An Expense For One, An Opportunity For Another
Top 5 IT firms spend $438 mn on training screams this headline in Mint, going on to state that the talent shortage facing the industry is bound to add to the training bill for these companies. Of the 100,000 engineers the companies plan to hire, up to 80% of the hires are made at the entry level, and up to 80% of the training budget is spent on them. While at one end, this does not speak too well of our education system, on the other hand, it does open opportunites given that $9.6 million was invested by VCs in the elearning space spread across 3 deals - Mumbai-based Hurix Systems Pvt. Ltd received $5.1 million from Helion Venture Partners; TutorVista.com, an online tutorials company started by serial entrepreneur K. Ganesh, received $2.5 million from Manipal Education Group; Mumbai-based e-learning services company 24×7 Learning Solutions Pvt. Ltd received $4 million from Capital18, the venture capital arm of media group Network18.
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