Many a times lack of funds play truant in the development of any field and if it is education this really hurts. But this won’t be a spoil sport anymore for higher education. The Central Government has decided to aid 7 top rated Indian Institutes of Technology (IITs) of India with a handsome amount of Rs.100 crore for each in the next financial year.
This will help them to enhance their quality portfolio and add more plus to their international rankings. It can be through collaboration at international level or inviting highly talented international faculty to enrich the students here. There can be some other requirements too which can be instrumental in improvisation of the institute, said an unnamed senior official. The IITs that have been picked for this aid are IIT Madras, IIT Mumbai, IIT Kanpur, IIT Delhi, IIT Kharagpur, IIT Roorkee and IIT Guwahati.
A move to improve their international ranking
Matters to come under consideration, would be filling 20 per cent vacancies with foreign faculty, allow off campus PhD students, 20% international students at undergraduate and postgraduate level, a 1:7 faculty-student ratio and separate capital grants for world class infrastructure.
Exclusive efforts would be put in to know about the Indian research students in the top 100 institutions of the world, at least 10% of the total research projects would be jointly conducted in collaboration with foreign universities in the world’s top 100 bracket. Academic leaders who are into teaching in these highly rated universities will be forwarded a request to accept the post of a Distinguished International Professor (DIP). They will responsible for teaching a semester in the IIT for the next 3 years. Atleast 20% of all M Tech, PhD students shall be offered as supernumerary positions for foreign students.
Presently, more efforts are being put to conduct GATE exam at international locations and GRE scores should be taken into consideration for admission. All these students shall be paid fellowships as the Indian students. The post-Doctoral students would now ibe between 600-750 range, there will be at least one Post Doctoral Scholar for every 4 PhD students. At least 1/3 rd of the students shall be Ph.D. students. Off campus PhDs would be offered to the best B Tech students from IITs who have earned themselves jobs within India in core subject areas.
Slew of buyouts in education technology space
A recent wave of consolidation in the education technology business could result in companies with the size and scale required to tap the opportunity in the space in India.
Varun Aggarwal is hunting for companies that can help his firm scale up operation and provide more solutions in the education and jobs assessment space. He is the co-founder of Aspiring Minds that helps students assess their job-readiness and helps find better candidates by using assessment tools.
Aspiring Minds acquired two firms in past 18 months:
–one that helps students find internships
–another in the jobs and skills assessment space
“We are on the lookout for firms that can help our business,” said Aggarwal. Ed-tech, as it is called, is older than new flavours fin-tech and food-tech, but it has flattered, only to deceive.
THE WAVE IS TIDING UP
1. In July, ed-tech start-up Byju’s (Think and Learn Pvt. Ltd) acquired Pearson Plc’s TutorVista and Edurite for an undisclosed amount. It was a bid aimed at expanding its global reach and offerings for students.
2. Kota-based test prep firm Career Point said in June it would buy online test-prep firm Plancess EduSolutions.
3. Online competitive exam and tuition start-up toppr.com in 2016 acquired Manch
4. Careers 360 (education technology firm )has already acquired two companies
1. Such activity is good for the eductaion sector as a whole
2. If somebody has developed a solution and is buyable, buy it for the betterment in education sector
Investors poured in $517 million across 231 deals in ed-tech sector since 2014, according to Tracxn Technologies, a start-ups tracker. The ed-tech space raised funds worth $101.7 million in 2014, $126.4 million in 2015, $186.1 million in 2016 and $103.4 million so far in 2017, Tracxn data showed.
Seed Funding For Online Education Start-Up Leverage Edu
Give and take phenomenon was yet again witnessed. Leverage Edu of New Delhi, an online platform which offers students higher education services through its website leverageedu.com was seed funded by potential investors for strengthening its team and development of the product. However quantum of the amount was not disclosed. It is move to tap in the market that search giant Google and consultancy firm KPMG estimate will grow almost eight times to hit $1.96 billion by 2021.
The investors who made it possible were Kashyap Deorah, founder of HyperTrack; VRL Logistics Managing Director Anand Sankeshwar; Sadashiva NT, former Chief Financial Officer of Babajobs; and Arjun Mehta, former CFO at American Express India, among others.
It’ll Be Used For Development Of Education
Founded in April, 2017, Leverage is led by Akshay Chaturvedi and Rajiv Ganjoo. Chaturvedi, an alumnus of Indian School of Business, was earlier a Senior Executive at recruitments portal Babajobs. This also includes stints at CL Educate and Veritas. It incorporates machine learning to aid students to be at par with 2500 colleges and 100 experts procedure, offer college admissions and finance services, which include help in creating profiles for universities, writing research papers, filing patents and dedicated counseling through experts. It aids students to be at par with 2500 colleges and 100 experts. To universities, Leverage offers UnivGateway, a Saas-based (software-as-a service) tool to help them admit the right students.
“As per the official statement of Leverage Edu which is in the same segment as that of Careers360, their machine intelligence and a well organized team of experts guide the students in choosing the right, and avoid the selection of inexperienced traditional options, many times family members,” said Chaturvedi. This software of Leverage will provide help to aspiring student work on her applications, get on-demand mentoring, access to education loans and foreign exchange, living, and much more.”
AI Won’t Take Away All Artificial Jobs says Vikram Jeet Singh
KPMG VP announces At IIM Rohtak Summit
Allaying fears that Artificial Intelligence (AI) would replace humans from all jobs, Mr. Vikram Jeet Singh, Vice President, KPMG, said, “Robotic Process Automation (RPA) is happening, there is no denying that. However, the robots can only do the recreative jobs without tiring. That will allow humans to focus more on value creation. Artificial Intelligence, for sure, is not going to take away all jobs”.
Mr. Singh was addressing the students of Indian Institute of Management (IIM) Rohtak at a management summit.
He continued his assertion saying “Managers should focus on the core business and build the services around them. Uber’s core business is not aggregating cars but transporting a person from place A to B.
‘Crossroads: Paradox of Choice’
The theme of the summit was ‘Crossroads: Paradox of Choice’. It was an attempt to counter the idea that having too many choices is a good thing. The summit was attended by dignitaries from various industry sectors as well as the media.
Director, IIM Rohtak, Dr. Dheeraj Sharma said, “The purpose of the summit is to facilitate increased interaction between the academia and the industry. This will help in bringing the curriculum in sync with the industry needs.” He also celebrated the fact that IIM Rohtak is one of the few new IIMs that has ensured a cent percent placement record since its inception in 2009.
The big-wigs at the Summit
Mr. Deepak Jindal, DGM, HCL, Mr. Pankaj Sharma, President and Chief Risk Officer at Religare, Mr. Rajat Mathur, Director of strategy and operations at Deloitte, Mr. Vivek Ohri, Senior Principal with Accenture Consulting and Mr. Fela Chawngthu, Sales and Marketing leader at Adobe were among the top dignitaries present at the summit.
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