Posted by AGORACOM-JC
at 7:30 PM on Sunday, December 15th, 2019
This decade began with incredible hope for graphene as the miracle material that would change everything.
By 2015, hope gave way to indifference as graphene failed to live up to the smallest of expectations.
With the next decade just 15 days away, ZEN Graphene Solutions has reignited the great graphene hope with a string of great successes in 2019 that put commercialization within sight.
If you walked away from graphene years ago, you now owe it to yourself to watch this interview with ZEN CEO Francis Dube and find out why 2020 could mark the start of the graphene decade.
Posted by AGORACOM-JC
at 5:45 PM on Friday, December 13th, 2019
SPONSOR: New Age Metals Inc.
The company owns one of North America’s largest primary platinum
group metals deposit in Sudbury, Canada. Updated NI 43-101 Mineral
Resource Estimate 2,867,000 PdEq Measured and Indicated Ounces, with an
additional 1,059,000 PdEq Ounces Inferred. Learn More.
Palladium Barrels Toward $2,000 as Red-Hot Rally Shreds Records
Palladium’s blistering rally shows no sign yet of cooling off as records tumble
the precious metal advanced to the highest ever on Friday as it climbed for an unprecedented 16th straight day.
Ranjeetha Pakiam, Bloomberg News
(Bloomberg) — Palladium’s blistering rally shows no sign yet of
cooling off as records tumble: the precious metal advanced to the
highest ever on Friday as it climbed for an unprecedented 16th straight
day.
Prices are now barreling toward $2,000 an ounce as mining disruptions
in major producer South Africa add to supply concerns, tightening a
market already hobbled by a persistent deficit.
Palladium is headed for a seventh quarterly climb as demand for the
metal used in autocatalysts has been strengthened by tighter emissions
rules, with Citigroup Inc. forecasting it could hit $2,500 an ounce next
year. In South Africa, rolling blackouts have hurt miners’ operations
after state utility Eskom Holdings SOC Ltd. announced record power cuts.
Spot prices climbed as much as 1.3% to $1,965.82 an ounce, and traded at $1,960.93.
To contact the reporter on this story: Ranjeetha Pakiam in Singapore at [email protected]
To contact the editors responsible for this story: Phoebe Sedgman at [email protected], Jake Lloyd-Smith
Posted by AGORACOM-JC
at 3:15 PM on Friday, December 13th, 2019
SPONSOR:ThreeD Capital Inc. (IDK:CSE)
Led by legendary financier, Sheldon Inwentash, ThreeD is a
Canadian-based venture capital firm that only invests in best of breed
small-cap companies which are both defensible and mass scalable. More
than just lip service, Inwentash has financed many of Canada’s biggest
small-cap exits. Click Here For More Information.
Dutch Bank ING Reportedly Working on Crypto Custody Tech
Netherlands-based banking multinational ING is developing technology for the custody of crypto assets, according to Reuters.
By: Daniel Palmer
The news agency said in a report on Wednesday that sources “familiar with the matter” indicated the ultimate aim of the initiative is to provide secure crypto storage facilities for the bank’s customers.
The tech, though still in the early stages, is apparently being built by a team based in Amsterdam.
Responding to Reuters in a statement, ING said it “sees increasing
opportunities with regard to digital assets on both asset backed and
native security tokens,†and is taking a particular focus on developing
blockchain technology to open up the sector for clients.
ING is already involved in a number of blockchain initiatives, with its dedicated development team saying in April that it’s working on privacy technology called “bulletproofs” to potentially conceal client data.
If ING now moves into custodianship of crypto assets, it will be one
of very few traditional finance institutions to have done so.
Fidelity’s digital assets arm launched custody services earlier this year, as did Bakkt,
the bitcoin derivatives subsidiary of Intercontinental Exchange. A plan
by Japanese bank Nomura to offer institutional-grade custody for
digital assets was delayed till 2020 in spring.
Otherwise, only a few smaller banks such as Julius Baer and Arab Bank’s Swiss arm have moved to offer the service in a bid to attract clients.
Posted by AGORACOM-JC
at 11:40 AM on Friday, December 13th, 2019
SPONSOR: BetterU Education Corp.
aims to provide access to quality education from around the world.
