On the occasion of World Youth Skills Day 2020, Wadhwani Foundation calls forempowering the youth with 21st Century Employability Skills

India, 15^th July 2020 - The aim of the World Youth Skills Day is to recognize the strategic importance of equipping young people with skills for employment, decent work and entrepreneurship, and to highlight the crucial role of skilled youth in addressing the current and future employment and underemployment challenges across the globe.

The theme of World Youth Skills 2020i.e. ‘Skills for a Resilient Youth’ is set against the backdrop of the COVID-19 pandemic. The resultant challenges are plenty with a rise in unemployment, digital becoming the new normal and adapting tonew-age learning based on relentless advances in technology like mobile technologies, AI, Machine Learning, green energy, drone technology etc., becoming a must.

According to reports, India is likely to have the world's largest workforce by 2027. Hence, it is important to integratea  skilling program into the curriculum right from the school stage to address the looming fracture in the skills supply chain arising due to the marked disconnect between the academia outputand the industry requirements.This will enable India to meet the aspirations of the youth by preparing them to enter the future workforce.

Soft Skills or employability skills is the buzz in the global skills domain today. The reason is simple. While hard or technical skills can be acquired and taught, soft skills have more to do with character, relationships and personality.Therefore, employers see soft skills as key tointerpersonal relations, fostering employee retention, improving leadership, and building a meaningful culturewithin the organization.

Wadhwani Foundation is focused on empowering the youth with 21^st century employability skills to enable them to command family supporting wages through on-demand, AI-enabled accessto high-quality skilling. The Foundation is also focused on integrating skilling with shop-floor training for vocational careers and enables employers, vocational trainers, and academic Institutes to adoptemployability programs for superior outcomes.

On the occasion of World Youth Skills Day, says Dr Ajay Kela, President and CEO, Wadhwani Foundation, “With half of India’s population of 1.3 billion under the age of 26, and ~12 million youth turning 18 every year, India is experiencing a massive demographic dividend that will last until 2055. This could make India a global HR powerhouse provided we fill the gap between the skills Industry desires and what academia is producing. In the COVID-19 times, digital has become the new normal, and video and mobile will play a key role in providing cheap, reliable, scalable, and effective learning solutions to solving the skilling problems. Wadhwani Opportunity, an initiative of the Foundation, has developed multi-media enabled technology solutions while integrating online/in-class 21st-century employability skills and self-learning pedagogy that can reach thousands of students simultaneously through our cloud platform. The theme of World Youth Skills Day 2020 is – Skills for a Resilient Youth – and I have full confidence in the resilience and perseverance of the Indian Youth who will tide over the COVID-led crisis with grit and determination. My message to the youth is that the current pandemic-led crisis provides an unprecedented opportunity through the new normal of digital learning and exploiting the emerging skilling avenues.”

About Wadhwani Foundation

Wadhwani Foundation was founded in 2000 by DrRomesh Wadhwani, with the primary mission of accelerating job creation in India and other emerging economies through large-scale initiatives in entrepreneurship, small business growth, innovation, and skilling. The Wadhwani Foundation operates in 20 countries, including India, South East Asia (Indonesia, Malaysia, the Philippines), East Africa (Kenya, Uganda, Rwanda), Southern Africa (South Africa, Botswana, Namibia), West Africa (Nigeria, Ghana), Egypt, and Latin America (Mexico, Brazil, Peru, Chile). The Wadhwani Foundation works in partnership with governments, foundations, corporations, and educational institutes. For more details on Wadhwani Foundation, please visit https://www.wfglobal.org/

WADHWANI FOUNDATION LAUNCHES 'SAHAYATA' INITIATIVE TO ASSIST SMALL AND MEDIUM BUSINESSES AND PUBLIC HEALTH WORKERS IN RESPONSE TO COVID-19 CRISIS

Wadhwani Foundation commits investment of INR 200 crore

       Wadhwani Sahayata will support 10,000 SMEs with business survival, stability, and growth consulting to help save or create upto 100,000 jobs

