ACADBOT Narrowing the gap between industry and talent By using AR
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ACADBOT Narrowing the gap between industry and talent By using AR & VR solutions
Problem DEGREE V/S JOB BOOMING CORE INDUSTRY India produces 15 lakh engineering graduates every year, but only 2.5 lakh of them succeed in getting jobs in the core engineering industry* National Manufacturing Policy which aims to increase the share of manufacturing in GDP to 25 percent by 2025 LOW EMPLOYABILITY SKILL GAP Employability of engineering graduates in India in the year 2022 was just 55.15%** In 2020, Indian companies had identified skill gaps as their greatest barrier, representing 34 percent of the challenges they experienced*** *According to a survey by NASSCOM in 2019 **Statistica report, 2022 ***Report by 2020 Observer Research Foundation
Solution FOR INDUSTRY RECRUITMENT PROCESS Creating Skill Assessments with the help of AR/VR technology to increase the effectiveness of recruitment & selection process TRAINING PROCESS Up-skilling & cross-skilling the existing workforce through module based AR/VR learning techniques FOR TALENT MAKING THE TALENT EMPLOYABLE With the help of AR/VR technology training the learners in industry specific skills HANDS-ON-EXPERIENCE Giving the industry experience to the learners by aligning them on their core engineering industrial projects through internships, live-projects, Industry specific case studies & challenges
Business Flow-sheet Market Entry Product Launch To narrow the gap between Industry and Talent through our VR / AR technology based product To beta test the product in order to improvise as per the ongoing market trends and requirements for the Industries as well as Talent 04 Integration in VR / AR 03 Creation of Virtual & Augmented reality based technology for modules designed for specific skillsets and Industries Training & Assessment Modules To develop the industry specific modules which can help in creation of virtual / augmented reality for training and assessments 02 01
Unique Selling Point Differentiation Disrupting the traditional methods Disrupting the traditional methodology of Recruitment and Training by infusing tech based assessment and development Training & development We believe in Hands-on up-skilling rather than Marks-on, this will be the major differentiating factor that will help us to stand out from our competitors. Reducing the Industry attrition Narrowing the Industry-Talent skill gap and reducing the early attrition rate for the core job roles Modules integrated technology Real world application based modules as a technology solution in the form of AR / VR
Market Potential With a median age of 28.7 years, India has over 2.14 million STEM graduates and is a hub to one of the largest workforce. Even with such high stats, only 55% of the graduates in India are employable across various industries. Industries have reported high attrition rates of 20.3% **** supplemented by a talent shortage of 83%. These numbers clearly show a widened gap between the available talent and industry. Although large amount of Indian youth (approx. 88%) wishes to be employed in various industries but only 48.7% has been found to be employable. These significant numbers make us look at the huge market potential objectively and we wish to narrow this gap. *According to NASSCOM’s India’s Tech Industry Talent: Demand-Supply Analysis **According to Manpower group 2022 GLOBAL TALENT SHORTAGE Survey Report ***Citied in India Skill Report 2022 released by CII ****According to latest survey by Aon Plc conducted for first half of 2022 Rich Talent Pool With 2.14 M Annual STEM Graduate Supply, India is ranked 2nd globally next only to China* Talent Shortage India reported 83% of Talent shortages around industries with global talent shortage for manufacturing industry being 76%** Employable V/s Desired to be Employed WNET’s survey test discovered that only 48.7% of participating Indian youth was employable while 88.42% of the candidates expressed their desire to land an internship to jumpstart career***