Prime Minister Narendra Modi inaugurates 16 residential schools in UP

Government News

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September 26, 2023

Prime Minister Narendra Modi opened 16 residential schools in Uttar Pradesh for underprivileged students. The schools were constructed for approximately Rs. 1,115 crore.

These schools, known as Atal Awasiya Vidyalayas, have been established to give orphans from the COVID-19 pandemic as well as the children of labourers and construction workers access to a high-quality education.

The vision of Atal Awasiya Vidyalaya is to foster excellence in every student, shaping them into individuals imbued with a range of qualities that build them to excel in future. The programme is aimed at imparting a basic and quality education to these children. The programme is proposed to be rolled out by the Uttar Pradesh Building and Other Construction Workers Welfare Board (UPBOCW), Department of Labour.

Prime Minister Modi talked with few students before dedicating these schools to the country. Each of the residential schools will have 1,000 students enrolled. It strives to increase access to high-quality education and support children’s overall development.

Each of the schools is built on an area of land that is between 10 and 15 acres large, and it includes a mini-auditorium, a hostel complex, a meal hall, and staff housing in addition to classrooms, playgrounds, and recreational facilities.

Infinity Learn by Sri Chaitanya’s revenue crosses over Rs 100 crore

Corporate Updates

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September 25, 2023

Infinity Learn by Sri Chaitanya claimed on Monday that it had achieved a remarkable feat by surpassing Rs 100 crore in revenue from operations, up from Rs 2.3 crore the year prior for the fiscal year ending March 31, 2023.

Infinity Learn’s outstanding financial results are a testament to its dedication to providing high-quality educational solutions and its ability to adapt and thrive in a dynamic market. Currently, Infinity Learn has over 750k subscribers and 7 Mn learners accessing content in some form on its platform. The company aims to reach over 50 Mn learners and 1Mn paid learners on its platform by 2025.

As per the official statement by the company, “We are the first company to have become PAT +ve (100 crore+) even before Series A Funding. When you consider that expenses have only increased by 2x during this time, this achievement is even more remarkable.”

This outstanding performance at both the expense and income levels led to a PAT level breakeven in 2022–23 as opposed to a loss of Rs 37 crore the year before. It stated that it could accomplish all of this in less than two years of operation and produced 2x the outcomes of previous EdTechs.

With an unfair advantage of Sri Chaitanya’s legacy, Infinity Learn codified years of best practices and outcome-based pedagogy into a system that delivers outcomes at scale. This makes Infinity Learn ‘India’s only Outcome based and profitable EdTech start-up’, but also continues to set new standards and inspire innovation in the education sector.

Ujjwal Singh, Founding CEO, Infinity Learn by Sri Chaitanya expressed his thoughts and said, “Navigating the ever-evolving EdTech landscape, Infinity Learn has soared with remarkable growth this year. In just over two years, we have not only upheld our relentless dedication to excellence but have also championed responsible growth.”

UK Universities in discussion with IITs to set up offshore campus

Higher Education

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September 22, 2023

UK is eager to welcome an Indian Institute of Technology (IIT) to establish an offshore campus in the nation. Some UK universities have already begun discussions with IITs to investigate the potential, according to senior British government officials.

According to officials, a number of UK universities are also interested in establishing branch campuses in India and are awaiting the University Grants Commission’s (UGC) final regulatory framework.

Steve Smith, International Education Champion, The UK government said, “Certainly, there has been a discussion about IITs setting up their campuses abroad. We have talked to the Indian High Commission in London because we think nothing would symbolize better the genuine two-way nature of the relationship between the two countries than IITs or other top institutions in India deciding to set up campuses in the UK. So we are very open to that.”

“I know that quite a lot of UK institutions have talked to IITs whether that would be a possibility. So again, it’s not going to be happening tomorrow but I do think that’s the trend for how the relationship will develop,” he added further.

Two IITs have already made announcements and formal agreements for the establishment of their offshore campuses. IIT Delhi is establishing an offshore campus in Abu Dhabi, whilst IIT Madras is establishing a campus in Tanzania’s Zanzibar.