·         Wadhwani Sahayata will skill 500K to 1 million Asha, Anganwadi, nurses' aides and home-health workers in COVID-19 patient care, using digital platforms

·         Wadhwani Sahayata will provide innovation grants to up to 50 start-ups and early-stage companies to help accelerate innovation in public health technology in India

India, July 7th, 2020: The Wadhwani Foundation (WF) today announced the Sahayata Initiative to help distressed small and medium enterprises (SMEs) affected by the economic crisis and public health workers improve COVID-19 knowledge and skills. The Wadhwani Foundation is a leading non-profit Foundation serving India and other developing countries with the mission of accelerating job creation through large scale initiatives in entrepreneurship, SME growth, and skilling.

Wadhwani Foundation has committed INR 200 Crore andis building an ecosystem of partners, including government ministries and agencies, banks, and consulting firms, to help operationalize this large and complex initiative. The Sahayata Initiative consists of three programs: the Sahayata Business Stability program, the Sahayata COVID-19 Skillingprogram, and the Sahayata Public Health Innovation program. The Foundation builtall three Sahayata programs over the last 90 days. Rapid deployment will begin in August 2020.

Padma Shri Dr. Romesh Wadhwani, Founder and Chairman, Wadhwani Foundation,said, “COVID-19 has created both a health and an economic crisis thatis especially harming SMEs and jobs. Without proper credit and consulting support, the short- and long-term damage to the SME sector will be enormous. TheFoundation’s large investment in Sahayata supplements the government’s massive stimulus package by providing 10,000 SMEs with consulting services that will help them survive, stabilize, and ultimately grow into successful businesses and help save or create 100,000 jobs.All of the Foundation’sown consultants, existing and new content, and technology will be provided pro bono to SMEs.”

Sahayata Business Stability Program: SMEs are the core of every economy, but the economic crisis triggered by the COVID-19 pandemic has severely damaged this growth driver of all emerging economies. Larger companies generally have larger, more robust balance sheets, access to capital and management resources, and are more resilient.SMEs are much less resilient and need both capital and expertise to survive now, stabilize in the near term, and position themselves for growth. While the Government of India recently established an extensive, vital credit program for SMEs, these SMEs also need help with strategy and operational best practices to address challenges with customers, broken supply chains, and disrupted processes such as management and employee retention.

The Sahayata Business Stability program will provide upto 10,000 SMEs with transformational business consulting equipping them with the expertise necessary to survive, stabilize, and grow.

Wadhwani Foundation has signed partnerships with SIDBI, Clix Capital, IIFL Finance, Power2SME, and Magma Fincorp to select the SMEs for this program, jointly. Wadhwani Foundation is expanding its internal team dedicated to this program to 100 SME business consultants. Additionally, the Foundation is planning to partner with KPMG, FlexingIt, GroCurv, Strategy Garage, Bada Business, VentureBean Consulting, The Catalyst, Imbibe Consultancy Services, Black Brix Services, KonektUp, CFOBridge, Midas CFO, Dhandabadhao.com, and several curated individual subject matter experts, advisors and mentors, to provide SME consultants to this Sahayata initiative, at pro bono or substantially discounted rates. This combined team of consultants will use the Foundation's comprehensive and growing digital video library of business transformation and best practices content and the Foundation's advanced technology platform for SME engagement. Wadhwani Foundation is also establishing an academy to train SME business consultants in Sahayata-specific best practices, content, and technology.

Starting in August 2020, this Sahayata program will sign up 50 SMEs per month,increasing progressively to 500 SMEs per month. After an initial high-touch engagement model supporting companies with revenue up to INR 250 crores, Wadhwani Foundation will launch the next-generation, AI-powered self-service GENIE platform in mid-2021 to scale the program to additional SMEs. 

