$30m plan include faculty recruitments in various geographies
Edtech major and Asia’s largest Higher Education company upGrad has announced US$30 million investment for setting up 10 institute next year, five of which will be in India.
It has also announced an offline higher education under new brand “UGDX” which will open the five institutes in Delhi and Chennai in addition to its existing facilities in Mumbai, Hyderabad and Bangalore.
UGDX will also open three institutes in San Francisco and one each in Singapore and the Middle East.
The plan is also to have faculty recruitments in various geographies and use of technology to seamlessly integrate campuses, faculty and corporates within one ecosystem.
The ‘X” factor to UGDX is added by its recently acquired Data Science, AI, ML-focused offline institute – INSOFE, explained upGrad in a release on 7 Nov 2022.
UGDX will specialize in AI, Machine Learning, Cybersecurity, Blockchain, Connected Devices, IOT, Quantum Computing, Digital Management, Leadership courses and the Cloud, and will offer Certificates, Bachelor’s, Master’s, and Doctoral programs in these areas.
UGDX is slated to reach operational break-even in 5 quarters from its launch.
“As part of our goal to be the world’s first and largest fully integrated Higher Edtech company spanning college learners and working professionals from the age of 18 to 60+ years, this is a natural extension as we move to a very scaled blended offline and online model under our own upGrad brand,” said Ronnie Screwvala Co-founder and Chairperson of upGrad.
“UGDX’s Work-integrated education program is unique and sets it apart from traditional universities. Our DNA will be industry-centric, and we are creating programs that will prepare students to help corporates transform,” said Dr Dakshinamurthy Kolluru, Founder and CEO, upGrad INSOFE, who will also be heading the UGDX.
“Rich engagements with industry connections will also enable our learners with real-world experience from day one. All our programs have at least twice the number of capstones and project work compared to traditional programs.
“Every UGDX will have an incubation unit, to invest in IPs and foster budding entrepreneurs to formulate ideas and build patents which will be developed and nurtured inside the Institute itself,” he elaborated.
Dr Sridhar Pappu, President of UGDX, said, “As a premier institution, the impact on our learners and society at large, is extremely important to us.
“Hence, the faculty at UGDX shall work with multiple colleges in the nearby areas, and design free faculty development programs, bootcamps, and summer schools for socially and economically less-privileged students. We’re committed to creating digital transformation at all levels.”
Started in 2015, upGrad is a pioneer in the online education revolution, focused on powering career success for a global workforce of over 1.3 billion.
Already termed Asia’s higher EdTech leader, it has offices in the UK, U.S., Middle East, India, Singapore and Vietnam as well as a presence in many more countries. fiinews.com
