Łódź: education of future professionals takes center stage

When king Władysław Jagiełło granted town privileges to Łódź in July 1423 – exactly 600 years ago – he transformed a small settlement into a town. The Polish king could not have foreseen that the modest town would turn into a textile empire in the 19th century and continue on its development path, becoming one of the most dynamically growing, liveable, and business-friendly cities in modern Poland of the 21st century.

The last two decades saw a lot of work and effort poured into positioning Łódź as one of the leading Polish cities. A holistic approach ensured that every aspect of urban life was taken into account.

City officials view projects improving quality of life as extremely important. Łódź had successfully implemented a host of developments aimed at revitalizing the city center. Investments such as the Orientarium or EC1 Łódź-City of Culture play a double role, given they are popular among city dwellers as well as tourist attractions.

Students and graduates of Łódź universities can choose from an extensive array of initiatives aimed at improving their skills and standing on the labor market. "Youth in Łódź" is the oldest youth support program in Poland, catering to young residents (students, high school graduates, and university students). Currently, it offers the largest scholarship program in the country, which has already benefited over 2,000 individuals. Year by year, this program is gaining increasing popularity among applying students and scholars, as well as companies offering not only scholarships but also internships and apprenticeships within their office walls. This seal of approval coming directly from the market represents highest praise and stands as a clear indicator that “Youth in Łódź” is a valuable solution to a pressing issue.

Efforts aimed at attracting IT and BSS companies to Łódź have long been among the chief tasks performed by the Business Development and International Relations Bureau, also known as Invest in Lodz. Numbers reflect their efficiency. Reports drawn up by the City of Łódź Office in cooperation with Grafton and Michael Page confirmed that Łódź is a mature market. The city boasts more than 200 IT centers, over 100 SSC/GBS/CoE centers, and there are nearly 70,000 employees in the modern business services sector. Additionally, 19 Lodz-based universities and more than 70,000 active students act as a magnet for international investors who are locating their centers in the city.

Łódź stakeholders are well aware that a favorable investment climate should not be taken for granted – rather, it is the perfect moment to double down on their commitments.

In 2022, Invest in Lodz initiated a series of meetings with the BSS sector representatives, intended to highlight current challenges they face. The discussions had one common denominator, with HR-related matters taking center stage. This comes as no surprise given the competition for people between cities and companies has reached never-before-seen heights. The question lingering on everyone’s lips was how to make sure BSS companies present in Łódź can carry on growing, stay competitive and resilient to changing market conditions while offering Łódź-based specialists interesting and challenging projects?

Issues raised during the meetings were an incentive for the Invest in Lodz team and its institutional and business partners to take joint action and devise brand new educational programs, to be launched in the coming academic year. These comprise a postgraduate FinTech course at the University of Łódź, the “IT Executive Masterclass” program delivered in cooperation with CIONET, and a full-time postgraduate “AML Analyst – counteracting money laundering” course, also at the University of Łódź. Let's take a look at the first two programs in order to understand their underlying assumptions and how are they going to improve the Łódź BSS sector even further.

The FinTech postgraduate course owes its creation to the synergy between the University of Łódź, the City of Łódź Office and FinTech Central Poland – the premier fintech community association in Łódź. A full-time course, it will consist of a dozen on-site weekend sessions held between October 2023 and June 2024. It is designed for people who wish to strengthen their digital and finance competence.

The FinTech postgraduate course will comprise 300 hours of classes, all in the workshop format. Financial market practitioners – in particular representatives of

FinTech Central Poland companies – will deliver almost 200 hours of classes, and University of Łódź researchers will take care of the remaining 100 hours. Course participants will gain practical knowledge in several key areas: digitization trends in the financial sector, digital products and services design fundamentals, data analytics, and the use of data in business. The course will also stress the importance of developing soft skills, such as communication and teamwork.

Course founders are thoroughly convinced that the interplay between practice and theory shall equip students with all the relevant tools required to launch a fintech startup, take up a managerial position in a fintech company, or assume the role of a Product Owner, a Business Analyst, or a Specialist at a technology or finance company. This 9-months long course costs PLN 10,000 while members of the University of Łódź Alumni Club will receive a 10% discount.

The “IT Executive Masterclass” is another comprehensive and practical educational program. Dedicated for managers working in the tech industry, this program is the brainchild of Invest in Lodz in cooperation with CIONET. “IT Executive Masterclass” aims to strengthen and improve leadership skills in the areas of strategy building and management of technology companies.

It is a unique initiative on a nation-wide scale. Designed by experienced CIOs and market practitioners, the “IT Executive Masterclass” ensures genuine development of the skillset necessary for every successful IT industry manager. Course participants will learn about thriving companies, become familiar with groundbreaking technologies, understand professional best practices, and get to know the decision-makers shaping the tech landscape.

“IT Executive Masterclass” focuses on transferring the most valuable information in a time-conscious manner. Spread across five two-day sessions between October 2023 and May 2024 – two held in Łódź and two held in Warsaw – the program will be further supplemented by online classes. In total, there will be upwards of 80 hours of classes, workshops, seminars, and meetings with influential leaders; all delivered by recognized market practitioners.

Program participants will improve their knowledge in several key areas: digital transformation and innovation implementation, CIO-CFO cooperation, building a long-term IT strategy, enhancing communication skills, and developing managerial capabilities in diverse IT teams. The program costs amounted to PLN 23,000.

The Business Development and International Relations Bureau at the City of Lodz Office was substantively involved in the creation of both programs outlined above.

The main objective of the Invest in Łódź team is to support investment processes in the city, both at the location advisory stage and as part of post-investment care activities. Invest in Lodz plays the role of a facilitator between the worlds of academia and business, fostering pro-development initiatives, providing services and tools, and promoting Łódź's business brand. However, all of the above will only reach its full potential when employees already active in the Łódź business ecosystem are provided with the right conditions for continuous professional development. That’s why the Business Development and International Relations Bureau is proudly adding the role of “educator” to the already wide range of services it provides to the BSS community.

This article comes from magazine:
FOCUS ON Business #12 September-October (5/2023)