Promoting Vocational Education through a Special Purpose Vehicle with Goverment of Jharkhand

PanIIT was nominated as strategic non-profit joint venture partner with the Government of Jharkhand for a special purpose vehicle (SPV) in Skill development and Livelihood creation for Market driven self-sustainable training.

MEMBER ENGAGED

DESIRED OUTCOMES

Train and place 7500-10000 per annum youth from underpriviledged section of society in blue-collared jobs

To shift to the current ITI system to a market-based paradigm for both students and employers

To expand the current SPV model to other states for scale-up



COLLABORATION OPPORTUNITIES

To be part of a network and platform of corporates that provides job placements for candidates seeking employment with employment opportunities based on demands of the industry

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On a voluntary basis, provide resources from academic institutions for content curation and certification

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Connect to social investors and other philanthropists for support and resources to achieve scale and forge  institutionalised partnerships

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BACKGROUND AND DETAILS

PanIIT Alumni Reach For India Foundation is promoted by Pan-IITian alumni and headquartered in IIT Bombay. With its successful body of work to showcase, the organization has a good overall public perception .The same is backed by awards- recognitions and milestones:

  • NSDC award as most promising partner in 2014
  • Loan-based gurukul model featured by NABARD -Swiss Development Corporation
  • Only organization in Skills, Vocational Education and Livelihoods that has been nominated for non-profit SPV with state government
  • Featured in National Geographic in a case study on 5 skill development institutions creating social impact



PARTNERS ENGAGED

  1. Government of Jharkhand: Special purpose vehicle with Fundamental alignment of mission-level objectives of development of the local citizenry through vocational Education & Job linkage that leads to political mileage as well
  2. National Bank for Agriculture and Rural Development (NABARD): Revolving fund assistance partner facilitating skill loans to beneficiaries
  3. National Skills Development Corporation (NSDC): Debt funding partner
  4. Confederation of Indian Industry (CII): Employment linkages partner


IMPLEMENTATION PLAN

March 2020

  • Achieving  a  milestone  of  training  and  placing  7500-10000  candidate per  annum  in  a  good  quality,  wellpaid,  with  good  work  conditions  blue-collared  jobs

June 2020

  • Starting  with  6  ITI  Kaushal  colleges  in  Nursing,  Manufacturing  and  Commis  Chef  sector

March 2021

  • Entering into  an  SPV  with  a less developed state  of  the  country  to institutionalise its development




Initiative Lead
Kalyan Chakravarthy Executive Director PanIIT Alumni Reach For India foundation

PanIIT Alumni Reach For India Foundation or PanIIT Foundation is a section 25 company registered in India. PanIIT Foundation is committed to the goal of empowering the disadvantaged youth by implementing & scaling self sustainable models that enhance incomes of the underprivileged. PanIIT Foundation aims to bridge the gap between…

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