This idea could be a trendsetter even for other areas; that you don't have to move from office to office explaining your abilities but rather, perfect your skill and the employers can then pick on you easily. And if this is realised, that gap will definitely be bridged.
There has been a heated debate that journalism should retool. As you read through job adverts; many journalism job listings seem like they are meant for superhumans. And what do the employers really want???? Someone who can send tweets, post to Facebook, take photos, code interactive features, write stories, shoot videos, know all kinds of shots and be able to shoot a simple report among others. And guess what, you should also have an experience of 3 or more years. In reality, this will leave all fresh graduates unemployed. And yet our education system is not one that will offer these skills, all you get in addition to a transcript is a heap of notes. The idea of a student's radio and TV station is an incredible one because it exposes the students to employability skills, an experience of mainstream media and the chances of being identified for real employment. All the best of luck to the media challenge initiative; you are super amazing.