Arun. M. Kumar, Chairman, and CEO, KPMG in India, said,“We are pleased to put our shoulder to the wheel with Wadhwani Foundation’s Sahayata Initiative to help SMEs that have been severely impacted by COVID-19. We are proud to partner with the Foundation and Mr. Romesh Wadhwani in their visionary intervention to help this section of the industry that accounts for a disproportionate number of jobs and livelihoods.”

Shri Mohammad Mustafa, Chairman and Managing Director, SIDBI,said,“In the extraordinary circumstances of COVID-19, we believe that leading organizations should partner with each other to help MSMEs. As a responsive measure to facilitate revival and thriving of MSMEs, we are glad to know that Wadhwani Foundation, our existing MoU partner on mentoring MSMEs, is launching Sahayata Business Stability program. It shall provide free access to webinars, Do-It-Yourself tools, a curated bench of advisors, and mentors. This shall facilitate the emergence of stronger MSMEs, thus giving a fillip to the national mission of Aatmanirbhar Bharat.”

Pramod Bhasin, Chairman, Clix Capital, said, “While the government through various measures has ensured that affordable credit is available to MSMEs who need it, expertise and specialized talent across specific areas continue to be a major handicap. Through our partnership with the Wadhwani Foundation, we aim to create a support program to plug the skill gap for our MSME partners with measurable outcomes.”

Sahayata COVID-19 Skilling Program: In addition to physicians and nurses at city hospitals and clinics, India's public health infrastructure includes almost three million Asha and Anganwadi workers, home health workers, and nurses’ aides, as well as police and other volunteers. All are a crucial part of the public health response to COVID-19. However, most have limited access to needed knowledge to protect themselves anddiagnose and care for COVID-19 patients. Information on the World Health Organization and other government websites is often difficult to find, understand,or use. The Sahayata COVID-19 Skilling program provides essential information in an interactive video format through a variety of digital channels. Basic information on COVID-19 will be available on a dedicated YouTube channel. Additional information, including interactive Q&A and knowledge testing, will be provided via WhatsApp. Even more detailed skilling content and certification will be available on the Wadhwani Foundation's digital platform/portal and throughother partnersand government portals, such as iGot.The program will launch in August with an initial goal of skilling 5,000 existing and new public health workers per month and increasing to 50,000 per month, ultimately serving 500,000 to one million existing and new health workers. 

Sahayata Public Health Innovation Program: The COVID-19 crisis has shown how unprepared countries are in dealing with a pandemic. Most countries underinvest in public health infrastructure,and this hobbles rapid response in a crisis. Anenormous opportunity for innovation in public health exists, especially using today's new digital technologies, including telemedicine, real-time diagnostics and testing, and patient monitoring and care. Much of this necessary innovation will come from start-ups and early-stage companies that struggle to find sufficient venture capital to achieve their mission. The Sahayata Public Health Innovation program will provide innovation grants or investments to upto 50 start-ups and early-stage companies to help accelerate innovation in public health technology in India. Each award will be betweenINR 25 lakhs to INR 1 Crore. The Wadhwani Foundation has already made several direct and indirect grants; the number of candidate companies for such grants and investments is growing rapidly.

Sahayata Program for Other Countries: Wadhwani Foundation deliverson its global mission through teams in Southeast Asia, Africa, and Latin America, with a focus on Mexico and Brazil, all of which have been severely affected by the COVID-19 crisis. Wadhwani Foundation will launch Sahayata inMexico in August 2020, in partnership with states, including Mexico City, Jalisco, Chihuahua and Yucatan, and major consulting firms, including EY, KPMG, DELOITTE, Santander, GCG, CCMX,CAREINTRA,CONCAMIN, KONFIO, Fondeo Directo, FIDEAPECH and IYEM. Wadhwani Foundation plans to expand Sahayata to Brazil early in 2021 and in Africa and Southeast Asia (Indonesia, the Philippines, Bangladesh) in mid-2021. 

