India is looking at the future where there will be no jobs. A storm is brewing up in India’s Industrial complex due to all automation, robotics and digital technology taking a big chunk of the Employment sector. In coming years we will see layoffs in thousands while a future in which new projects could be driven largely by automation and robots could put paid to the aspirations of millions of young men and women readying to join the workforce every year.
Axis Bank, the country’s third-largest private sector bank, has launched the largest crowd-sourcing competition. Future of Jobs in India, seeking ideas from young minds.
It was an attempt to bring innovative solutions from the youth for generating jobs across various sectors. They were almost 21,000 people sending in their ideas across the agricultural, IT & ITES and tourism sectors. 11% of these ideas have been generated by young working professionals and 89% have come in from students.
The framework of the initiative looks at co-creating ideas especially with the youth of our country and providing them a platform to come together and bring alive their vision of India and the future of jobs.
Top 50 ideas were shortlisted through a rigorous selection process.Among 50, top 5 teams were given a chance to present their idea in front of esteemed jury. The eminent jury pannel included Rajan Anandan – MD of Google India, Amitabh Kant – CEO of Niti Ayog , Ms.Shikha Sharma – MD & CEO, Axis Bank.
The grand finale featured the top 5 teams who will make a final presentation to the jury. The winning teams will be awarded prize money of Rs. 25 lacs, Rs. 15 lacs and Rs. 10 lacs respectively, including Rs. 5 lacs each as seed funding for the start-up.
Teams that made into Grand Finale were ; Bodhi, Be Rozgaar, Mi Color, Chai Pe Charcha, Croyants.
Winning Team : MICOLOR
Winning Idea : The wining idea was from Students whose plan is curate natural colours from microbes which is one of the most economical, unexplored an safe alternatives to artificial colors made from petrolenum.