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In India, engineering is one of the most popular domains. Nevertheless, professionals have poor prospects of employment in the knowledge economy. These top five startups are gradually turning into career incubators.
The Problem With the Engineering Job Market
The number of engineers is growing, but the market is already saturated. Given such unfavourable conditions, startups that accelerate their careers are essential. The Indian engineering ecosystem is affected by a lack of skills in the talent pool.
Estimates provided by the HRD Ministry show that over 1.5 million Indian students complete engineering courses annually. However, only some of them have any guarantee of employment. According to the National Employability Report Engineers, 2019, a fifth of graduates are employable in the knowledge economy.
The lack of opportunities is not limited to the engineering segment. In 2020, due to lockdowns, many Indian residents have started searching for alternative career paths. For example, the volume of Forex trading has been surging. As online stock trading in India is so easily accessible through Forextime, residents with basic knowledge of finance can turn it into a source of steady income.
The ongoing switch to automation is disruptive. Engineering, once a popular career choice, is now a market with very few opportunities. So, how can startups help? Here are five successful platforms.
1. Newton School
This edtech platform became the Best Online Skill Provider of the year 2020. It welcomes aspirants who want to build a career in software development. Their educational background does not matter. Everybody gets equal chances of getting into Tier-l companies.
Moreover, no money is charged upfront. Participating students only pay once they are offered over 6 LPA. The platform is growing fast, and its mission is praiseworthy — it aims to turn India into an international developer powerhouse. The concept democratizes training in software development. Applicants may overcome typical barriers, both geographic and financial.
2. Skill Lync
This educational startup focuses on providing members with jobs. It offers a range of courses that develop necessary skills in the domain of mechanical engineering. At the moment, the courses are provided on a flat-fee basis, and students may pay in instalments.
Based in Chennai, Skill Lync can even provide you access to a Hybrid Electric Vehicle programme! Importantly, if one fails to get a job after completion, they are eligible for a refund. It is hardly surprising that the startup has been included in one of the most popular startup accelerators — the Y Combinator in the USA.
3. Carrom School
Aspirants turn to this school for tutoring and mentorship. It allows software engineers to switch career paths and become remote developers. The company’s signature course is flexible and well-designed. Students enhance their skills in different areas, including communication and web development. This helps them find a remote job in a stable company with generous compensation and perks.
The school aims to provide equal opportunities in India and other developing countries. The course is entirely remote. There is no upfront charge — students pay provided they receive a job offer within half a year after completion. The compensation must be over 12 LP.
Based in Mumbai, this incubator aims to improve employability in the technology sector. In this vibrant lab environment, young engineers in search of high-paid jobs can co-found startups or get accepted by tech companies for free.
Through its Maker Program, this incubator helps Indian engineers become more employable. It connects tech companies to custom-trained specialists based on their needs. It is the first organization of this kind to guarantee job placement after completion of training in emerging technologies.
One of the biggest learning platforms in India, Unacademy has already provided education to over 300,000 students. Today, it features more than 2,400 lessons and courses, all available online. Some of them are taught by famous educators like Kiran Bedi.
Every month, the platform registers over 2 million views. It has helped thousands of students from different parts of the country, including its remotest corners, to get better at what they do. They have been able to pass tough examinations, improve their knowledge, as well as speaking and writing skills.
The engineering market in India is saturated, but incubators help experts develop employability in the eyes of tech giants. Today, professional success does not only rely on intelligence and knowledge. Talented engineers need strong work ethics, interpersonal communication, and emotional intelligence. Incubators recognize this gap and allow their students to develop interpersonal skills along with tech competence.