The company plans to bridge the prevailing gap in the education and job
industry and enhance the lives of its prospective learners by developing
an integrated ecosystem. Click here for more information.
EdTech Platform Vedantu Raises $11M Led by Omidyar Network with Participation from Accel & Others
Round led by Omidyar Network with participation from Accel & overseas Education conglomerate
Vedantu, an EdTech platform and pioneer of the ‘live online, interactive’ class has raised funds of $11 million (INR 79 crores)
company’s proprietary technology platform allows interaction between the student and the teacher via an online whiteboard and an audio and video environment.
Vedantu, an EdTech platform and pioneer of the ‘live online,
interactive’ class has raised funds of $11 million (INR 79 crores). The
company’s proprietary technology platform allows interaction between the
student and the teacher via an online whiteboard and an audio and video
environment. Students also access content, take assessments and get
their learning report on the platform. Vedantu aims to deploy the
majority of these funds for further technology development to create a
more personalized LIVE learning experience for students and to develop
its Student App.
Vedantu started operations in 2015 and has currently completed
800,000 hours of LIVE classes with a student base of 40,000 from grades 4
to 12 (for CBSE & ICSE Boards) and works with 500 teachers. The
teachers who are chosen after a rigorous selection process are spread
over 80 cities. Each tutor must maintain a high rating from students to
continue teaching.
According to a report by Google and KPMG, the online education
industry in India is poised to grow eight times to become a $1.96
billion industry by 2021 as an increasing number of students consume
content through e-routes. In this segment, primary, secondary and
supplemental education is likely to see the highest uptake and paid user
base is estimated to touch 9.6 Mn users in 2021.
According to Vamsi Krishna, Vedantu CEO and Co-Founder, “Our aim at
Vedantu has always been to reimagine and improve the way teaching and
learning have been happening for decades. Today on Vedantu, thousands of
students from all across the world study virtually with teachers, who
are located far away from them. By using technology tools, data and AI,
we are not just connecting these students to amazing teachers, but we
are able to create a superior learning experience for students and aid
in their outcome improvement, which is unlike any offline experience.
Teaching and learning are set to transform at a rapid pace and our
mission at Vedantu is to accelerate these transformations.â€
Siddharth Nautiyal, investment partner, Omidyar Network said, “The
lowering data costs and availability of high speed internet is making
the online teaching model a reality. Vedantu’s one-to-many live classes
are disrupting the market while providing students a meaningful
learning experience through ‘star’ teachers and an AI-powered platform
to students in over 400 cities. We are excited about our partnership
with Vedantu as they build a solution for the next half billion Indians
who are coming online for the first time.â€
“As one of the early starters, Vedantu is a category defining company
in online LIVE tutoring. Their constantly evolving tech platform
combines the best of teaching & learning experience making education
accessible, affordable and impactful. We are committed to Vedantu’s
vision & excited to be a catalyst in this journeyâ€, added Anand
Daniel, Accel Partners.
Posted by AGORACOM-JC
at 9:35 AM on Friday, December 13th, 2019
SPONSOR: NORTHBUD (NBUD:CSE)
Sustainable low cost, high quality cannabinoid production and
procurement focusing on both bio-pharmaceutical development and
Cannabinoid Infused Products. Learn More.
Ontario to dramatically expand cannabis retail market and remove cap on number of pot shops
In a news release issued Thursday, Attorney General Doug Downey said that opening the cannabis market in Ontario as “responsibly†as possible has always been the government’s “number one priority.â€
TORONTO — The Ontario government has announced steps to allow more cannabis retail stores to open in January.
In a news release issued Thursday, Attorney General Doug Downey said
that opening the cannabis market in Ontario as “responsibly†as possible
has always been the government’s “number one priority.â€
“We have said all along that opening more legal stores is the most
effective way to combat the illicit market, protect our kids and keep
our communities safe.â€
In order to achieve these goals,
the government said that it will eliminate the temporary cap on the
number of private stores and cancel the pre-qualification requirements
for prospective retailers.
