The TeamLease, a staffing solutions company, has signed a Memorandum of Understanding with the Government of Gujarat for establishing a vocational university, according to Vandana Sharma, head-Partners Operations, IIJT (Indian Institute of Job Training) Education Pvt. Ltd., Bangalore.

She was talking to newspersons at the opening of a satellite-enabled training centre at the IIJT Vellore franchisee centre in Sathuvachari near here on Tuesday.

Ms. Sharma said the company has raised Rs.100 crore through the ICICI ventures for starting the university, which would be known as TeamLease Vocational University.

The amount would be used for setting up the university as well as expansion of the IIJT in the country. Once the university is established, all IIJT centres would be affiliated to the TeamLease Vocational University, and students undergoing courses in the IIJT would be awarded certificates or diplomas by the university.

Shajan Samuel, division head-South, IIJT Computer Education Pvt. Ltd., Bangalore, who inaugurated the satellite-enabled centre, said that IIJT Vellore offered courses in finance such as complete business accountant (CBA), integrated business accountant (IBA) and certified financial planner (CFP). The CBA, which is meant for higher secondary passed students, is a 560-hour course, while the IBA, which is meant for graduates, is a 300-hour course. The CFP, which is meant for graduates and postgraduates, preferably workers employed in banks, is a 200-hour course.

Classes would be held every day for two hours in different batches from 7 a.m. to 7 p.m.