For more details on the Sahayata Initiative, please visit: https://sahayata.wfglobal.org

About Wadhwani Foundation

Wadhwani Foundation was founded in 2000 by Dr. Romesh Wadhwani, with the primary mission of accelerating job creation in India and other emerging economies through large-scale initiatives in entrepreneurship, small business growth, innovation, and skilling. The Wadhwani Foundation operates in 20 countries, including India, South East Asia (Indonesia, Malaysia, the Philippines), East Africa (Kenya, Uganda, Rwanda), Southern Africa (South Africa, Botswana, Namibia), West Africa (Nigeria, Ghana), Egypt, and Latin America (Mexico, Brazil, Peru, Chile). The Wadhwani Foundation works in partnership with governments, foundations, corporations, and educational institutes.For more details on Wadhwani Foundation, please visit https://www.wfglobal.org/

Wadhwani Foundation issues an advisory to MSMEs on International MSME Day 2020

 

Introspection replaces celebration

India, 26^th June 2020: On the eve of International MSME Day, global not-for-profit Wadhwani Foundation has put out an advisory to MSMEs struggling to sustain and survive due to the ongoing COVID-19 related crisis.

International MSME Day 2020, is more of a sombre occasion requiring introspection instead of celebration. The extraordinary phenomena of COVID-19 pandemic has thrown the world economy into chaos and it isn’t surprising that the small businesses are facing the brunt of this economic shock. In this moment of crisis, there are three important questions that MSMEs need to answer.

1.    What should small businesses do to remain solvent post COVID-19?

2.    What should they do to emerge stronger?

3.    How are & where will they get expert business advice in these trying times?  - a critical factor in helping them survive.

The pandemic led crisis is here to stay. Hence, it is imperative that MSMEs do not waste the crisis but instead look for opportunity in the same. Today’s situation demands prioritisation of survival over growth and meets the immediate challenges of statutory dues, wages and pressing creditors. Those who are able to do it, will get the benefits as soon as the economy recovers, and the business momentum returns.

On the eve of International MSME Day, Dr Ajay Kela, President and CEO, Wadhwani Foundation, shares this thoughts, “The MSME sector is bearing the brunt of the economic shock due to the COVID-19 pandemic and many of them are struggling to stay afloat with just 30-50 days of cash left. The single biggest challenge for MSMEs is getting access to and being able to pay for quality business consulting services. While fresh capital will always be welcome, uncertainty around growth will challenge them around capacity utilization, investment in new business development, talent retention, sinking employee motivation & morale. My advice to SMEs is to reorganize priorities as per three-stages, (1) Survive: evaluate every avenue to save cash given the uncertainty (2) Stabilize:  Be ready to pivot to meet new customer needs, through change and innovation (3) Explode: Don’t waste the crisis - as the economy recovers, build systems and processes to scale with new business models and products. In these unpredictable times, MSMEs with resilience and adaptive measures will effectively be able to tackle vulnerabilities such as financial stress, low demand, dispersed workforce and a downbeat export market, to survive and thrive”.

The single biggest challenge for MSMEs is that they are experiencing such a crisis for the first time, and the majority of them do not know how to act. Organizations, like the Wadhwani Foundation, are therefore focused on providing business stability consulting support, on a pro bono basis to SMEs for immediate strengthening of their business fundamentals, stabilising their business in the medium-term and facilitating rapid growth in the long-term.

MSMEs are the backbone of the Indian economy and they have the capacity to bounce back in playing a pivotal role to achieving India’s dream of a $5 trillion economy by 2025.

About Wadhwani Foundation

Wadhwani Foundation was founded in 2000 by Dr. Romesh Wadhwani, with the primary mission of accelerating economic development in emerging economies through large-scale job creation. The Wadhwani Foundation operates in 25 countries, including India, Indonesia, Malaysia, Philippines, and other countries in East Africa, South Africa, MENA and Latin America. The Foundation works in association with governments, corporations, mentors, investors, and educational institutes. Its five major initiatives are driving job creation through entrepreneurship, skills development, and innovation.