The Alcohol and Gaming Commission of Ontario (AGCO) said it will
begin accepting applications under the new guidelines on Jan. 6 followed
by store authorization applications on Mar. 2.
“Store applications from this open application process are expected
to be issued beginning in April, at an initial rate of approximately 20
[stores]
per month,” the release reads.
Retail operators would be allowed to own a maximum of 30 cannabis stores in 2020, increasing to a total of 75 by Sept. 2021.
The changes also affect licensed producers (LP) in the cannabis
sector. LP’s will now be able to open up a storefront at one of their
facilities.
Under the new rules, retailers will also be permitted to sell cannabis-related items like magazines and cookbooks.
Cannabis activists excited by open market
The lottery system implemented by the Ford government was no stranger to criticism.
In the first year of legalization, only 24 legal cannabis stores opened
their doors which cannabis activists said was frustrating.
“It’s been kind of impossible to get a license because of the
lottery,” The Friendly Stranger founder Robin Ellins said, speaking to
CP24.
“It really was a lottery and those ‘winners’ are real winners of a lottery.”
Downey addressed the criticism over the lottery system earlier today speaking to CP24.
“We wanted to go at a pace so that we could actually make sure the
supply was there and that was part of the constraint,” Downey said.
“Now that the federal supply has been solved, that issue, we’re now in a position to go much wider and faster.”
And that’s welcomed news to Ellins who said an open market in the province is “long overdue”.
“I think it’s great that people who have been in the industry for the
last 25 years may actually get a chance to open licensed establishments
and bring our extensive knowledge and expertise to market.”
Posted in North Bud Farms Inc | Comments Off on NORTHBUD $NBUD.ca – Ontario to dramatically expand cannabis retail market and remove cap on number of #pot shops $CGC $ACB $APH $CRON.ca $HEXO.ca $OGI.ca
Posted by AGORACOM-JC
at 8:07 AM on Friday, December 13th, 2019
Announced that its wholly-owned subsidiary, Empower Healthcare Assets Inc., has issued a convertible promissory note in the principal amount of CAD$250,000 to Heritage
Under the terms of the LOI, Empower and Heritage will each hold a 50% ownership interest in the JV entity.
Heritage, via its wholly owned subsidiary, Purefarma Solutions Inc. will install extraction units and related downstream extraction equipment inside Empower’s existing 5,000 sq. ft. licenced hemp processing facility in Sandy, OR.
HERITAGE CANNABIS HOLDINGS CORP. (CSE:CANN) (“Heritage”) provides $250,000 of funding to support the development of the previously announced Empower – Heritage Extraction Center Joint Venture (the “JV”) in Sandy, OR.
VANCOUVER, BC / December 13, 2019 / EMPOWER CLINICS INC. (CSE:CBDT)(OTC:EPWCF)(Frankfurt:8EC) (“Empower” or the “Company“), a vertically integrated and growth-oriented CBD life sciences company, is pleased to announce that its wholly-owned subsidiary, Empower Healthcare Assets Inc., has issued a convertible promissory note (the “Note“) in the principal amount of CAD$250,000 to Heritage, pursuant to an initial first funding under the letter of intent (the “LOI“) previously announced by the Company on September 17, 2019.
Under the terms of the LOI, Empower and Heritage will each hold a 50% ownership interest in the JV entity (“NewCo“). Heritage, via its wholly owned subsidiary, Purefarma Solutions Inc. (“Purefarma“),
will install extraction units and related downstream extraction
equipment inside Empower’s existing 5,000 sq. ft. licenced hemp
processing facility in Sandy, OR. In addition, Purefarma will train and
supervise staff on the proprietary methods of extraction and oil
production that it utilizes in Canada. The JV will be equally funded by
both companies, with Heritage investing an initial $500,000 for start-up
funds, as the build-out completes and the JV secures high quality hemp
supply from local growers.
“Securing the initial advance from Heritage demonstrates the
confidence both companies have in being able to finalize a definitive
agreement for the formation of the JV and commence full operations at
the Sandy, OR facility,” said Steven McAuley, Empower’s Chairman and
CEO. “Receiving the advance allows us to place purchase orders for
equipment and complete 2020 state licensing requirements to begin
product production, which is expected to be followed soon after by the
set up of the hemp-derived CBD extraction equipment.”
