Michael & Susan Dell Foundation presented some key insights from its recent research study at the 6th Annual edition of India Education Entrepreneurship Day (IEED) 2019 hosted by TiE Delhi-NCR in New Delhi today. IEED brings together, the innovators in the education sector. The report was focused on unlocking solutions to improve employment prospects for the Indian youth.
Addressing some of the major concerns in the current employment landscape, the discussion was initiated by Rahil Rangwala, Program Director, Michael & Susan Dell Foundation in the session Busting Myths in Skilling and Jobs Ecosystem. “Through this report, our objective at MSDF is to bring some of the pressing challenges in the Indian education and employment ecosystem to the notice of policy-makers, market participants, and other key stakeholders,” he said.
Sabina Dewan, President & Executive Director, Just Jobs Network, presented the findings while dissecting five most common myths prevalent in the jobs ecosystem. She highlighted that most people believe that over 12 million people enter the labour force in India every year while the data shows actual numbers to be less than 5 million; and the youth unemployment rate emerged to be three times that of the overall unemployment. Further, nearly 56% of the respondents asserted that their education and/or vocational training was inadequate to improve their prospects of landing a better, high-value job.
Speaking on this issue, Sabina said, “Most people believe that obtaining a three-month-long training or skilling session will compensate for years of education and experience. This is preposterous. Education and skill development need to be considered in a continuum.”
While moderating a panel of jobs and livelihood companies, Rahil Rangwala, added, “Tech platforms and the gig economy are disrupting the Indian market and these changes are here to stay. There are many exciting opportunities that, if executed correctly, can help us address the inequalities that we have gotten used to. Michael & Susan Dell Foundation has invested in many such companies – WorkEx, Blowhorn, Awign.”
Other panels at the event featured conversations on a range of topics such as the impact of social for profit business model in the education sector, role of tech platforms in driving transformations in the jobs ecosystem, emerging business models trends, and challenges in edtech, navigating edtech challenges in higher education, etc.
Speaking at the event, Geetika Dayal, Executive Director – TiE Delhi-NCR, commented, “TiE’s mission has always been to gather major ecosystem stakeholders under one roof with the overarching aim of driving the country towards a progressive future. We are pleased to collaborate with Michael & Susan Dell Foundation as our knowledge partner for adding value of our joint mission. The research will empower the government as well as the industry bodies to fulfill job-related aspirations of the young, employable workforce in India.”