Employment Outcomes Fund – Social Finance India

Our
VISION

To create a powerful new set of partnerships to drive large-scale improvement in skilling outcomes; rather than funding inputs and activities.

Our
MISSION

Set up a $30M Employment Outcomes Fund (EOF) along with strategic partners to gainfully employ ~200K underprivileged youth over three years. The fund would provide incremental funding to select high-quality Training Partners for delivering demand-led short-duration skilling courses.

India today faces an unprecedented skilling and unemployment crisis, with severe implications for economic growth and prosperity. The country faces a dual challenge of a severe shortage of skilled manpower in industries on the one hand and high youth unemployment on the other, highlighting a strong mismatch between the demand and supply for skills in the labour market.

are jobless
exacerbated by Covid-19 pandemic.

is the current
unemployment rate.

Over 10 million youth are trained annually through various government skilling schemes that fund short-term programs at zero cost to the youth, with Government reimbursing the Training Partners on pre-decided common cost. We propose to set up a $30M Employment Outcomes Fund (EOF) together with NSDC and other strategic partners to gainfully employ ~200K underprivileged youth over three years. Training Partners would leverage funding available through schemes such as PMKVY ($200-350 per youth) and use the incremental funding for strengthening.

The Employment Outcomes Fund is a game-changer fund that aims to create a sustainable funding to address India’s skilling crisis. It can demonstrate an effective model of leveraging impact financing through a Public-Private-Philanthropic collaboration to accelerate achievement of Government of India’s vision of Skilled India.

This leaves little room to correct for quality in key areas of remedial education, non- academic development, curriculum development and teacher professional development. The government has struggled to improve the quality of public education.

India Education Outcomes Fund (IEOF) is a visionary fund that aims to create an ecosystem of sustainable funding by bringing together the government, donors, investors, and service providers to work together towards a common set of learning outcomes to channel $1 Billion towards improving learning outcomes and delivering on India’s Sustainable Development Goal of ensuring “inclusive and equitable quality education and promote lifelong learning opportunities for all” by 2030.