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IIM Alumni launches 'Elements Akademia' to make graduates employable
Lucknow | October 05, 2007 3:14:59 PM IST
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Lucknow, Oct 5 (ANI-Business Wire India): A group of Indian Institute of Management (IIM) Alumni today launched Elements Akademia, a first-of-its-kind academic institute aimed at bridging the gap between academic theory and industry requirements.

Speaking on the launch of the institute, Nishant Saxena, CEO of Elements Akademia said, "Despite being one of the fastest growing economies with 8%+ GDP growth, unemployment has still hovered around 7-8% for the last decade. Irony is that, on the one hand, companies do want to hire and, on the other hand, there is also enough graduate talent, but sadly there is a mismatch between actual industry skill requirements and what is taught in our universities. Our flagship programme aims to bridge this gap and make our youth employable."

Conceptualized, funded and operated by a group of 10 IIM Alumni, Elements Akademia will leverage the vast professional knowledge and expertise of the promoter group which consists of highly-placed professionals from across the globe.

The flagship programme, aimed at graduates in 15 Tier II cities, is a six-month comprehensive part-time course encompassing business communication, managerial effectiveness, basic IT and other specialized domain knowledge in areas of Insurance, inventory management, accounting and payables.

On successful completion of the course, the students will receive certificates endorsed by K J Somaiya Business School (India's Top 20 MBA programme).

To the students, Elements offer an industry relevant course designed to get a job.

Elements has done extensive research with multiple companies to understand what they are actually looking for in a candidate and then worked with their HR and Academic Advisors to design this course.

The course/exam is exactly in line with the entrance recruitment process of the companies, which means that success in exam should also mean success in actual recruitment.

To the employers, Elements offers a customized pre-hire training school: Elements invests in marketing to attract students who are then selected to the course based on pre-screening specs laid down by the corporate partner.

Students then pay and get trained on curriculum designed with the partner. Finally the partner comes for campus recruitment and hires only those who meet the usual hurdle rate.

There are nine other Senior IIM Alumni as Lead Promoters/Investors, each typically having 10-20 years of corporate experience, and working across the globe. They are contributing through their expertise/networks.

Genpact is the lead corporate partner, and has assisted in course design/delivery and screening criteria - that drastically increases the hiring chance of the students.

Elements Akademia has also been granted a NASSCOM - associate member status. Elements has also applied for an ISO 9001:2000 certificate.

Professor Tapan Bagchi, has been appointed as the Honorary Dean. Bagchi brings with him four decades of experience which spans 16 years in Exxon Mobil US, as well as founding chair of IIT Kanpur's B-school, which he set up in 1983.

He also headed NITIE as Director and finally helped setup SP Jain Dubai B-school as Dean. He has authored 6 test books and 75 papers.

The Lucknow city launch entails a one crore investment, and Elements plans to have 15 more institutes across India in coming 2-3 years. Courses in retail and Insurance are also in the pipeline.

The vision of Elements is to be the leader in high quality job oriented courses in India and other developing countries.

For the launch, Elements worked closely with all the leading colleges (BA/BCom/BSc) of Lucknow to understand student requirements and organize focused career counseling.

The launch event was attended by Satish Chandra Mishra, UP State Cabinet Minister, Sandhya Chintala, NASSCOM Director - Education Initiatives, Niranjan Deodhar, VP and India Hiring Leader, Genpact and Professor Narasimhan, Director-General KJ Somaiya Bschool.

Professor Vipul, Dean IIM Lucknow lauded the efforts of IIM Alumni and highlighted the new trends in entrepreneurship towards corporate social responsibility. (ANI)

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