Future of Jobs in India, Axis Bank Creates Crowd Sourcing Initiative

Axis Bank’s initiative to change the future of jobs in India is truly praiseworthy. We see shows like Shark Tank and hope that something like that happens in India but at the same time we question ourselves about if India really does have that kind of talent. The answer is – Of course it does!

The Axis Bank – Future of Jobs campaign, India’s largest crowd sourcing initiative, is an attempt to bring innovative solutions from the youth for generating jobs across various sectors.

This year Axis bank received over 21,000 ideas across the agricultural, IT & ITES and tourism sectors. 11% of these ideas have been generated by young working professionals and 89% came 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.

The best 50 ideas were shortlisted through a rigorous selection process and the finalists submitted their business plans in greater detail for the finale. The demographic details for the finalists were as follows:

  • 87% of the ideas came from students of which 33% were from Tier 1 campuses
  • 72:28 is the male female ratio and they had two all-girl teams
  • The top five sectors included agriculture (22%), tech-led businesses (16%), power (12%), manufacturing (10%), and tourism (10%).

On the 8th April 2017, the top 50 teams battled it out for the top 5 spots in the grand finale. The final jury members besides senior leaders from Axis Bank also include:

  • Ashustosh Pandey – CEO, Tata Cliq
  • Renu Karnad – MD, HDFC ltd
  • Sahil Vachani – CEO Max Ventures
  • Shankar Narayanan – Co-founder, Active Intelligence
  • Ved Arya – Srijan
  • Rohit Thakur – CHRO, Accenture
  • Akash Lal – Senior Partner, Mckinsey & Company

Panelist Details:

  1. Mr.Amitabh Kant – CEO, Niti Aayog
  2. Mr.Rajan Anandan – Managing Director, Google India
  3. Ms.Shikha Sharma – MD & CEO, Axis Bank

The presentations of the top 5 contestants started late in the evening at Hyatt, Delhi.

The first team was Be Rozgaar, their idea was an app for providing employment to white collar and dehari workers.

Next came Bodhi, an e-waste management company that will change the future of e-waste management, or so they claimed!

The most promising was Mi Colour, their margins were wonderful. They had answers to all the questions asked by the panelists and jury members and their business plan was very sound. Both the contestants had a Phd. and they were confident orators. It was quite a great experience to watch them present.

As expected, the winners of  were Mi Colour’s Arjun & Vaishali.

C88-LKnXsAI1iEr.jpg Their idea of finding microbial alternatives to hazardous chemical fabric dyes was the most appealing to the jury.

It is very impressive to see that a company like Axis Bank is giving way to such innovative and ground-breaking ideas. This series is being aired on TV too.

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