How Innolabz ventures understand the problem of unemployment in India and solving it with the help of startup ecosystem 1 – startup ecosystem
Team Innolabz

Innolabz ventures private limited founded by Mr. Saurabh Chaturvedi, and Ms. Malvica Saxena is not just a company, but a promise made to uproot the root cause of unemployment. Established on January 05, 2017, the company holds a long & rich history. While back in college, when students were busy participating in group discussion or debates about unemployment, reservation policies and other social evils, these two people made up their mind to solve at least one of these problems and they took help of startup ecosystem for it.

Time passed, they graduated and joined MBA just like many B.Tech. Students do. But here, there was a reason behind. Mr. Saurabh was looking for answers to questions like – Why the combination of B.Tech and MBA is preferable to employers? Why students with good grades could not make it to final placement Mr. Saurabh refused his appointment letter in the pursuit of finding what difference does MBA degree make to a B.Tech student.

Identifying the fact that there was a gap between academia & industry, between the skills acquired by an individual & the skills required to ace the corporate and that not all toppers succeed while not all mediocre fail, both of them decided to work for improving the quality of education in India.

Coming from middle-class families, the chances of receiving support for becoming an entrepreneur were feeble. Mr. Saurabh Chaturvedi joined Jindal Power & Steel to begin his career. Meanwhile, he kept introspecting about what can be done and how. While Ms. Malvica constantly engaged in academic updated him about the loopholes of the industry, Mr. Saurabh being into industry kept planning for his dream company.

Saurabh, Founder of Innolabz

Mr. Saurabh, Innolabz

After a while, he confronted the “Startup” opportunity and decided to understand the startup ecosystem, for the same he joined OYO Rooms which initiated its journey during the same time. There, Mr. Saurabh paid heed to what was the process, an entrepreneur had to follow and what mistakes they commit, which become the reason for the downfall of a company, as well as a dream.

After several years of speculation and groundwork, they came up with a tangible outline of the idea. But an idea is not the whole; to construct a unit the raw material needs to be gathered first. Mr. Saurabh left a well-paying job, invested every penny he saved from his salary to make this dream project take a shape. The team of two gradually grew into a team of around 10 dedicated people, and Power2Career, Power2Idea, and Power2Dream became the flagship programs.

Initially, he took help of interns to create awareness about what Innolabz had to offer. The 3E Mantra – Employability, Entrepreneurship, Exploration was highly appreciated by everyone who came across this thought of eradicating unemployment by developing employability and promoting entrepreneurship.

Innolabz LogoGrey hair syndrome though proved to be a major obstacle in the path. However, executives left no stone unturned in convincing the respective authorities to give the program a try. As a result, several colleges like HIMT, PIIT & companies like Versatylo Interactive, Technocool Global, mitzvah signed MOUs and gave a green flag to our integration program- Power2Career. Though many companies talk about placement and career, Innolabz focused mainly on developing the relevant skills to ensure that wherever you go, you remain employable and employment opportunities are never too far beyond your reach.

The second solution to the problem was identified as Power2Idea- an entrepreneurship development program. For hiring employees, we need employers and startup ecosystem was the best option available. Thus B-plan competitions where organized in the University of Delhi and XLRI Jamshedpur, the winners of which received incubation and mentoring support, free of cost. Mr. Saurabh believes in collaboration.He says-

“Excel rather than Compete. Jealousy or hatred only brings insecurities, joining hand brings strength to win all the battles, survive all the storms.”

Power to Dream which is a school integration program is yet to be unveiled. Meanwhile to strengthened Power2Career and upscale ourselves, specialized training or courses like Data Science, GST, and Digital marketing have added to our cart of services. Innolabz organizes and conducts events and workshops for spreading awareness in colleges on regular basis without charging any fee. Since the goal isn’t to monetize the problem and opportunity but to offer the best possible solution. It was just the dedication of the founder and the founding team that within a short span of time the company grew from an LLP to a Private Limited. Big names like XLRI, IIT Kharagpur, got associated with them.

For incubation and mentoring Atal Incubation Centre AIC- BIMTECH has associated with Innolabz. Not just on the National level but on International standards too, Innolabz has impressed and amused with its unique way of looking at the problems. GIIM, New York has validated, appreciated and welcomed the agenda of Innolabz; and has extended complete support to ensure that our students are not left secondary to any across the globe.

Just like Innolabz Ventures, we need many more such startups in our startup ecosystem, which can understand & bridge this gap between the acquired skills & quality skills need for the employment.

Divya Gupta
Divya is a skilled business developer and the conceptual mind behind bold and bright ideas. She has an eye for the smallest detail which defines her work. She can reflect and analyze work like nobody else and never lets the bigger picture escape from sight. Sometimes she says – Let’s do it all over again!

How Sanjeev Bikhchandani Got The Idea of India’s Biggest Online Job Portal? Success Story of

Previous article

Rajnigandha 2018 – Dyal Singh Evening College Fest, Delhi University

Next article

You may also like


Leave a reply

Your email address will not be published.