CXOToday has engaged in an exclusive interview with Anubhi Khandelwal, Founding Director, Terafac Technologies Pvt. Ltd, a part of NSRCEL, a part of NSRCEL Women Entrepreneurship Program
Tell us about Terafac Technologies, and how the NSRCEL Women Startup Program has helped you. How has been the journey so far?
In a rapidly evolving global landscape, the importance of upskilling and reskilling the workforce cannot be overstated. Terafac Technologies Pvt. Ltd. is a DPIIT, Government of India (DIPP90773) recognized start-up
that is on a mission to transform the Indian youth into skilled professionals ready to thrive in the Industry 4.0 era. We set up state-of-the-art “Smart Manufacturing and Industry 4.0” Labs that serve as a vital learning
resource for students, driving innovation, infrastructure development and better placements. Through our setups, we are equipping students with hands-on experience in cutting-edge technologies like IoT, AR/VR, smart automation, and Digital Twin, paving the way for a brighter future in the manufacturing sector.
We started our journey at NSRCEL IIM Bangalore in 2022 when we got selected for its Women Startup Program and the experience has been a transformative one. When we joined NSRCEL we were in the prototyping state, developing the MVP with a very little experience of business as such. One year fast
forward, we have successfully deployed our labs at some prestigious technical institutes, IIT Ropar being one of those, with more collaborations with the government in pipeline.
Much of our success is credited to the invaluable support and mentorship received through the NSRCEL Women Startup Program. NSRCEL helped us secure grant under Startup India Seed Fund scheme which made it possible for us to sustain the infamous ‘startup valley of death’, our pre-revenue stage. But it is not just the funding but a nurturing ecosystem fostering innovation, learning, and growth which has been the bedrock of our success. Multiple workshops, seminars, and training sessions conducted in a hybrid online/offline mode allowed us to get an insight into business strategy, marketing, and finance, complementing our technical expertise. Further, the program connected us with experienced mentors who have guided us at every step of our journey. Their insights, industry knowledge, and strategic guidance have been instrumental in shaping our startup’s direction. NSRCEL’s extensive network has opened doors to partnerships and collaborations.
The association with IIMB also adds credibility to our startup. It demonstrates to our stakeholders, partners, and customers that we are committed to excellence and quality in everything we do.
In last one year Terafac Technologies has made significant strides. We have successfully established “Smart Manufacturing and Industry 4.0” Labs in educational institutions, providing students with a platform to gain practical experience in Industry 4.0 technologies. We are not just preparing the youth for the future of manufacturing; we are actively shaping that future. With the continued support of NSRCEL and the
dedication of our team, we look forward to making an even greater impact and propelling India to the forefront of the Industry 4.0 revolution. Together, we are transforming dreams into reality, one skilled student at a time.
What are the key gaps/ problem areas you are trying to tackle with this venture?
We are in the era of Smart Manufacturing. India aims to be the global manufacturing hub by 2030. Indian industries are making an effort to leverage various schemes promoted by the government to adopt the latest technologies at a faster pace. This adoption will end up creating an unprecedented
demand for the workforce skilled in these technologies, hence a huge skill gap that will create immense job opportunities. It is extremely critical that this skill demand is met else the investments for industry upgradation will not be leveraged to its full potential.
a McKinsey Global report confirmed that up to 800 million jobs will have disappeared by 2030 as a result of automation. However, this may also be an opportunity, because, as novel technologies emerge, so will new professions that will create millions of jobs in new sectors.
We strive to address the problem of this ever-widening skill gap by establishing ‘Smart Manufacturing and Industry 4.0 Labs’ in Colleges/Universities that serves as a hub for hands-on training, innovation, and collaboration in the fields of advanced manufacturing and Industry 4.0 technologies such as smart sensors, Robotics, IoT, AR/VR, Digital Twin, 3D printing. By providing access to state-of-the-art equipment, expert training and guidance, and hands-on experience, the lab intends to foster the development of skilled individuals, promote technological advancements, and contribute to the growth and competitiveness of the rapidly evolving landscape of modern manufacturing.
