According to the National Skill Development Corporation (NSDC), there are over 700 million people of working age in India, out of which only 4.3 million are considered skilled employees.
“A young population is an asset only if it is educated, skilled and finds productive employment,” noted Indian Prime Minister, Manmohan Singh. “If this were to happen, our objective of realising India’s potential to grow at 10% or more per annum for substantial period of time can become a reality.”
Echoing the Prime Minister’s point are many employers. Accordingly to a McKinsey study, approximately 53% of Indian employers note that skills deficiencies are a major reason for the entry-level vacancies.
As a result of the growing prominence of skills development issues in India, NSDC and [email protected] – with managing partner support from Ennovent – have once again organised the Power to Empower Challenge (P2E 2013).
Now in its third year, P2E aims to identify, select and reward the best solutions bridging the gap between the supply and demand of skilled labour in India. This dynamic challenge encourages students, entrepreneurs and beyond to take advantage of the opportunities in the skills development sector.
In 2012 Elements Akademia, championed by entrepreneur Nishant Saxena, was the winner of P2E. The aim of this exciting enterprise is to bridge the gap between academic teaching and corporate needs, thus making the youth employable.
This year P2E has two categories for which applications will be accepted, starting September 16, 2013.
The first category is ‘Operations’, for ideas which are being executed on the ground. The second category is ‘Idea’, for ideas related to skills development, which are just ‘on paper’ at the current time. Each category will have one winner and three finalists.
Importantly, this year P2E will offer many exciting benefits to the winners and finalists. Both will receive national visibility, which will include online and media promotion, for their initiative or idea. In addition, winners and finalists will have extensive networking and capacity building opportunities with business service providers, investors and sector experts.
While the Indian government is undoubtedly taking steps to improve skills development for India’s future, additional support is required to ensure widespread impact. The 2013 P2E challenge is an important part of this – and looks forward to celebrating the work of entrepreneurs, students and others promoting skills development for India’s long-term growth.
Join the conversations using #P2E2013