TalentSprint, an emerging leader in professional skills development for knowledge sectors such as IT and BFSI, has received a strategic investment from the National Skill Development Corporation (NSDC), a public‐private partnership company set up under the aegis of Ministry of Finance. The announcement was made at the launch of TalentSprint’s Advanced Learning Center in Chennai in the presence of M.V. Subbiah, Chairman of National Skill Development Corporation, and N. Ram, Editor‐in‐Chief, The Hindu.
In a short span of two years, TalentSprint has several achievements under its belt. It has successfully skilled over 1,200 unemployed college graduates in technology, domain and business communications enabling them to get their first job at salaries ranging from ` 1.5 to ` 3.2 lacs per annum. Leveraging its deep industry relationships, the company has built a strong partnership base of over 40 companies. TalentSprint has also started its first Remote Learning Center in Anantapur, Andhra Pradesh to serve the cause of social inclusion, where trainees from rural backgrounds are participating in its flagship Software Testing Foundation Program through a virtual classroom.
The National Skill Development Corporation aims to fulfill the growing need in India for skilled manpower across sectors and to narrow the existing gap between the demand and supply of skills. Speaking on the occasion, M.V. Subbiah, Chairman of NSDC, said, “NSDC was formed with the objective of contributing about 30% to the overall target of skilling and upskilling 500 million people in India by 2022 mainly by fostering private sector skill development initiatives and providing viability gap funding. When assessing companies to partner with, we look for business models that can enable large scale skill development and promote employability. We believe that TalentSprint’s exceptional team and technology-based approach targeted at knowledge-intensive sectors such as IT and BFSI will enhance employability for a vast majority of the nation’s college graduates who are considered unemployable by industry.”
Speaking on the occasion, Dr. Santanu Paul, CEO and Managing Director, TalentSprint, said “We are delighted to welcome NSDC as a strategic investor and partner in our professional skill development mission. This is a very significant milestone for our young firm and reflects favorably on the creativity and commitment of our team. Under this agreement, NSDC will take a 6% stake in TalentSprint and extend a ` 10 crore loan facility that will allow us to skill 500,000 professionals over the next 10 years, throughthe innovative deployment of technology, digital content and experiential learning methods. It will allow us to take our offerings to semi-urban and rural youth, giving them access to well-paying jobs in growth sectors of the Indian economy such as IT and BFSI, both of which are starved for good talent.”
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