Reliance Industries, TCS, ONGC, Infosys Among 111 Firms On Board Government’s Internship Scheme

News

By

-

October 7, 2024

The government’s new internship scheme, which aims to provide youth with opportunities in top Indian firms, has garnered interest from 111 major companies, including Reliance Industries, TCS, HDFC Bank, ONGC, Infosys, and more. The initiative, announced in the Union Budget for FY25, is set to offer internships to 1.25 lakh youth in its first year, with a long-term goal of training 10 million over the next five years.

As per official sources, the scheme reserves 50% of its internships for candidates from SC, ST, and OBC communities, mirroring the reservation system in government jobs. It is designed to enhance employability by offering internships with India’s leading companies.

The participating companies have made 1,077 internship offers on the Ministry of Corporate Affairs (MCA) portal, which will open for applications on October 12. The virtual training of company executives who will mentor the interns has also commenced, as the government officially rolled out the scheme on a pilot basis last week.

The program targets the top 500 companies based on their average Corporate Social Responsibility (CSR) spending over the past three years. Companies’ voluntary participation is expected to give youth an edge by increasing their exposure to potential employers.

12-month training period from December 2nd

Internships will officially begin on December 2, with a 12-month training period. If the top 500 partner companies are unable to offer the required internships, they may collaborate with their suppliers or vendors to fulfill the target, while still overseeing the program’s implementation.

Eligibility criteria

Eligible candidates must have completed Grade 10 and be between 21-24 years of age. However, graduates from premier institutions like IITs and IIMs, as well as professionals with qualifications such as CA, CMA, MBBS, and MBA, will not be eligible. Candidates with family incomes exceeding ₹8 lakh or those with family members working as permanent government employees are also excluded from applying.

How to apply

The application process involves candidates registering on the MCA portal, where a shortlist of applicants will be automatically generated based on profiles and preferences. Participating companies will then review and select candidates from this list.

Financial support and benefits

The scheme also provides financial support to interns, who will receive ₹5,000 per month, with ₹4,500 coming from the government and ₹500 from the participating companies’ CSR funds. Interns will also receive a one-time grant of ₹6,000 for incidental expenses. The training costs will be borne by the companies through their CSR funds.

In addition, all interns will receive insurance coverage under government schemes like PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana, with the government paying the premiums. The scheme aims to promote inclusivity, especially through its 50% reservation for SC/ST/OBC candidates, which has been praised by industry bodies like the Confederation of Indian Industry (CII).

Companies will have a dedicated dashboard on the portal to post internship opportunities and manage applications. Eligible candidates can explore internships based on sectors, roles, and locations, and apply for up to five positions.

With a planned financial outlay of ₹800 crore for FY25, this scheme represents a significant investment in developing India’s future workforce.

Scholarships of Rs 40,000: Jharkhand’s SPKSY Initiative Empowers Girls’ Education and Fights Early Marriage

News

By

digitalLEARNING Network

-

October 4, 2024

In a significant push to support adolescent girls from underprivileged backgrounds, the Jharkhand government’s Savitribai Phule Kishori Samriddhi Yojana (SPKSY) is helping them pursue education and avoid early marriage, officials said. Launched by the Hemant Soren government, the SPKSY has been pivotal in curbing school dropouts, discouraging child marriage, and encouraging higher education for girls, according to state officials.

For families like Laxman Hajam’s, the SPKSY scheme has been life-changing. His daughter, currently in Class 10, dreams of becoming a doctor. “Thanks to the financial assistance, she can continue her studies without worrying about the cost,” Hajam said.

The SPKSY provides a total scholarship of ₹40,000 to adolescent girls, disbursed in six installments. Girls in classes 8 to 12 receive ₹20,000 across five installments, with an additional one-time payment of ₹20,000 when they turn 18 or 19.

Government data shows that around 715,000 girls have enrolled in the scheme for the 2023-24 academic year, with benefits expected to reach 900,000 girls. Speaking at the outreach initiative ‘Apki Yojna, Apki Sarkar, Apke Dwar’ (Your Scheme, Your Government at Your Doorstep), Chief Minister Hemant Soren emphasized that families no longer need to worry about educating their daughters. The scheme, originally restricted to two girls per family, has now been extended to all girls.

Also Read: Dubai’s New Education 33 Strategy Promises 49,000 Affordable Schools, Boosts in Education Tourism

Parents like Dhaneshwari Devi from Ranchi’s Kanke block find the financial support crucial for their daughters’ education. Meanwhile, a Class 11 student from Dhanbad, who hails from a minority community, shared how SPKSY allowed her to avoid an early marriage. “My family had arranged my marriage, but I wanted to continue studying. The scheme is helping me chase my dreams,” she said.