The Lab acts as a one stop solution for youth of different engineering streams to get trained, certified and obtain placement opportunities accordingly. Terafac also offers short term fee-based certification courses. We specialize in delivering customized solutions aligned with both University and industry demands. Our carefully crafted learning materials provide immersive hands-on experiences, enabling students to swiftly transition into the workforce with job-ready skills in a remarkably brief period. Alongside setting up the lab, we will also train the trainers so that they can integrate this smart manufacturing lab into their curriculum and effectively train students.
Through our specialized training modules and hands-on training stations, the lab enables students to upskill and remain relevant in an increasingly technology-driven manufacturing landscape.
In this data-driven era, being fluent in the “language of data” gives a company a significant edge over its competitors. What are your take on this?
In the course of human history, language has always played a pivotal role. It has served as a means to express ideas, exchange thoughts, achieve practical goals and progress as a society. From ancient symbols etched on cave walls to the intricate web of modern digital communication, language has remained a constant. In today’s era, it’s the language of data that stands out as a crucial factor, offering a significant competitive advantage.
With a background as an Automation and Digitalization specialist at Siemens UK and as the founder of Terafac Technologies, I’ve witnessed firsthand how data, in this data-driven age, is not just a valuable asset but the driving force of the modern business landscape. It’s a peek into our history, that allows us to completely understand the present scenarios. So, let’s take a deep dive into four industrial revolutions that our planet has witnessed to understand the profound role data plays today. All industrial revolutions are defined by a power source that completely changed the way society and businesses operated.
First Industrial Revolution: This era was marked by steam engines and mechanization, a time when machines began to replace manual labor. Communication was predominantly analog, and data was primarily recorded on paper. Steam was the power source here.
Second Industrial Revolution: Electricity and assembly lines defined the second industrial revolution, enabling mass production. Communication evolved with the advent of the telegraph and telephone, but data still lived on paper. Let’s guess the power source here? Electricity
Third Industrial Revolution: The third industrial revolution was heralded by the rise of computers. Digital communication became the norm, and data started to emerge as a valuable commodity for businesses. This revolution was primarily powered by the proliferation of electronic devices, microprocessors, and the development of the internet.
Fourth Industrial Revolution: We now find ourselves in the midst of the fourth industrial revolution. Here, data takes centre stage. Smart technologies, automation, the Internet of Things (IoT), artificial intelligence (AI), and robotics are all driven by data. Companies that harness and understand this data are rewriting the rules of industry.
In this context, the ability to comprehend and communicate fluently in the “language of data” holds immense significance. Today the companies are looking to achieve faster time to market, greater flexibility to allow
customer personalization, and reduced downtime and errors, to stay competitive in the market. And this is what data, when used effectively, allows to achieve. I always like to empathize on this difference between third revolution and the fourth, the third revolution was digitization. We went from Analog to Digital. The
fourth revolution is digitalization ( digital + analyzation) , where the data collected is analyzed for informed decision making. Data-driven insights expose inefficiencies within an organization, paving the way for streamlined operations and cost savings. In this fourth industrial revolution, data fluency isn’t just an asset; it’s a prerequisite. Companies that comprehend this language can translate raw data into actionable insights, placing them ahead of competitors who are still deciphering the code. Embracing data fluency isn’t merely an option; it’s the path to innovation, agility, and that all-important edge over competitors.
What are your plans? Are there any specific targets that you are chasing for the year 2024?
Past one year has been a roller coaster for us and I’m excited about the journey that lies ahead for our company, especially for the year 2024. We’ve made significant progress in our mission to upskill and empower the youth for the future of manufacturing, and we have ambitious plans that encompass collaboration with relevant government organizations, technical institutes and industrial clusters in India.
Lab Deployments and Curriculum Integration: Our primary focus for 2024 is to expand our reach in the education and manufacturing sectors. We aim to deploy our “Smart Manufacturing and Industry 4.0” Lab setups in a greater number of educational institutions across India. Simultaneously, we plan to work closely with these institutions to integrate our training programs into their curricula. This ensures that students receive structured and comprehensive training in Industry 4.0 technologies.
