India is in a paradoxical situation, where freshers are not getting jobs due to lack of skill set, at the same time there is an ever-increasing number of graduates looking at unemployment.
Hero Group has launched Hero Vired, an EdTech start-up, specifically aimed at students who have already completed schooling. India is in a paradoxical situation, where freshers are not getting jobs due to lack of skill set, at the same time there is an ever-increasing number of graduates looking at unemployment. A $10 million investment in Hero Vired has come from Hero Group, the parent company.
As per Prequin, a data, analytics, and insights company, India has trailed behind China and the U.S. significantly with respect to the amount of venture capital money invested in start-ups. The total value of deals in India during 2020 was $11.8 billion, which is way less than n U.S and China, which have raised $143 billion and $83 billion respectively. A Credit Suisse Group AG report recently found there are close to 100 unicorns in India with a cumulative market value of $240 billion, in sectors ranging from logistics to e-commerce and fintech, to education and food delivery.
India is at a stage of unprecedented innovation and enterprise. While many businesses have been negatively impacted due to Covid 19, EdTech continues to boom.
Source: Business World