Dubai’s New Education 33 Strategy Promises 49,000 Affordable Schools, Boosts in Education Tourism

News

By

digitalLEARNING Network

-

October 3, 2024

The Knowledge and Human Development Authority (KHDA), Dubai has provided further details on Education 33 (E33), a new strategy aimed at transforming the Emirate’s education system. Speaking at a press conference hosted by the Government of Dubai Media Office, Aisha Miran, Director General of KHDA, said: “Education 33 reflects the forward-thinking vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to equip future generations with the skills, knowledge, and values needed to lead in an evolving global environment. This strategy will reinforce Dubai’s position as a global hub for education and innovation.”

First announced by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, E33 marks a major step in Dubai’s efforts to establish a future-ready education system.

Miran highlighted that the strategy’s objective is to provide every student in Dubai with a world-class education that meets the highest international standards. While being rooted in Emirati values, E33 embraces Dubai’s multicultural diversity, ensuring that heritage and diversity are central to the educational experience.

Moving from traditional to modern ecosystem

The E33 strategy aligns with the Dubai Economic Agenda D33 and the Dubai Social Agenda 33. It shifts from a traditional, institution-centred model to a learner-centred ecosystem, focusing on lifelong education from early childhood to higher education and beyond. The goal is to equip students with the necessary skills and knowledge to thrive in a rapidly changing job market.

E33 is based on five strategic goals and supported by 28 initiatives aimed at transforming education at all levels. The strategy’s targets for 2033 include increasing affordable school seat capacity by 49,000, achieving a 90% satisfaction rate among parents, and adding 3,000 Emirati teachers to Dubai’s workforce. Additionally, it aims to grow education tourism ten-fold and attract prestigious international universities to the city.

Endorsed by Dubai’s leadership, the E33 strategy supports the Dubai Social Agenda’s goal of placing Dubai among the top 10 cities for education by 2033. Miran said, “Through this strategy, we are not just preparing our students for tomorrow—we are empowering them to lead it.”

The five strategic goals include:

Empowering Emirati students with high-quality education
Providing accessible and equitable education,
Engaging educators and parents to promote lifelong learning,
Positioning Dubai as a world-class learning destination, and
Fostering an ecosystem based on research and innovation.

Also Read: Andhra Pradesh Launches First-Ever Skill Census in Mangalagiri

The 28 ‘Game Changer’ initiatives include embedding Emirati culture in education, promoting Arabic as a key language, personalising learning journeys, growing the number of Emirati educators, and elevating vocational training standards.

The E33 strategy was shaped through consultation with more than 290 educational institutions and over 700 participants, including educators, parents, and students, contributing to its comprehensive framework for the future of Dubai’s education system.

Andhra Pradesh Launches First-Ever Skill Census in Mangalagiri

News

By

digitalLEARNING Network

-

October 1, 2024

In a landmark move, Andhra Pradesh has initiated its first-ever skill census, starting in the Mangalagiri Assembly constituency, led by Nara Lokesh, Minister for Education, IT, and Electronics. The goal of this initiative is to map the skills of young people across the region, improving their access to relevant training and boosting employment opportunities.

According to an official statement, the census will cover 100 villages in the Mangalagiri segment, where local village secretariats have already been authorised to log in and begin the process. A team of 675 enumerators will collect data from 161,421 families, including 135,914 families from the Mangalagiri constituency and 25,507 from Thullur mandal.

A specially designed mobile application will be used to streamline the data collection process, and enumerators have undergone extensive training for the task. The initiative is backed by a dedicated technical team and thorough mapping of the area. Officials from the Skill Development Headquarters will oversee the operation, ensuring its smooth execution. “Any issues identified during the pilot phase will be addressed before scaling the project statewide,” added the statement.

Also Read: Kerala Launches ‘Key to Entrance’ Programme for 800,000 Students

This pioneering census, launched by the Chief Minister in June, aims to identify untapped talent among the state’s youth and provide targeted training programs, paving the way for better job prospects and future growth.

Kerala Launches ‘Key to Entrance’ Programme for 800,000 Students

News

By

digitalLEARNING Network

-

September 30, 2024

Kerala has introduced a groundbreaking initiative through the Kerala Infrastructure and Technology for Education (KITE), aiming to provide support for over 800,000 students in government and aided schools as they prepare for various undergraduate entrance exams. Titled ‘Key to Entrance,’ this programme was launched by General Education Minister V Sivankutty to enhance learning opportunities for students across the Science, Humanities, and Commerce streams.