Industry Partnerships: Our ultimate vision is to bridge the gap between academia and industry. To achieve this vision, we’ll commit to strengthening our partnerships with manufacturing companies and industry experts. This strategic collaboration creates more opportunities for internships, research projects, and job placements for our students. We aim to identify critical industrial clusters across India and set up labs in those clusters that will enable reskilling of their existing blue-collar workers and parallelly upskill youth of nearby regions.
Government collaborations: Our dream of upskilling Indian youth in data and Industry 4.0 is almost impossible to achieve without collaborations with key government organizations related to education and skill development. Some key players we are looking to partner with in 2024 are Atal Innovation Mission, National Skill Development Centre, Industry training Institutes and state govt bodies among other organizations. This collaboration will involve discussions, partnerships, and initiatives aimed at aligning our goals with the broader national objectives.
Online Learning Initiatives: Recognizing the evolving landscape of education, we plan to launch online learning initiatives in 2024. Our self-learning modules and videos are already created which will be launched on our own LMS (learning management software). This will not only cater to a wider audience but also provide flexible learning options, ensuring that our training remains accessible and up-to-date.
We will continue to measure and showcase the impact of our programs by tracking metrics such as the number of students trained, job placements, and the growth of the manufacturing sector where our graduates are employed. This data will help us continually refine our approach and demonstrate our commitment to driving positive change.
Our goal is to continue empowering the youth with the skills needed for success in the fourth industrial revolution, contributing to India’s manufacturing growth, and making a positive impact on the lives of students while fostering national progress. Together, we envision a future where data-driven innovation and collaboration drive economic prosperity and technological advancement.
How Upskilling Can Empower Workforce for the AI Revolution
The manufacturing industry is undergoing a revolution, one driven by data and powered by artificial intelligence (AI). I’d like to mention here my favourite quote by Klaus Schwab, founder of World Economic Forum. On the fourth industrial revolution he says, “ The changes are so profound that, from the perspective of human history, there has never been a time of greater promise or potential peril”. However, like all revolutions, it necessitates the correct steps to unlock its full potential. Leading manufacturing companies have already begun this journey, utilizing data and analytics to reshape their operations. They recognize that insights derived from data can fundamentally reshape their business models and redefine their measures of success. However, despite these ambitious goals and appealing value propositions, it’s evident that many companies have yet to fully grasp the vast potential of this transformation.
According to a report by the World Economic Forum (WEF) “The Fourth Industrial Revolution will change the world – but only 14 percent of execs are ready for it.” Only 14% execs are highly confident that their organizations are fully equipped to harness the changes associated with Industry 4.0. So, what’s holding us back? The answer lies in the workforce’s readiness to embrace this new world of smart, integrated, and data-driven processes. To thrive and survive in this new era, a whole new skill set is required, one that’s rooted in digital fluency and data literacy. As also identified by Terafac Technologies, the biggest challenge facing businesses today is the shortage of these critical skills.
The rapidly advancing technology landscape is reshaping the very nature of work. It’s creating unprecedented opportunities, yet businesses are scrambling to find individuals with the right skill sets.
The WEF predicts that machines and algorithms may displace 75 million jobs globally. However, this technological wave is expected to usher in 133 million new roles, creating a net gain of 58 million jobs. The catch is that these new roles demand a different skill set and cultural acceptance to adapt to new technologies and process change.
In essence, only technological and behavioural upskilling can empower the workforce for the AI revolution. It’s the key to closing the skills gap and ensuring that businesses can fully harness the potential of Industry 4.0. As the manufacturing industry undergoes a data-driven revolution powered by AI, upskilling emerges as the critical catalyst for success. The skills gap may be a challenge, but it’s also an opportunity to prepare for the jobs of tomorrow and seize the immense potential of the Fourth Industrial Revolution.
