upGrad is helping working professionals to upgrade their knowledge and skills, or even reskill for new careers, while simultaneously discharging their other responsibilities. It curates its courses in tune with current industry requirements by integrating latest learning technologies.
The emerging EdTech sector is a ray of hope in bringing systemic reforms in the education sector. The education ecosystem of the country is being disrupted by the booming educational startup companies providing digital and online solutions to learners. One such online higher education platform, upGrad, was launched by Ronnie Screwvala, Mayank Kumar, Ravjot Chugh and Phalgun Kompalli in 2015. The platform has been applauded for providing seamless industry-learning linkages, much sought after in India where traditional education system has been marred by many handicaps.
Handicaps of Traditional Learning System
Conventional education system has often been criticized for not being able to provide students with the requisite skills and knowledge essential to make them employable. The lack of education-industry linkages has created a situation where the aims and interests of the two don’t converge. This has given rise to a grim scenario where more than 50 percent of students graduating from higher education institutes are not employable.
According to a study by Aspiring Minds, an employability assessment company, 95 percent of engineers in the country were not fit for software development jobs in 2018. Traditional education has been despairingly unsuccessful in bridging this gap and meeting one of its most important goals of enabling individuals to earn their livelihood.
Apart from unemployability, another issue of concern is increasing job dissatisfaction among the Indian youth, leading them to switch from one career to another. The education system also doesn’t provide with any support to individuals who are at a juncture where they are heavily loaded with their personal responsibilities along with an urge to swap to an entirely new career requiring new set of skills and abilities.
upGrad, a Welcome Change
With its vision to build careers of tomorrow, upGrad integrates holistic digital educational experiences, with information from industries regarding emerging trends, to provide rigorous industry relevant programs for working professionals and college students. These online programs are designed and delivered in collaboration with world-class faculty and industry.
upGrad has partnered with academic institutions like BITS Pilani, IIIT-Bangalore, Cambridge Judge Business School of executive education, MICA, etc. and has collaborated with companies like Google, Flipkart, OYO etc. to provide world-class personalized education. It caters to the needs of two kind of people — first, people who are yet to begin their career or are in the early phases of their career; and second, people who are in mid of their career but are looking to shift into other domains.
The programs which upGrad offers are the ones which are most in-demand today like artificial intelligence, machine learning, data analytics, full-stack development, digital media and marketing, cloud computing, MBA, and entrepreneurship. As of now, it offers about 35 online programs to more than 30, 00,000 users.
Remarkable Business Growth
upGrad reported 113 percent increase in its gross revenue in the FY2019 and is aiming for INR 250 Cr gross revenue in FY2020. To this end, it is adopting multipronged strategies to increase its reach including strengthening of its senior leadership team. It currently has over 400 employees and planning to add 100 more employees by this financial year.
Vicky Kaushal, the actor, is the brand ambassador of upGrad. A 100 crore fund has also been earmarked for providing scholarships to students who get registered with the upGrad program. The Mumbai-based company is creating industry linkages to provide learners with such courses which provide 100 percent placement opportunities. It has partnered with HDFC life insurance to provide PG in Life Insurance with complete job guarantee.
It has also collaborated with Liverpool John Moores University for its master degree program in data sciences. upgrad is helping people to upskill and reskill in consonance with the 21st century learning skills which require every individual to continuously learn in order to avoid their skills becoming redundant and obsolete with time.