In an Interview with Pioneernews24.com Mr. Rachit Jain Founder CEO of Youth4work shares his views about the company and its future:
Mr. Rachit Jain began his career in 2006 with Mahindra Automotive. Looking at his performance he was chosen to take the lead of a startup venture by Mahindra called Mahindra First Choice Services where he used to manage team of more than 100 people. There he observed young professionals were allocated responsibilities and portfolios that didn’t match their innate strengths, their true talents! In fact, he also realized that even employers were finding it difficult to hire candidates with true talents. He felt a strong urge to create a platform which not only recognizes individual talents and helps them polish their talents but also find most suitable employers for them. Youth4work is actual realization of that eagerness.
- What vision you had when you started this company?
I wanted to prove that there is no dearth of talent in this world. The real problem is identifying & improving the talent and then connecting it to the right opportunity. In India we have 300 million potentials unique talents. If we are able to recognise and encourage that, they would prove to a greatest asset for their employer & Country. Moreover, mere thought of impacting millions of lives inspired me to start youth4work.
- Where do you see yourself 3 years down the line?
Today, we have more than 10 lakh registered users on our portal which we would like to increase to more than 3 crore by 2019.
- What differentiates Youth4work from their competitors?
Youth4work is a platform which helps individuals to assess their innate abilities, improve their skills and then connect them to right employers. We are concentrating on skillset whereas all the competitors working on numbers. This approach has also impacted the engagement of Tier I and Tier II candidates who are not able to cope up with current skills required in the market. We have observed that many candidates are also actively taking up our online courses made available through our partners in order to add feathers to their professional profile.
- What is your CAPEX plan for next 3 years?
Definitely for target of 3 crore we require CAPEX but as on today we can’t share the numbers as a policy of the company. We have already tied up with investors who are ready to fund us through equity or debt. Preferably equity would be our first choice but we will take a call at the time of requirement.
- How Youth4work is contributing towards “Skill Development and Entrepreneurship 2015”
By 2022 Govt of India is looking for 32 crore skilled labour. It is vision of our Honourable Prime Minister to make India “Skill Capital of World”. Youth4work promises to positively impact the talent ecosystem in the contemporary world —including talent development, talent assessment and talent sourcing.
Around 1 Million user base (growing exponentially) tested and ranked on their perceived talents, 7000+ educational institute profiles, 11,000+ employers advertising more than 30,000 jobs, practice tests for 210+ competitive exams, 500+ skill certification courses. With over 500Million people in India in the age group of 18–24 yrs. the potential impact is huge as its a multi-billion-dollar market.