HIGHER LEARNING EDTECH ERUDITUS
How to use performance improvement plan as a recovery period to bounce back higher
Nirupama VG, Founder, AdAstra Consultants, says performance improvement plans (PIPs) often carry a stigma, signalling underperformance or imminent termination. However, they can also be pivotal moments for employees to reset and excel.
Happiest Minds focusing on areas like analytics, automation, gen AI and security: Joseph Anantharaju
Venkatraman Narayanan and Joseph Anantharaju of Happiest Minds outline positive Q4 results and strategic plans for FY25, leveraging recent acquisitions for growth and aiming for 35-40% revenue growth with a 20-24% margin target. Strong focus on organic and inorganic growth strategies.
Investor funding in edtech drives behaviour which is not good for industry: Byju's Aakash CEO
Byju's AESL's CEO Deepak Mehrotra raised concerns about investor-driven behavior in edtech, emphasizing the inadequacy of digital tools for medical and engineering aspirants. He highlighted the need to address new learners' requirements and discussed industry challenges and his background.
Returning to school through online learning: The benefits, opportunities and challenges
Online learning platforms offer flexible, recognized degrees and personalized experiences for career advancement. Learners value micro-credentials for job success. Choosing the right course depends on personal needs and career goals, ensuring a focused learning experience.
Maharashtra govt, TeamLease EdTech & NSDC partner to boost employability of state’s youth
TeamLease EdTech, the Department of Higher & Technical Education (DHTE) of the Government of Maharashtra, and the National Skill Development Corporation (NSDC) have formed a partnership to enhance the employability of Maharashtra's youth.
Amazon’s Bazaar to challenge Meesho; AI & edtech
Amazon has started onboarding sellers from across the country and is asking them to list unbranded products, priced at Rs 600 or less. The platform will offer products like apparel, watches, shoes, jewellery and luggage.
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Edtech’s AI push has its share of doubting Thomases
Higher education, upskilling platforms likely to benefit more than startups servicing schools and students on large scale
TeamLease Edtech, NSDC enter partnership to foster employability through skill development
TeamLease EdTech and NSDC have partnered to endorse work-integrated degree programmes through Digivarsity, a tech-first platform, synergising with Skill India Digital. The initiative equips students with workplace skills, providing enhanced access to higher education and employment opportunities. Students gain on-the-job internships, apprenticeships, and a monthly stipend.
Post Byju’s, investors worried about governance at startups: GSV Ventures' Deborah Quazzo
GSV Ventures has backed Indian edtech unicorns including Eruditus, Lead, PhysicsWallah as well as startups like Classplus. Deborah Quazzo also spoke about the lack of equilibrium between edtech founders and investors on valuations, which is delaying fundraises in the sector.
We aim to democratise foreign education for students in lower income brackets and in smaller towns: GradRight
GradRight claims to have processed loan requests exceeding $2 billion and assisted over 60,000 students in just two years.
US lenders drag Byju’s to bankruptcy court in India
The lenders have been in negotiation with the company over prepayment of a $1.2 billion term loan taken by its US subsidiary, Byju's Alpha, even as the two sides also continued to fight a legal battle in US courts.
Byju’s rights issue at $500 million valuation; what’s hurting cloud kitchens?
Happy Wednesday! Beleaguered edtech major Byju’s finally filed its much-delayed audited FY22 results with the Registrar of Companies. It’s also holding talks to float a rights issue at a valuation of less than $1 billion. Yes, you heard it right. More on that in today’s ETtech Morning Dispatch.
Eruditus joins queue of reverse flips by Indian startups, weighs IPO
Edtech unicorn Eruditus is planning a shift in domicile from Singapore to India, or reverse flipping, and joins the growing list of Indian internet firms — Pine Labs, Udaan, Razorpay and Groww, among others. Eruditus is evaluating a listing on the domestic bourses.
Eruditus plans India flip; Ayodhya boost for spiritual apps
Indian IT majors are eyeing upcoming US federal contracts as several large deals are set for renewal in the next two quarters. While it is still challenging for Indian companies to win these contracts, there is a more positive attitude towards Indian-heritage suppliers.