“We at Heritage continue to be excited and optimistic about our
potential with the large U.S. markets. Having a distribution partner
like Empower and a licenced facility together are expected to allow us
to accelerate our path to new revenue and support the order pipeline we
are building,” said Clint Sharples, CEO of Heritage.
The Note bears interest at the rate of 2.0% per annum and will mature
no later than December 31, 2021. The Note contains an optional
conversion provision for Heritage to surrender the Note in exchange for
shares in the capital of Empower. The number of Empower shares to be
issued to Heritage will be based on the value of the shares at the close
of business the day before this Note is surrendered to the Company,
subject to a minimum conversion price of $â—, being the closing price of
the shares on the Canadian Securities Exchange (the “CSE“) on December â—, 2019.
A further optional conversion provision provides that, on or after
the date when a definitive agreement is executed and delivered by the
parties in connection with the JV, Heritage may surrender the Note to
the Company in exchange for an equity interest in Newco equal to
Heritage’s pro-rata cash investment in NewCo made pursuant to the Note,
provided however, that the Company shall have 60 days to match
Heritage’s contribution to NewCo, such that if the Company or an
affiliate invests an amount equal to Heritage’s investment, the equity
ownership in NewCo will be held equally by Heritage and the Company.
Upon conversion, all amounts advanced under the Note shall be deemed to
be an equity advance to NewCo for purposes of the JV.
The proceeds of the Note shall be used solely in connection with the
JV and the incorporation of Newco. The proceeds shall not be used to
repay the outstanding balance under any existing or future bank or
credit facility or similar arrangement, including any scheduled payments
of principal and interest.
The Note and any Empower shares issued thereunder will be subject to a
statutory hold period of four months and one day from the date of the
issuance of the Note under applicable Canadian securities laws, as well
as resale restrictions under applicable United States securities laws.
The issuance of the Note and any Empower shares are subject to the
approval of the CSE. Neither the Note nor any of the Empower shares that
may be issuable thereunder will be registered under the United States Securities Act of 1933,
as amended, and none may be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to sell
or the solicitation of an offer to buy any securities of the Company,
nor shall there be any sale of the securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
ABOUT EMPOWER
Empower is a leading owner/operator of a network of physician-staffed
clinics focused on helping patients improve and protect their health
through innovative uses of medical cannabis. It is expected that
Empower’s proprietary product line “Sollievo” will offer patients a
variety of delivery methods of doctor recommended cannabidiol (CBD)
based product options in its clinics, online and at major retailers.
With over 165,000 patients, an expanding clinic footprint, a focus on
new technologies, including tele-medicine, and an expanded product
development strategy, Empower is undertaking new growth initiatives to
be positioned as a vertically integrated, diverse, market-leading
service provider for complex patient requirements in 2019 and beyond.
ABOUT HERITAGE CANNABIS HOLDINGS CORP.
The Company is a vertically integrated cannabis provider that
currently has two Health Canada approved licenced producers, through its
subsidiaries Voyage Cannabis Corp. and CannaCure Corp. both regulated
under the Cannabis Act Regulations. Working under these two licences,
Heritage has two additional subsidiaries, Purefarma Solutions, which
provides extraction services, and BriteLife Sciences that is focused on
cannabis based medical solutions. Heritage as the parent Company, is
focused on providing resources for its subsidiaries to advance their
products or services to compete both domestically and internationally.
ON BEHALF OF THE BOARD OF DIRECTORS:
Steven McAuley Chief Executive Officer
CONTACTS:
Investors: Steve Low Boom Capital Markets [email protected] 647-620-5101
For French inquiries: Remy Scalabrini, Maricom Inc., E: [email protected], T: (888) 585-MARI
DISCLAIMER FOR FORWARD-LOOKING STATEMENTS
This news release contains certain “forward-looking statements”
or “forward-looking information” (collectively “forward looking
statements”) within the meaning of applicable Canadian securities laws.
