Perth entrepreneur Parampreet Singh wins seed funding for Indian VET project

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PERTH-based entrepreneur Parampreet Singh has won seed funding for a pioneering training project in India.
The New Delhi-based National Skill Development Corporation has approved Mr Singh’s AVTEG vehicle as a partner.

AVTEG has agreements to draw on skill set packages from Australian Institute of Management WA, SkillsTech TAFE in Queensland, the Canberra Institute of Technology, SILK Education & Training in Melbourne, and health sector TR7 Training Services in Perth.

The NSDC board last month approved a loan worth $A105,000 so that AVTEG can launch 14 training centres in India.

Its SkillsCONNECT project seeks to train 61,046 Indians in industries such as manufacturing, engineering, construction, retail and beauty.

A public-private partnership, the NSDC’s job is to help increase the supply of training to India’s huge, youthful population by offering loans to VET providers, who do not have to make repayments until their projects become self-sustaining.

“It’s an important step forward for private vocational education and training providers in India and we’re delighted to see him do so well,” said Claire Field of the Australian Council for Private Education and Training.

“He’s spent considerable time on the ground working out an appropriate business strategy and building the networks and partnerships which are so important to making these kinds of ventures work.”

Ms Field said “a small number” of other ACPET members were at a similar stage of development with Indian projects, and she would be taking another delegation to India next month.

The landmark 2011 Knight report on student visas said that in many cases it made more sense for VET providers to expand offshore in the Asia-Pacific, than to bring students here. That report led to a loss of migration incentives for the domestic VET industry.

Mr Singh said he was in talks with other possible “knowledge partners” or providers of skill set packages, including CQ TAFE, Sydney Institute of TAFE, and TAFE SA.

He said AVTEG’s market research helped partners customise training for the diverse Indian market.

Later this month Mr Singh will look for opportunities in Indonesia when he joins the inaugural delegation led ACPET’s Ms Field.

Source: The Australian