Asked about whether UK universities are also exploring setting up their campuses in India, Smith responded, “The obvious answer is yes. UK colleges are looking into opening campuses in India. There is much interest. Of course, the first thing to do is to get the regulatory framework in order since, without an agreed-upon, signed, and sealed regulatory framework, no governing body anywhere in the world would consent to it. So over the past two or three years, we have made significant progress toward that goal.

The University Grants Commission (UGC) released draft norms for international universities setting up campuses in India in January of this year. However, no one has yet been informed of the final restrictions.

“I can assure you that while many universities are thinking about long-term physical presence, but again, we need to get everything finalized,” said Alison Barrett, Director India, British Council. so that obstacles are avoided. We are really interested in this happening here as well as the opening of Indian institutions in the UK.

Also Read | IIT Delhi’s campus in Abu Dhabi to provide world-class education opportunities

“We are really enthusiastic because real two-way relationships are the way of the future. Therefore, physical presences like branch campuses are very appealing to us. There are five UK universities that are particularly well-established in Malaysia. As a result, the UK university network has a lot of experience doing it. As a result, they are also quite interested in this possibility in India, according to Barrett.

Byju’s names Arjun Mohan as India CEO

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September 21, 2023

Edtech giant Byju’s promoted Arjun Mohan to CEO of its India operations on Wednesday. Mrinal Mohit, founding partner and outgoing head of the India business at Byju’s, will be replaced by Mohan as he sets out on a new path to pursue personal goals.

Before recently returning to the company, Mohan, who was a member of the founding team, most recently held the position of chief business officer. Working closely with founder and group CEO Byju Raveendran over the past three months. While not at Byju’s, Mohan spearheaded the edtech business UpGrad.

Presently, Byju’s is considering selling some of its subsidiaries in order to pay back its outstanding $1.2 billion Term Loan B (TLB) due to “difficult business restructuring”.

Even though there are many hurdles, Mohan remarked, “I am prepared to play my part in assisting Byju’s in empowering our present and future generations to succeed in a rapidly changing world.”

“Arjun’s expertise will undoubtedly help our turnaround efforts and strengthen our position in the global ed-tech landscape,” said Byju Raveendran.

In order to obtain between $800 million and $1 billion, Byju’s is considering selling at least two of its subsidiaries, Epic and Great Learning, according to rumors that the business has developed a plan to pay back its outstanding $1.2 billion Term Loan B (TLB).

The $22 billion-plus edtech giant also announced last week that, despite “difficult business restructuring,” it will shortly pay the complete and final settlement dues of laid-off employees.

Physics Wallah launches its first education-focused fund – ‘Physics Wallah Fund’

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September 20, 2023

Physics Wallah launched its first education-focused fund – Physics Wallah Fund in partnership with a peer-to-peer lending platform, Rang De.

The fund gives a return of 6 percent per annum for 36 months after which the principal will be returned to the investor.

The alliance was established to address the demand for easily accessible and reasonably priced student loans so that students could obtain top-notch, industry-relevant education.

As a result of this collaboration, students from low-income families will have access to low-interest, collateral-free education loans created especially for Physics Wallah’s Institute of Innovation, a four-year residential program in computer science and artificial intelligence.

The financial constraints that have historically prevented these children from accessing a high-quality education are being eliminated as a result of this collaboration.

Rang De and Physics Wallah will be able to increase educational opportunities and serve as a catalyst for promoting educational equality thanks to this relationship. The shared commitment intends to alter the landscape of educational accessibility in order to make a long-lasting difference.

The collaboration will enable each student to access an average of 3-4 lakhs worth of collateral-free loans through funds invested by social investors (lenders on Rang De’s platform), which can be repaid upon the completion of the course.

“This partnership is a pivotal step towards realising our mission of democratising education at scale in India. Our aim has always been to ensure that every child, regardless of their background, can access quality education affordably. We believe it will be a game changer in reshaping the landscape of education accessibility in India”, speaking on the association, Prateek Maheshwari, Co-Founder of Physics Wallah, said.

With the help of 8500+ social investors (regular people who lend via Rang De’s platform), Rang De has distributed over 60 crores in loans and completed more than 18k loans to rural entrepreneurs and students since 2019. The goal of this collaboration between Rang De and PW Institute of Innovation is to make quality education, training for industry-ready skills, and employment opportunities available to everybody.