TeamLease EdTech teams up with Andhra govt to launch internship platform for graduating students
The platform aims to enhance the employability of students by bridging the gap between education and industry requirements. It will provide 50,000 internships within the state of Andhra Pradesh, ensuring a smooth transition from academia to the professional world. This initiative underscores the importance of practical experience in complementing academic learning and contributes to making Andhra Pradesh a hub of skilled and employable graduates.
ETS India signs MoU with Physics Wallah to help study-abroad aspirants prepare for TOEFL, GRE
To provide holistic guidance and support to students aspiring to study in leading international universities and help them prepare for the GRE and TOEFL exams, Educational Testing Service (ETS) India has signed a memorandum of understanding with Physics Wallah (PW). As part of the collaboration, students will be provided free one-on-one counselling sessions.
TeamLease EdTech, IIT Patna and NSDC ink MOU to strengthen graduate employability
The partnership will facilitate a new set of Work-linked Degree Programs that would signal high-quality academics, skill-building and employer connectivity.
Five key developments at tottering edtech Byju’s
The troubled edtech is mired in multiple issues, such as repayment of a $1.2 billion term loan, and is the subject of a government probe.
Online math learning platform Cuemath lays off 100 more staff: Report
In May, the company had laid off about 100 employees to improve efficiencies amid a worsening global landscape for K-12 edtech.
Bengaluru fresher hiring sentiment down by 10%, hit by slump in IT sector
The city is suffering a decline in terms of year-on-year comparison as well, with hiring intent up to 68% last year. However, Bengaluru companies still have the highest hiring intent for freshers in the country, followed by Mumbai at 61% and Chennai at 47%.
Indian edtech companies eye larger offline play in post-pandemic world
The edtech sector scaled record highs during the pandemic as education moved online, but has since been among the worst affected in terms of funding and layoffs, particularly in the tuition, K12 and test-prep segments.
Exclusive: Byju’s, lenders agree to alter terms of $1.2 billion loan
Creditors could drop the demand for accelerated repayment; all litigations may come to an end if talks turn out to be fruitful.
TeamLease Edtech launches AI-powered work-integrated degree and career discovery platform Digivarsity
Digivarsity has already partnered with ten universities in India and over 150 employers to offer innovative work-linked degree programs. It enables students to make informed choices about their education and gain practical work experience alongside their college studies.
Exclusive: Upgrad in talks to buy majority stake in US edtech firm Udacity
The American edtech has been in talks with multiple suitors. If this deal goes through, it would be at a significant discount to its peak valuation of $1 billion.
Eruditus FY22 revenue up 87%; loss excluding exceptional items at $66 million
In the financial year ending FY21, Eruditus had reported a cash loss of $31 million, filings reviewed by ET showed. The Mumbai-based edtech unicorn’s total net loss swelled by 46% to $386.82 million, including exceptional items, the filings showed.
Indian women queue up for STEM courses at edtechs
Women are making a beeline for science, technology, engineering, and mathematics (STEM)-related online courses, driven by the need to upskill themselves in emerging technology for potentially high-paying and fulfilling careers. With most companies still operating in hybrid mode, women also have greater flexibility to balance work and personal responsibilities, making it easier for them to take time for online courses and invest in upskilling, say experts.
Upskilling companies see brisk business as K-12, test prep stall
Upskilling startup founders told ET that they are expecting to clock a strong rate of growth in the ongoing year even as a funding crunch has set in the broader edtech sector.
Amid layoffs, clutch of edtech firms roll out hikes and ESOPS
Edtech startups like Eruditus and Emeritus, Classplus, BrightCHAMPS, among others, are looking to reward employees through increments. Others like LEAD and upGrad are giving out generous stock options, while Vedantu, which has had four rounds of layoffs, will be giving out incentives with no upper limits/caps to employees achieving defined milestones and a performance-based year-end bonus.
Pay hike on the cards for edtech employees after an edgy 2022
Edtech startups like Eruditus and Emeritus, Classplus, BrightCHAMPS among others are looking to reward employees through increments.
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