New ‘Key to Entrance’ Programme for Kerala Students

The initiative, part of the state’s commitment to quality education, offers students access to a vast array of learning resources, including question papers, assignments, and mock tests. These materials are available via the official portal www.entrance.kite.kerala.gov.in, providing free login access to higher secondary and vocational students from public schools.

Live Classes and Accessible Learning Materials

Starting from September 30, live classes will be broadcast daily on the KITE VICTERS channel and two PM eVidya channels dedicated to Kerala. Students who miss live broadcasts can access the recordings through the KITE YouTube channel, ensuring flexibility in learning.

Subjects covered include Chemistry, Physics, Botany, Zoology, Mathematics, History, Political Science, Business Studies, English, and Geography, with plans to expand into additional areas over time.

Self-Assessment and Continuous Evaluation

Each class within the ‘Key to Entrance’ programme will feature self-assessment opportunities, enabling students to gauge their understanding and track their progress. Continuous evaluations will also be facilitated through online model exams, ensuring students are prepared for their entrance exams.

Also Read: Vedantu Raises INR 19.25 Crore in Strategic Debt-Equity Mix

State-Wide Support and Implementation

To ensure smooth implementation, the Director of General Education (DGE) has instructed all schools to provide the necessary technical infrastructure for students to participate in the programme effectively. KITE’s Chief Executive Officer, K Anvar Sadath, emphasised that this is Kerala’s largest public entrance exam training system, aiming to reach nearly 8 lakh students.

Sadath also noted the success of the previous ‘Crack the Entrance’ course, which saw impressive results for students preparing for Medical and Engineering entrance exams, setting high expectations for the new programme.

Vedantu Raises INR 19.25 Crore in Strategic Debt-Equity Mix

News

By

digitalLEARNING Network

-

September 30, 2024

Vedantu, one of India’s leading online education platforms, has raised INR 19.25 crore (approximately $2.4 million) in a fresh round of funding, combining debt and equity. This move underscores Vedantu’s strategic approach to navigating the challenges facing the Indian edtech sector while positioning itself for sustainable growth.

Key Highlights of Vedantu’s Funding:

Debt Financing Through NCDs: Vedantu secured INR 17.5 crore via non-convertible debentures (NCDs), a form of debt security offering fixed interest rates for a specified period. This allows the company to access necessary capital without significant dilution of ownership.
Equity Investment: The remaining INR 1.75 crore was raised through equity financing, providing investors with a stake in the company’s future growth. This balanced approach ensures that Vedantu can grow while retaining control over key aspects of its operations.

Vedantu’s Financial Performance and Sector Challenges

Vedantu reported operating revenue of INR 152.5 crore for FY23, marking an 8% drop from INR 166 crore in FY22. The decrease in revenue mirrors the broader difficulties faced by India’s edtech startups, driven by factors such as increasing competition, concerns over student screen time, and ongoing economic challenges.

Strategic Utilization of Funds

Vedantu plans to allocate the newly raised funds to several critical areas:

Course Expansion: The company aims to diversify its course offerings, potentially targeting new subjects and grade levels to serve a broader student base.
Technology Enhancements: Investments in cutting-edge technologies will be made to improve the online learning experience and increase platform efficiency.
Marketing and User Acquisition: Vedantu is likely to ramp up its marketing efforts to attract more students and boost brand visibility across India.

Sustainability at the Core of Vedantu’s Strategy

Vedantu’s decision to raise funds through both debt and equity reflects its commitment to sustainable growth. While debt financing requires repayment with interest, it allows Vedantu to avoid excessive dilution of ownership, a crucial advantage in a highly competitive market. This balanced approach ensures the company maintains a solid financial foundation while pursuing growth initiatives.

Also Read: Google-Backed Adda247 Acquires Placement Platform PrepInsta

The Future of Indian Edtech and Vedantu’s Role

Despite the challenges faced by the Indian edtech sector, including increased competition and economic headwinds, Vedantu’s successful funding round signals a positive outlook for the company and the broader industry. India’s large population, growing internet penetration, and rising disposable incomes create a fertile environment for the continued growth of online education platforms.

As the sector evolves, edtech companies that can innovate and adapt quickly are likely to thrive. Vedantu’s focus on expanding its offerings, improving technology, and enhancing user acquisition puts it in a strong position to lead in this rapidly changing landscape.

