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Digital India goes a Step Ahead with ‘Fund and Reform’ App

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Now an App to track Educational funding, progress of projects

Yes you read it right, the HRD Ministry has launched a ‘Fund and Reform’ App. Higher education stakeholders and institutional leaders will now be able to track the progress of projects under Rashtriya Uchchatar Shiksha Abhiyan (RUSA). Whatmore?! The Ministry has also signed a MoU with the Indian Space Research Organisation (ISRO) for geo-tracking of the RUSA projects.

RUSA is a centrally-sponsored scheme (CSS) of HRD Ministry. It is aimed at providing central funding to state higher education departments and institutions. This helps them achieve the broad objectives of access, equity and excellence.

The App or the interface would be available for the central government, the state higher education stakeholders and institutional leaders, apart from thousands of vendors across India.

Fund and Reform App

HRD Minister’s Statement

“To re-imagine our classrooms, be in sync with time and technology and engage stakeholders in constant conversation to do and achieve more, is the aim of this application besides being sort of a report card of states with details of their higher education policies, plans and best practices. Each vendor will get a varied level of access to the app depending on their role and functionality, ” Union HRD Minister Prakash Javadekar informed at the launch.

 

Highlights of the App

 

  • Will capture the fund allocation as per the Project Approval Board, the instalment-wise fund release by the Centre and the state, the institution-wise key project, vendors appointed and the payment made to them as also stage- wise photos and time stamps of payments made and comments entered

 

  • Every initiative will be tagged with a unique ID number. This will provide the entire story of how an idea germinated and matured.

 

  • Dashboard will give an overall picture of the scheme and the state-wise performance of the impact that the programme has made

Business

Slew of buyouts in education technology space 

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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

 

THE BENEFITS

Experts believe…

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.

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Business

Seed Funding For Online Education Start-Up Leverage Edu

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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.”

 

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Business

NIIT to Deliver Next Gen Digital Transformation Courses

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NIIT Limited (National Institute of Information Technology), an institute of great repute and a global leader in skills and talent is all set to offer Next Gen courses in Digital Transformation to the Universities in India. NIIT will introduce its globally aapproved proprietary NIC (NIIT Inside Campus) model in universities and colleges across India.

After strategic tie-ups with premier institutions, NIIT will be offering futuristic programs in MEAN Stack, Big Data & Data Sciences Stack, Design Thinking, Cloud Stack, Internet of Things (IOT) Stack, Artificial Intelligence and Machine Learning, Robotics and Virtual Reality and Cyber-Security.

Though India is highly valued for education in the global scenario but its education sector is stung with the issues of quality, consistency and employability.  As per the All India Council for Technical Education more than 60% of the engineers graduating from technical institutes across India are unable to find themselves a job.

 

NIIT

Indian Universities To Be Enriched With Next Gen Courses

 

‘NIIT Inside’, a globally successful on-campus, customized education delivery model that is integrated with the institution’s bachelor degree programs, wishes to reduce the gap. It is instrumental in helping higher education institutions and universities to keep pace with changes in the global and local IT industry, and equip its students with the latest, in-demand skills that make them relevant in today’s work scenario.

Elaborating on the strategic move, Rahul Patwardhan, Chief Executive Officer, NIIT Ltd., said it is not only India who is into it but the whole world is after Digital Transformation and ‘go Digital’ has become the voice for those who want to make an impact and thrive in the emerging Digital age. This will be worked with other institutions across India.

Sanjay Tickoo, Head, Emerging Markets & NIIT Inside Business in India, NIIT Ltd., mentioned it as a very effective move for a close knit collaboration with higher education institutions to promote the industry-academia interface by offering cutting-edge programs in Big Data, Java Enterprise Apps with DevOps and more to help create a talent pool aligned to the industry needs.”

 

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