Financial Daily from THE HINDU group of publications
Monday, May 15, 2006
Financial Daily from THE HINDU group of publications Monday, May 15, 2006 |
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Info-Tech
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IT Training 24x7 Learning to tie up with engg colleges V. Rishi Kumar
Hyderabad , May 14 24x7 Learning Solutions, a learning management technology company, is on an expansion drive, and is poised to tap overseas market while laying thrust on the finishing school concept for engineering students. It has created a separate Academic Solutions Group to serve as a finishing school for engineering graduates and is eyeing overseas markets by establishing an Overseas Solutions Group. The Founder and Chief Executive Officer of 24x7 learning, Mr K.S. Karthik, told Business Line that the company has committed investment of about $10 million in its expansion and the creation of these services groups is aimed at tapping new segments.
Overseas market
"Since inception, the company's focus was on the domestic market. In about four years, we have grown to revenues of $5 million and see huge potential for expansion not only in the domestic market but also overseas. We would target enterprises in the US and Europe with our leaning management solutions," he said. Citing the Nasscom-McKinsey report that has predicated a demand-supply mismatch of about 5,00,000 engineers by the year 2009, Mr Karthik said "the company is planning to train about 25,000 students in the first year by partnering about 100 engineering colleges. These would be tier-II colleges as tier- I colleges would not require our support."
Growing demand
As the demand for skilled employable graduates goes up, recruiters will find the going tough as barely 7 per cent of graduates and 5 per cent of engineering students are employable research studies point out. By partnering with tier II and III colleges, we would help them groom students with a six months of additional training that would not only hone up technology skills but also soft skills, which is key to recruiters. The market for eLearning and learning management solutions is estimated at about $23 billion and is growing at a steady pace. Companies such as Wipro, Patni and L&T Infotech located in a distributed environment are seeking ways to train their workforce. This serves as a mini enterprise resource planning system for learning within a company.
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