Singapore edtech firm launches $1m fund to address skill gap among workers

Singapore-based Kydon has launched a US$1 million grant for creators as the edtech firm looks to address the widening gap in skillsets among Asia’s workforce.

Photo credit: ZilLearn

The grant is intended to aid Singapore’s push to capitalize on the growing need for online education and skill development, with the city-state looking to bolster its educational offerings to remain attractive to top talent.

“Creators devote themselves to designing industry-defining courses, and our mission is to get these valuable resources in front of those who need it most around the world, starting with the booming Asian market,” said Thomas Paris, chief learning architect for Kydon.

ZilLearn, the company’s edtech workforce platform, connects knowledge experts, enterprises, and learners in a single training ecosystem.

the platform offers personalized career and learning recommendations for Singaporeans by evaluating individual skill sets, leveraging data-driven job market insights, and identifying upskilling and reskilling needs. The firm is also slated to launch a subscription plan for users in December with help from the Singapore government, which has set aside a dedicated training fund for the program.

The company aims to offer a subsidized subscription plan to about one million Singapore residents by 2024.

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Meanwhile, the number of workers in need of new digital skills in Asia-Pacific countries is expected to grow more than 5x to 819 million by 2025 from 149 million at present.