All statements, other than statements of historical fact, are
forward-looking statements and are based on expectations, estimates and
projections as at the date of this news release. Forward-looking statements
can frequently be identified by words such as “plans”, “continues”,
“expects”, “projects”, “intends”, “believes”, “anticipates”,
“estimates”, “may”, “will”, “potential”, “proposed” and other similar
words, or information that certain events or conditions “may” or “will”
occur. Forward-looking statements in this news release include
statements regarding: the proposed JV; the Company’s intention to open a
hemp-based CBD extraction facility; the expected use of proceeds of the
Note; the expected benefits to the Company and its shareholders as a
result of the proposed JV. Such statements are only projections, are
based on assumptions known to management at this time, and are subject
to risks and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the
forward-looking statements, including that: Heritage and Empower may be
unable to agree on terms of a definitive agreement with respect to the
JV; that the Company may not open a hemp-based CBD extraction facility;
that legislative changes may have an adverse effect on the Company’s
business and product development; that the Company may not be able to
obtain adequate financing to pursue its business plan; general business,
economic, competitive, political and social uncertainties; failure to
obtain any necessary approvals in connection with the proposed JV or
extraction facility; and other factors beyond the Company’s control. No
assurance can be given that any of the events anticipated by the
forward-looking statements will occur or, if they do occur, what
benefits the Company will obtain from them. Readers are cautioned not to
place undue reliance on the forward-looking statements in this release,
which are qualified in their entirety by these cautionary statements.
The Company is under no obligation, and expressly disclaims any
intention or obligation, to update or revise any forward-looking
statements in this release, whether as a result of new information,
future events or otherwise, except as expressly required by applicable
securities laws.
Tags: CSE, Hemp, Marijuana, stocks, tsx, tsx-v, weed Posted in All Recent Posts, Empower Clinics Inc. | Comments Off on Heritage Cannabis Provides Initial $250,000 Financing to Empower Clinics $CBDT.ca for Joint Venture Extraction Facility $WEED.ca $CGC $ACB $APH $CRON.ca $HEXO.ca $OGI.ca $FAF.ca
Posted by AGORACOM-JC
at 5:14 PM on Thursday, December 12th, 2019
SPONSOR: New Age Metals Inc. The company owns one of North America’s largest primary platinum group metals deposit in Sudbury, Canada. Updated NI 43-101 Mineral Resource Estimate 2,867,000 PdEq Measured and Indicated Ounces, with an additional 1,059,000 PdEq Ounces Inferred. Learn More.
Palladium posts all-time high that tops gold’s record price
Palladium prices have once again hit a fresh all-time high, in the process exceeding gold’s record from nine years ago, as demand for the palladium in catalytic converters remains robust, traders and analysts said.
An additional impetus this week was continuing power issues in South Africa, some observers added.
As of 10:31 a.m. EST, spot palladium was up $26 to $1,922 an ounce
and peaked at $1,935.30. Commerzbank analysts pointed out that this
topped gold’s peak near $1,911 set back in 2011.
Platinum was up $2 to $938 an ounce and peaked at $944.40, its strongest level since Nov. 4.
TD Securities described the platinum group metals as “on fire as
South African power woes add to supply concerns, particularly for
palladium, which is in short supply.â€
A desk trader downplayed the South African issue but emphasized the
voracious demand for palladium in catalytic converters. The metal moved
to a wide price premium over platinum in the two years, since palladium
is used for catalytic converters in gasoline-powered cars, popular in
the No. 1 and No. 2 car markets of China and the U.S.
“Palladium is trading strictly off of the fundamentals,†the trader said. “We have such strong demand…for catalytic converters.â€
In particular, he explained, the consumption has increased in China
and other countries due to more stringent environmental regulations.
This has meant more loadings of palladium in each vehicle. In fact, some
analysts said this has more than offset a decline in car sales during
2019.
“Palladium has been in a structural deficit for the last few years,â€
the desk trader said. “The increased demand due to higher emissions
regulations in China, and a little bit in India, is just pushing that
deficit deeper and deeper, which is driving the price…There is just a
supply issue with people trying to get metal.â€
Spot palladium has soared by 52% since the start of the year.