Vedantu’s INR 19.25 crore fundraising effort marks an important milestone in the company’s journey. By strategically leveraging both debt and equity, the company is well-positioned to continue its expansion, improve its platform, and reach a broader audience. As India’s edtech industry continues to evolve, Vedantu’s ability to innovate and navigate market challenges will be key to its long-term success.

Google-Backed Adda247 Acquires Placement Platform PrepInsta

News

By

digitalLEARNING Network

-

September 30, 2024

Adda247, a leading Google-backed edtech startup, has announced the acquisition of PrepInsta, a top placement preparation platform. This acquisition aligns with Adda247’s goal of expanding its reach in both public and private sector job education programs. The financial terms of the deal remain undisclosed.

This marks Adda247’s fourth major acquisition, following its buyouts of StudyIQ, a UPSC preparation platform in 2021, Veeksha, a virtual and augmented reality learning modules platform in 2023, and Ekagrata Eduserv, a chartered accountancy (CA) test preparation company, acquired earlier this year.

Expanding Focus to Private Sector Jobs and Skilling

“We had been primarily focused on government jobs until recently when we announced our entry into the skilling and higher education space. Our vision is to become an integrated player in both public and private sector job preparation, helping individuals acquire the necessary skills while working with enterprises to build talent,” said Bimaljeet Singh Bhasin, CEO of Adda247’s skilling and higher education business.

Bhasin emphasised that the company has identified key sectors for its skilling programs, including banking, financial services, insurance, and technology. “Tech is one of the largest employment sectors, and our focus on this area is crucial to our growth as a major player in job-related programs. The acquisition of PrepInsta is a key part of this broader initiative,” he added.

Adda247’s Growth and Offerings

Founded in 2016 by Anil Nagar and Saurabh Bansal, Adda247 has built a strong reputation by offering courses tailored to government job preparation, including state-run banks, government departments, and railways. The platform provides a variety of learning formats, including live online classes, on-demand video courses, mock tests, e-books, and books designed for specific exams. Adda247 offers courses in 12 regional languages, allowing it to reach a wide audience.

The platform currently serves over 40 million monthly users, with 2 million students enrolled in its premium courses. In the 2023-24 fiscal year, the company reported revenue growth of 88%, reaching ₹243.39 crore, while its net loss was reduced by 66% to ₹101 crore.

PrepInsta to Enhance Digital and Tech Skilling Programs

PrepInsta’s co-founder, Atulya Kaushik, believes the acquisition will allow the platform to expand its reach further further. “Adda247’s user base includes a significant number of engineering students and freshers, providing an excellent opportunity to offer tech and digital skilling programs to over 1.2 million paid users,” Kaushik said.

Also Read: IIT Bombay and BITS Pilani Sign MoU to Collaborate on Research, Innovation, and Skill Development.

Future Plans and Investment

Adda247 raised $35 million in a 2022 funding round led by WestBridge Capital with participation from Google and other investors, including Info Edge Ventures and Asha Impact. The company has raised a total of $63 million to date, fueling its growth and expansion into new sectors.

With this acquisition, Adda247 continues to strengthen its position as a leading edtech platform, offering a comprehensive range of job-related education and skilling programs. The integration of PrepInsta will support Adda247’s efforts to bridge the gap between government job preparation and private sector skilling, positioning the company to serve an even broader audience in the future.

IIT Bombay and BITS Pilani Sign MoU to Collaborate on Research, Innovation, and Skill Development

News

By

Chetan Tawakley

-

September 27, 2024

The Indian Institute of Technology (IIT) Bombay and BITS Pilani have recently signed a memorandum of understanding (MoU) to collaborate on research, innovation, and skill development. This agreement will enable both institutions to collaborate on joint research initiatives, share facilities, and engage in external collaborations with industry partners to achieve common objectives.

The MoU aims to establish a framework that encourages academic and industrial cooperation, promotes knowledge sharing, and supports the development of technologies to address societal issues. Key goals of the partnership include conducting joint research projects, offering consultancy services, facilitating student internships, enabling faculty exchanges, and creating advanced technologies.

A major focus of the collaboration will be enhancing knowledge management, driving technological innovation, and upskilling human resources through continuous learning and education. The partnership is intended to bridge the gap between academia and industry, enabling the two institutions to develop solutions to real-world problems while providing valuable opportunities for students and researchers.

Professor Ramgopal Rao, Vice Chancellor of BITS Pilani, highlighted the significance of the agreement, noting that it brings academia and industry closer together. He emphasised that the partnership would provide students with opportunities to thrive in emerging fields such as pharmaceuticals, healthcare, and engineering.

