Shri Roji John, M L A, Angamaly,
Dr. J. Letha, Vice Chancellor, Cochin University of Science
and Technology,
Shri Ashutosh Khajuria, Executive Director, Federal Bank Ltd.,
Shri Paul Mundadan, Chairman, Federal Institute of Science
and Technology,
Dr. George Isaac, Principal, Federal Institute of Science
and Technology,
Dear Teachers, Beloved Students,
Sahodaree Sahodaranmare
Ellavarkkum Ente Namaskaram.
I am very happy to inaugurate the EDUCATIONAL CONCLAVE AND YOUNG ENTREPRENEURS SUMMIT organized by Federal Institute of Science and Technology (FISAT), one of the premier self-financing professional colleges in Kerala, enriching the area of engineering studies since 2002.
Let me at the outset, compliment the organizers for choosing "Technology for Human Development" as the motto of the national level three day programme on ‘Science Education for Humanity,’ held as part of the Founder’s Day celebrations.
I have been informed that as an institution initiated by the Federal Bank Officers' Association Educational Society, this college has earned a reputation for good educational performance by offering six graduate and post graduate programmes including Masters in Computer Applications(MCA) and Masters in Business Administration (MBA).
Today’s event is also an occasion to recall the services of the Late K.P. Hormis, the founder of Federal Bank Ltd. The story of how the Late K.P. Hormis who hailed from an agricultural family became a lawyer and then took over the reins of the Travancore Federal Bank is well known. I am happy that his bust has been unveiled today.
I must also admit that initially I was amused to see a group of Bankers giving shape to an engineering college, since banking and engineering are entirely different areas. But, having seen the new trend of engineering graduates cornering a sizable number of jobs in the banking sector, I have to describe your decision as farsighted.
However, the employment scenario that is confronted by our engineering graduates requires our serious attention. While a large number of graduates get some jobs in the Business and Knowledge Process Outsourcing sectors, the general level of unemployability among our graduates is a matter of grave concern. When we launched the prestigious Skill India Mission in 2014, it was found that only 2.3% of the work-force in India had received formal skill training, while nations like Japan and South Korea had trained over 90% of their work-force.
Skills and knowledge being the real drivers of socio-economic growth, the youth of the nations with higher standards of skills can attune themselves to the challenges and opportunities in the global job markets. Our students and young job seekers should also be given higher skill training so that they can catch up with the new global trends and help India utilize the demographic advantage of having the largest number of young people. It is good that Skill India has so far made a great difference in this matter.
As you may be aware, the role of the Governor also involves the role of Chancellor of the State Universities. Therefore, I feel it my duty to keep a close watch on the goings on in our universities and colleges. One of the areas where most of our institutions are yet to make considerable progress is in taking the fruits of research to the people. An educational institution's role in society attains meaning only when it identifies with the issues faced by the immediate society and works to provide solutions to those problems. In this context, it is heartening to know that the Tech-Planet of FISAT works towards empowering young innovators of rural areas. FISAT’s idea of empowering the youth of our villages with the help of a mobile Mini Fabrication Lab deserves appreciation.
As we all know, innovation is the key to industrial and technological success. At present, the programmes like Start-up India and Digital India have instilled in our youth, a greater vigor and enthusiasm to pursue innovative ideas. That the students of this college have also drawn inspiration from such programmes is evident in the innovative Disease Detection facility developed by the young innovators of FISAT. I am really happy to know that this innovation has won the initial approval of the Indian Institute of Technology, Mumbai. In fact, such innovations would come to be known as Indo-vation, meaning Indian innovation.
It is also commendable that this college is reaching out to the rural schools to identify young innovators who have ideas for developing various products. I would request the teachers and students to use the incubation facility for suggesting solutions that our Farmers may be looking for. It certainly is satisfying to note that you have earmarked a session for Innovative Farmers. I also hope that the FISAT Weather Station would also reach out to people with credible information.
Another issue that I would point out is the general reluctance on the part of the scholarly people to recognize the innovations of less educated people. Quite often, even the idea behind an innovation is discouraged as unscientific just because the innovator does not have a formal degree in the subject. Our colleges and universities must shed such reservations about the capability of our rural folk and involve them in our search for excellence through innovation.
I understand that many young innovators and future entrepreneurs are attending this conclave and Entrepreneurship Summit. I greet all of them and wish them all the best, not just in winning, but also in occasional failures, because, quite often, it is the failed ideas that become inspiration for truly successful ideas of the future. So, work hard, without fear of failure; success will be yours. I also compliment the college authorities for organizing this meeting in a befitting manner.
Ellaavarkkum Ente Aashamsakal
Nanni
Jai Hind
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