The trader said the South African power issues have been on traders’
radars for a while now. He pointed out that the load shedding has abated
some from earlier in the week, yet palladium has continued to rise anyway due to the strong demand, particularly from China.
“Even though we regard the steep price rise as exaggerated, there is
no end in sight to the rally,†said Daniel Briesemann, metals analyst
with Commerzbank. “Alongside palladium, platinum has also gained
significantly for the second day in a row….This is probably related to
the power outages in South Africa.â€
Rolling power blackouts have occurred this week in South Africa,
which along with Russia, is one of the world’s two leading producers of
platinum group metals. This has impacted mining operations, which rely
on electricity for operations that occur far below the ground, according
to news reports.
Flooding after heavy rains exacerbated problems at public utility
Eskom, according to news reports. The country’s president has also
attributed some of the issues to suspected sabotage at power stations.
Eskom provides more than 90% of South Africa’s power.
Posted by AGORACOM
at 4:19 PM on Thursday, December 12th, 2019
SPONSOR: Labrador Gold – Two successful gold explorers lead the way in the Labrador gold rush targeting the under-explored gold potential of the province. Exploration has already outlined district scale gold on two projects, including a 40km strike length of the Florence Lake greenstone belt, one of two greenstone belts covered by the Hopedale Project. Click Here for More Info
Completed gold acquisitions have reached about $33 billion so far in 2019, the highest since 2011
A torrent of deal-making among gold producers that’s pushed M&A in the sector to an eight-year high is seen spilling over into the wider mining industry — if there’s a rally in global growth.
Pending and completed gold acquisitions have reached about
$33 billion so far in 2019, the highest since 2011, according to data complied
by Bloomberg. That’s as deals among all mining companies have declined about
29% from last year to $60-billion, the data show.
A revival in the economic outlook, with higher interest
rates and inflation, would prompt other metals producers to rethink their
current strategy of cutting debt and lifting shareholder returns — and focus
again on pursuing growth, according to Christopher LaFemina, a New
York-based analyst at Jefferies.
“Until now, the market has rewarded companies for austerityâ€
amid a chase for yield, LaFemina said in a phone interview. “We will see a
significant acceleration of M&A activity when global growth recovers.â€
In recent times, the biggest miners, including Rio Tinto and
BHP, have made only some small investments in undeveloped projects and
authorized new spending on expansions at existing operations.
Larger-scale M&A could be an option for Rio next year,
UBS Group analysts, including Glyn Lawcock, said in a report this month.
“Will 2020 see the shackles come off? Growth in the portfolio is limited,†they
said.
Rio has a “watching brief for attractive M&A
opportunities,†though intends to remain “absolutely disciplined,†CEO Jean-Sebastien
Jacques told investors at an October seminar. The company has said its
ventures team is evaluating opportunities in battery materials, including in
nickel. There would be “plenty of logic†for Rio in adding copper producer
First Quantum Minerals, according to Barclays.
BHP is also seeking to add oil, copper and nickel, and could
consider deals that offer an early entry into high-quality resource bases,
particularly before the value of a project is fully understood, CFO Peter
Beaven said in May.
Still, large companies and their investors continue to be
chastened by past failed deals, according to Paul Mitchell, EY’s global mining
and metals leader, and they remain cautious after a multi-year effort to repair
balance sheets in the wake of the 2015 price collapse.
Sectors such as base metals have fewer opportunities for
consolidation than precious metals, and a price downturn hasn’t yet forced
companies into distress, according to David Harquail, chief executive officer
at Franco-Nevada Corp., a mine streaming and royalty company.
Since January’s $10-billion gold mega-merger between then
Newmont Mining and Goldcorp, companies in the sector including Newcrest Mining
have added individual mines, while Kirkland Lake Gold and Zijin Mining Group
acquired smaller rivals. Barrick Gold and a partner on Tuesday agreed to a $430
million deal to sell a 90% stake in a project in Senegal to with Teranga Gold.
Gold’s rally means there’s been “a slightly improved
environment to be able to finally do transactions,†Harquail said. There’s a
prospect of further activity among gold producers into next year, with
investors ready to back proposals that reduce overheads and combine assets, he
said.