“Quality education is a fundamental right for every individual, regardless of their financial situation. Since its inception, we have been unwaveringly committed to democratising access to credit and empowering people to improve their lives”, Commenting on the announcement, Smita Ram, CEO of Rang De, said.

AICTE & MoE embarks on a mission to enhance India’s semiconductor capabilities

Higher Education

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September 19, 2023

The Ministry of Education has started considerable initiatives to encourage talent development in this field, which is a crucial step toward improving India’s role in the advancement of the semiconductor sector. The Ministry of Education and All India Council for Technical Education (AICTE) has set out on an initiative to strengthen India’s semiconductor capabilities.

A high-level team headed by Prof. T. G. Sitharam, Chairman, AICTE, recently traveled to Taiwan for a week. A number of Memorandums of Understanding (MoUs) between Indian and Taiwanese academic institutions were made possible, thanks to the engagement of academic specialists and vice chancellors with various Taiwanese universities during this tour. These MoUs cover cooperative research and development initiatives, student exchange programs, and skill development.

This program is based on the understanding that semiconductors are essential to almost every aspect of the electronics industry and are expected to reach a trillion-dollar market by 2030. India wants to be a key player in the semiconductor industry, which calls for the development of a trained workforce.

This collaboration’s synergy between academia, business, and government is a distinguishing aspect. A few institutions that are solely focused on skill development act as training centers. These universities have been able to obtain industry certification thanks to support from business and the government. The long-term goal is to build similar training facilities in India to ensure that the labor force has the essential knowledge. Collaboration with Taiwan will speed up knowledge sharing and improve these initiatives.

In order to improve practical knowledge in the semiconductor industry, Prof. T G Sitharam underlined the significance of adopting Taiwan’s best practices with a focus on building comparable training facilities in India. To make these efforts a reality, AICTE is committed to collaborating closely with universities in Taiwan and India.

Currently, 128 universities use the AICTE model curriculum, and over the next few years, these programs are expected to produce about 8,000 qualified workers who will work in the semiconductor industry. The commitment of AICTE to raising these numbers demonstrates its commitment to achieving its goals of meeting the burgeoning needs of the semiconductor industry and fostering homegrown capabilities in this crucial industry.

Bhartiya Shiksha Board receives recognition as pan India Education Board by AICTE

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September 18, 2023

aicte with The Bhartiya Shiksha Board (BSB)

The Bhartiya Shiksha Board (BSB) has received recognition from the All India Council for Technical Education (AICTE) as a pan-India education board. The accreditation authority has instructed the engineering and technical colleges that it has accredited to take the BSB into account while choosing a school board for all of India. The Maharishi Sandipani Rashtriya Ved Vidya Pratishthan (MRVVP), according to the AICTE, formed the Bhartiya Shiksha Board on March 9, 2019. Additionally, the union education ministry’s higher education division has given its approval.

The Bhartiya Shiksha Board (BSB), founded by yoga teacher Ramdev and Patanjali’s Balkrishna, aims to re-establish Indian knowledge systems by discarding the education policy developed by Thomas Babington Macaulay and replacing it with Bhartiya Gyan Parampara (Indian knowledge tradition) and the Gurukul system. The BSB believes that the Macaulay education system, which the British introduced in the 19th century, is different from Indian culture and values.

The council further stated that BSBs now have the same status as school boards across the nation in accordance with the Association of Indian Universities. The Bhartiya Shiksha Board (BSB) would operate as a legitimate school Board within India after the AIU granted equivalency to its Class 10 and 12 board examinations, he continued.

By abandoning the education strategy created by Macaulay, the BSB seeks to restore the Indian knowledge systems. The Gurukul system, Bhartiya Gyan Parampara, and other knowledge systems are likewise intended to replace Western civilisation. Ramdev, Yoga Guru, and Balkrishna, a member of Patnajali, established the board.

