Amid fierce competition in Information and communications technology (ICT) industry, it is estimated Australia will have a shortfall of 60,000 skilled workers in this sector in the next 5 years, said Andy Penn, CEO of 43-year-old Australian telecom company Telstra, reported CRN, an Australian media outlet.
Telstra, which is Australia’s largest telecommunications firm, is now planning to build new skills and capabilities in new areas for the future and for same Telstra plans to launch an ‘Innovation and Capability Centre’ in Bangalore, to later this year.
Telstra cannot find enough of the skills in Australia such as software engineers, that the company need on the scale that it need them. According to Penn, Australia had only 1200 new software engineers in the past 12 months, compared to 44,000 from India.
The upcoming Innovation and Capability Centre in Bangalore, according to Penn, will consolidate Telstra’s presence in India where the company already work with many partners and furthers in house talent it previously sourced from third parties. With this, Telstra aims to quickly hire, develop and scale that talent across its business.
The Bangalore centre will complements with what Telstra is doing in home-country Australia including its Telstra Labs, its startup accelerator program ‘Muru-D’ and its customer insight centres.
It may also be recalled that in early 2015, Telstra had acquired IdeaObject, a Chennai, India-based startup that builds software, for an undisclosed amount.
Telstra also has a corporate venture capital arm called ‘Telstra Ventures’. Based in Silicon Valley, Asia and Australia, the VC arm is backed by Telstra along with HarbourVest, one of the world’s largest private equity funds. It generally invest in later stage technology companies in series B,C and D.
Top Image -Telstra Melbourne headquarters | Image Source – TheAustralian.com.au