“I want to see smart consolidation, not the same thing that
we’ve seen in the past†among gold producers, said Joe Foster, a New York-based
portfolio manager at Van Eck. “There’s value to be created by consolidating
some of these single-asset companies.â€
Posted by AGORACOM-JC
at 3:30 PM on Thursday, December 12th, 2019
SPONSOR: BetterU Education Corp.
aims to provide access to quality education from around the world.
The company plans to bridge the prevailing gap in the education and job
industry and enhance the lives of its prospective learners by developing
an integrated ecosystem. Click here for more information.
How to address India’s unemployability problem?
According to a report by KPMG and Google, the Indian edtech market is pegged to touch $1.96 billion by 2021.
“Education is the most powerful weapon which you can use to change the world.â€â€“ Nelson Mandela
But how is one supposed to change the world if provided with outdated education? How is one supposed to even progress if not provided with the platform to change the world after taking the education?
This is the state youth find themselves rather consistently. No,
I’m not talking about Senegal or Syria. I’m talking about India which is
not just largely unemployed but unemployable.
The unemployability problem
Let’s understand the difference first. Unemployability essentially
means that even if there were available jobs, companies wouldn’t hire
the student because he is largely substandard and lack skills worth
paying for. Unemployability emerges from a wide gap between the level of
student’s skills and knowledge resulting from his college education and
in the level of what market demands.
The distressing growing number of educated youth (age 15-29) who are
“Not in Employment, Education or Training (NEET)†had increased to 115
million in 2017-18 from 70 million in 2004-5 points to growing
“unemployability†depicting a significant problem with education in
India.
From my experience in educating students over the past 8 years I have
gathered, after graduating most students from Tier 2 & Tier 3
colleges wander in metro cities learning about the market realizing the
massive gap in their knowledge and market demand, taking a few
short-term courses (computer & communication skills), going for some
walk-in interviews and finally settle for anything they can find. This
period ranges approximately from 1.5 to 2 years after college.
The “National Employability Report – Engineers 2016†(NERE), by
Aspiring Minds, an employment assessment organization found out that
nearly 80% of the graduating engineers are unemployable. The above
figures reinforce the fact that only 20 per cent of the five million
students who graduate every year get employed in India according to the
Associated Chambers of Commerce and Industry of India (ASSOCHAM).
CP Gurnani, CEO & MD of Tech Mahindra resonates with the above
findings in an interview given to TOI, “The top 10 IT companies take
only 6% of the engineering graduates. What happens to the remaining 94%?
If you come to Tech Mahindra, I have created a five-acre tech &
learning center. For learnability, skill development and being ready for
the market, the onus is now shifting onto the industry.â€
Reasons behind unemployability
During all the razzmatazz in the post-liberalisation era while the
“mass recruiters†propelled the service economy at the rate of 9%
annually, AICTE approved engineering institutes grew to 10,396 in 2018
from a mere 337 in 1991.
But as with every fairy tale, bubbles burst, realities change and supply becomes more than the demand.
Careers started going for a toss and unemployability becomes a two-fold problem in India:
1. Student Mindset: Many are living a myth: getting into a college is the door to a great career.
They fail to seek meaningful advice from the right stakeholders and
not just with peers who still believe in the myth of “engineering
royaltyâ€.
Only 3.84 per cent of engineers in the country have the technical,
cognitive and linguistic skills required for software-related jobs in
startups. A recent study by the University of Exeter in the UK listed
skills like communication, problem-solving, being self-motivated,
organizational, team spirit, adaptability, negotiation as inevitable to
the hiring process. Students from Tier 2 & Tier 3 fall short in
these parameters in a considerable way and rarely strive to learn these.
Apart from a lack of internships, engineers also have low
employability because only 36 per cent do projects beyond their
curriculum.
2. Outdated Curriculum and Reluctant Colleges: Student attendance
writing assignments are given a priority rather than acquiring expert
faculty.
Colleges are not able to upgrade and keep up with the pace of
advancement in the market in terms of curriculum and expert faculty. The
jobs of the glorified past are becoming redundant. Though the demand
for skills like artificial intelligence, machine learning, data science,
digital marketing and mobile development has been shooting up, only 3
per cent of engineers have these new-age technological skills.