Also Read: Government to Launch Skill Voucher System, Partner with Industry to Modernise 1,000 ITIs

Professor Shireesh Kedare, Director of IIT Bombay, expressed his enthusiasm for the collaboration, stating that it unites the top talent from two of India’s leading institutions. He looks forward to breakthrough research projects that address practical challenges and contribute to the nation’s growth.

This partnership will also open avenues for research collaborations, industry-focused consultancy services, student internship programs, and joint applications for research funding. Both IIT Bombay and BITS Pilani will focus on building a stronger academic-industrial ecosystem by hosting visiting faculty, creating research consortia for emerging technologies, and fostering closer ties between education and industry.

Government to Launch Skill Voucher System, Partner with Industry to Modernise 1,000 ITIs

News

By

Chetan Tawakley

-

September 27, 2024

Atul Kumar Tiwari, secretary at the Ministry of Skill Development and Entrepreneurship, announced that the government will introduce a skill voucher system to enhance India’s skill development landscape during Ficci’s Global Skills Summit 2024. Tiwari emphasised the government’s intent to partner with industries to modernise 1,000 Industrial Training Institutes (ITIs) across the country.

The skill voucher system aims to transform 200 ITIs into hub institutions, with 800 additional institutes serving as spoke facilities. This hub-and-spoke model is a significant part of the government’s larger strategy to upgrade India’s skill development ecosystem, ensuring that vocational training aligns more closely with industry needs. While Tiwari shared details of this ambitious plan, he did not disclose specifics regarding the upcoming skill voucher system, indicating that further announcements would follow soon.

During his speech, Tiwari underscored two major changes reshaping the country’s approach to skill development. The introduction of the National Credit Framework under the National Education Policy now allows students to earn credits for vocational and skill-based education, integrating skilling more directly into mainstream education. Regulations now mandate that up to 50% of the content in degree courses must be skill-based, further emphasising the government’s focus on hands-on, practical learning.

Additionally, efforts are being made to embed skilling within school curricula. Tiwari explained that the curriculum for classes 6 to 12 has been revised to incorporate more application-based learning, ensuring students develop practical skills alongside their academic education. The government is also working on apprenticeship-embedded degree programs, providing a structured way for industries to collaborate with academic institutions and students.

Also Read: UP CM Shares Key School Reforms with Himachal Delegation

Tiwari stressed the need for greater industry, academia, and government cooperation to scale up the country’s skilling efforts. “The government’s intent is very clear,” he said, “that they would like to engage with the industry on different methods so that we can bring the skilling part in line with the industry’s requirements.”

This collaboration between sectors aims to bridge the gap between education and employment, creating a workforce that meets the evolving demands of the economy.

UP CM Shares Key School Reforms with Himachal Delegation

News

By

Chetan Tawakley

-

September 26, 2024

Lucknow: A delegation from Himachal Pradesh’s Education Department, led by Education Minister Rohit Thakur, visited Uttar Pradesh to study the state’s educational initiatives and explore potential collaboration opportunities. The delegation’s goal was to understand ongoing programs in Uttar Pradesh and identify ways the two states could work together to improve education.

During their visit, the team met with Uttar Pradesh Chief Minister Yogi Adityanath in Lucknow. The CM provided an overview of the various educational programs currently being implemented across primary, middle, and secondary schools in Uttar Pradesh. Key initiatives highlighted during the discussion included Operation Kayakalp, the CM Model Composite School Scheme, and Alankar, all designed to enhance the quality of school education in the state.

Also Read: Four Indian MBA Programs Rank in QS Global Top 100

Education Minister Thakur noted that both Himachal Pradesh and Uttar Pradesh face similar challenges in the education sector, particularly with declining enrollment in government schools. He expressed interest in adopting and adapting some of Uttar Pradesh’s initiatives to address these issues in Himachal Pradesh and strengthen cooperation in the education sector.

New ‘Key to Entrance’ Programme for Kerala Students

Live Classes and Accessible Learning Materials

Self-Assessment and Continuous Evaluation

State-Wide Support and Implementation

Key Highlights of Vedantu’s Funding:

Vedantu’s Financial Performance and Sector Challenges

Strategic Utilization of Funds

Sustainability at the Core of Vedantu’s Strategy

The Future of Indian Edtech and Vedantu’s Role

Expanding Focus to Private Sector Jobs and Skilling

Adda247’s Growth and Offerings

PrepInsta to Enhance Digital and Tech Skilling Programs

Future Plans and Investment

LATEST NEWS

Top Trending News

Top Trending Categories