While typical technical training institutes take about a year to upskill workers, Ankur Capital and Michael & Susan Dell Foundation-funded Skillveri has designed training simulators which can help welders pick up the skills within two or three weeks. With its R&D efforts focused on developing more such simulators in related fields, the founders are keen on taping India’s manufacturing sector with the hope that they can skill at least one lakh people for the 90 million jobs expected to be created in the next five years
As India gears up for ‘Make in India’, the need to upskill more workers to meet the increased demand has become mandatory. However, leading technical training institutes in India still run on outdated curriculum, and we still don’t have enough skilled workers for key manufacturing jobs.
Realizing this need-gap, in 2009-10, entrepreneur Kannan Lakshminarayanan approached his marketing head, Sabarinath C to find ways to tackle it. Sabarinath, during his research, realized that it was a specialized skill and India was hiring labor from China and Peru to meet its needs during metro construction. Meanwhile, Kannan, had even attempted to develop a prototype training module that was expensive and hence, had to be shelved.
By now, Sabarinath’s enthusiasm for this space grew, and he went on to identify people who were willing to develop a solution at a lower cost. Kannan, who eventually became his business partner, invited Sabarinath to use his existing business to start this new product line to avoid delays caused by formalities associated with registering a company. In 2012, the two were able to demonstrate the prototype to the welding community and assess its viability.
The existing training by ITI takes a year; typically, too long a period for young men who need to support their families. The tutorial from Skillveri, as the duo’s Chennai-based startup is called, can skill a welder for the job in two to three weeks.
Going to Market
The automotive industry was interested in the simulation-based training module, and by January 2014, the company started getting orders from customers who had experienced a trial version. Seeing the effectiveness of the product, customers also requested for a similar module for spray painting. However, Skillveri was bootstrapped at the time, and it needed the sales to strengthen its welding training module and build that market.
Diese Geschichte stammt aus der January - February 2018-Ausgabe von The SmartCEO.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der January - February 2018-Ausgabe von The SmartCEO.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Filling In Two Cheque Books
Roopa Kudva nearly celebrated a silver jubilee at CRISIL before she assumed her role as the leader of impact investment firm, Omidyar Network India. At Omidyar, parallel efforts to invest in impact-driven ventures in both not-for-profit and for-profit companies is at the core of its investment philosophy.In this chat with The Smart CEO, Roopa touches upon Omidyar’s strategy to pick and choose the right companies to bet on, alongside the factors that have contributed towards making her an impactful leader
Are You Listening To Your Machines?
Augury Systems envisions taking predictive maintenance from large, niche market players to lower end markets by offering it as a SaaS-based solution. The company has developed two solutions, Auguscope Portable Diagnostics, and Halo Continuous Diagnostics, to diagnose machines based on the sounds they make.
Building A Bootstrapped Ed-Tech Venture
The founders of Edureka had a simple thought while setting up the company: Find the right teacher, and any course will automatically be effective.
Insurance for the Digital Age
Accel & SAIF-backed Coverfox is making deft moves at keeping its platform digital-ready for the Millennial generation. It’s success strategies? Simplicity of product and platform which result in speedy navigation & transactions, and a paced foray into commercial car insurance for the Ubers & Olas of India.
Differentiating In The Cluttered World Of Fashion E-Commerce
UK-based online fashion brand, Koovs, wants to stand out amidst the ecommerce crowd by offering affordable western fashion sensibilities. The company’s CEO, Mary Turner, is clear that she’d have done well, if she occupies even 10 per cent of the Indian fashion ecommerce market, within a few years.
A Peek Into Chaayos' Strategy
Nitin Saluja and Raghav Verma, the founders of Tiger Global-backed Chaayos, give us a glimpse into their strategy and why attention to the finer nuances of operations is at the centre of their efforts
It's A Mom's World
Founding Years’ flagship brand, KLAY Schools, has established over 41 day care centres that function on-site or near work sites in four Indian cities. With a professional management at the helm, the company has created a templatised model that offers seamless service, agnostic of location and geography, making it easier for mothers to get back to work
The IPO Story
The journey of three entrepreneurs from the ideation phase to scaling up and, eventually, a listing in the public markets.
The Idea Issue
5 Rapidly Scaleable Business Ideas for the Entrepreneur in You
Anecdotes From This Investor-turned-entrepreneur
In an interview with Smart CEO, Bala Parthasarathy, serial entrepreneur and investor, takes us through the various stages of his professional life, the lessons he has learnt and unlearnt along the way and his plans for MoneyTap, a consumer credit, fintech startup