Only 40 per cent of engineering graduates do an internship, while a
mere 7 per cent of students do multiple internships and colleges play
little or no part in the procurement.
The subjects are taught in a very theoretical manner. Whereas 60 per
cent of faculty doesn’t talk about the application of concepts in the
industry, only 47 per cent of the engineers attend any industry talk.
Employability vs Employment (NERE)
Employable
Got an Interview Opportunity
Reached Final Round
Employed
Average Salary
19.11 %
72.64 %
51.66 %
19.91 %
3,13,000
Possible solutions
After the IT services and engineering institutes revolution, India saw a third revolution- Start-ups.
According to a report by KPMG and Google, the Indian edtech market is pegged to touch $1.96 billion by 2021.
The best possible solutions to the unemployability problem
can be obtained through strategic partnerships and collaborations
between Startups, Institutes and Industry.
Startups have a better chance of solving these challenges simply
because they have the ability to aggregate and accelerate. When all
these stakeholders work as a team with a focus on employability to offer
industry-oriented quality education, which can advance as quickly as
the technology it can bring about a paradigm shift in mainstream
education:
Student Awareness: Students need to learn that one-time education
(degrees) will neither guarantee them jobs nor will last through entire
working career. Companies are shifting from hiring based on credentials
to hiring based on a candidate’s portfolio/projects and experience.
Institute collaborations EdTech startups can collaborate with
institutes which provide infrastructure and accreditations keeping the
business models “asset lightâ€. Startups can either take the on-campus
“Bootcamps†way (E.g. PESTO) providing 2-6 months- coding, soft skills,
mock interviews, workshops, industry talks and new age technology
courses along with placements in internships or the full take-over way
(E.g. Sunstone Eduversity) where the responsibilities for admissions,
academics (program design, curriculum, and pedagogy), and placements are
presided completely by the startup.
Industry collaborations Startups can diligently make industry
collaborations with industry experts and stalwarts for helping prepare a
better curriculum in resonance with current market scenario and
bringing industry leaders as expert faculty on-board(can be a mix of
online-offline lectures) which would help students understand market
demands. Collaborations should focus on providing hands-on experience in
terms of internships. Placing these students is easier because of trust
due to industry collaborations.
Certification Collaborations Institutes or startups can collaborate
with other strategic partners like foreign universities and renowned
private education companies using their industry-oriented curriculums
and opening up new avenues like digital marketing, AI & ML, big
data, cloud computing, etc.
We need change. We need it now. We need it at a pace which can only
be achieved through strategic collaborations. We need dozens of such
startups to keep with the pace of technology advancements.
DISCLAIMER : Views expressed above are the author’s own.
Source: https://timesofindia.indiatimes.com/blogs/the-growth-catalyst/how-to-address-indias-unemployability-problem/
Posted by AGORACOM
at 3:06 PM on Thursday, December 12th, 2019
Ken Konkin Discusses the Goldstorm Deposit at Treaty Creek (including recent outstanding drill results like 0.725 g/t over 838.5m), it’s Potential, and 2020 Development Plans
American
Creek is a Canadian junior mineral exploration company with a strong
portfolio of gold and silver properties in British Columbia.
Three
of those properties are located in the prolific “Golden Triangleâ€; the
Treaty Creek and Electrum joint venture projects with Tudor Gold/Walter
Storm as well as the 100% owned past producing Dunwell Mine.
The
Treaty Creek Project is a Joint Venture with Tudor Gold owning 60% and
acting as operator. American Creek and Teuton Resources each have 20%
interests in the project. American Creek and Teuton are both fully
carried until such time as a Production Notice is issued, at which time
they are required to contribute their respective 20% share of
development costs. Until such time, Tudor is required to fund all
exploration and development costs while both American Creek and Teuton
have “free ridesâ€.
The Corporation also holds the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King properties located in other prospective areas of the province.
For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: [email protected]. Information relating to the Corporation is available on its website at www.americancreek.com.
Hub on Agoracom FULL DISCLOSURE: American Creek is an advertising client of AGORA Internet Relations Corp.
