same interest. If you have any suggestions, please let me know. Cheers!

  9. Thank you for another informative website. Where else could I get that kind of information written in such an ideal way? I’ve a project that I am just now working on, and I have been on the look out for such info.

  10. There are some interesting cut-off dates in this article but I don’t know if I see all of them center to heart. There is some validity however I will take maintain opinion until I look into it further. Good article , thanks and we want more! Added to FeedBurner as nicely

Leave a Reply

Your email address will not be published.