Defence Minister approved the establishment of 23 New Sainik Schools

Government News

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September 16, 2023

The establishment of 100 new Sainik Schools in collaboration with NGOs, private schools, and state governments in a graded way starting from Class 6 has been given the go-ahead by the Indian government. A Memorandum of Agreement (MoA) has been signed by the Sainik Schools Society and 19 New Sainik Schools spread across the nation as part of this project.

Defence Minister approved the establishment of 23 New Sainik Schools Rajnath Singh has approved the establishment of 23 New Sainik Schools in partnership mode after further reviewing applications for new Sainik School openings. In addition to the 33 Sainik Schools now operating under the previous pattern, this initiative has resulted in the addition of 42 additional Sainik Schools operating in partnership mode under the auspices of the Sainik School Society.

The goals of Prime Minister Narendra Modi’s plan to build 100 new Sainik Schools are to give kids a quality education that is in line with the National Education Policy and to give them greater job prospects, including the opportunity to join the military. Additionally, it offers the corporate sector a chance to collaborate with the government to build the nation by preparing today’s youngsters to become responsible adults tomorrow.

The above 23 newly recognised Sainik Schools can be found on a state-by-state or UT-by-UT list at https://sainikschool.ncog.gov.in/.

MaGE launches Manipal Med Ace, a groundbreaking app for Medical Learning

Higher Education

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September 15, 2023

Manipal Global Education Services (MaGE) unveiled Manipal Med Ace, a groundbreaking “super” app for medical learning and medical PG prep, in a new mobile and cloud-first format.

Manipal MedAce is a comprehensive and outcome-driven resource based on academic and learner research. By providing MBBS students access to a Comprehensive and Curated Learning Resource on a Single Platform through its Learn Product, it enables them to augment their classroom learning. Additionally, it makes life easy for medical students by offering a personalised experience for PG aspirants with its prep product that is effective, clutter-free, and stress-free.

Ranjan Pai, Chairman, Manipal Education and Medical Group (MEMG) spoke on the occasion and said, “The Manipal Group has developed a number of ground-breaking projects over the years that have paved the road for advancement globally, empowering people and altering lives. We are fusing our love of innovation with a desire to make a difference in medical education by assisting students in becoming even better doctors through Manipal MedAce. I am aware first-hand of the difficulties MBBS students have, and Manipal MedAce is our attempt to develop a learning catalyst for students.”

“Manipal MedAce brings together our rich heritage and expertise in medical education and a deep, well-researched understanding of the pulse of learners,” stated Ravi Panchanadan, Managing Director & CEO – Manipal Global Education Services (MaGE), at the launch.

“We have merged over 60 years of experience in top-tier medical material delivery with the most up-to-date digital technology to create MedAce, a user-friendly platform that will engage learners in a format or on form factors they are accustomed to in their daily lives. By making learning fun and engaging for medical students through Manipal MedAce, we hope to improve their lives and position them for success along the way”, he added.

K-12 Techno Services receives funding from Kedaara Capital

Corporate Updates

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September 14, 2023

K-12 Techno Services Private Limited, a provider of educational and technological services, has received funding from Kedaara Capital. According to the company, Peak XV Partners (formerly known as Sequoia Capital India) will be able to partially exit.

K12 Techno Services, a company that provides both technology and education services to over 900 educational institutions across the country from a wide selection of education, content, and technology solutions.

Although the current investment numbers have not been disclosed right now. However, earlier it was said that private equity investor Kedara Capital is likely to invest close to Rs 1000 crore into K-12 Techno Services.

Jai Decosta, CEO, K-12 Techno Services said, “We are delighted to welcome Kedaara as a valued partner for the next phase of our growth, as it symbolizes a convergence of values and aspirations, and will help us continue to deliver on our mission to make an impact in the K-12 space in India.”

This partnership, according to K12 Techno Services, would strengthen the business’ tech-enabled capabilities and help it deliver top-notch holistic education services to Indian kids and schools.

“K12 Techno has done tremendous work to help schools bridge this gap by leveraging technology and process orientation. We are excited to partner with Jai and the K12 Techno team to help them accelerate their growth and further their goal of providing world-class holistic education services across India at affordable price points,” said Sunish Sharma, Founder and Managing Partner and Anant Gupta, Managing Director, Kedaara Capital.

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