Skill Enable, the edtech start-up, has said it will provide scholarships up to Rs 1 lakh per student this year to encourage young minds to pursue data science as a career path. These scholarships will be offered to 500 students from across the country. The minimum scholarship per student is Rs 50,000 and the maximum is Rs 1 lakh, and the total amount allocated towards scholarships is about Rs 5 crore.
The start-up said it has set up a merit-based selection process to identify a student’s aptitude for data science. Students can attempt the scholarship eligibility test soon after the admission process, and scholarships cover data science, artificial intelligence and machine learning courses.
This is the first time the start-up has offered scholarships. Skill Enable identifies itself as an employability-focused edtech company that “finds, selects and nurtures data scientists.” It offers students tailor-made courses structured to meet industry needs, as well as trains them in soft skills such as job-relevant skill-set training, networking, interview practice, etc.
It runs on the income-sharing scheme format, under which students start paying Skill Enable the course fee when they start earning the minimum guaranteed salary or more. “Students have to pay Skill Enable a pre-defined percentage of their salary for a fixed period of time with a maximum repayment amount capped,” the start-up said.
India and the US together generate roughly 80% of Simplified revenue, which it aims to diversify by entering newer markets. The company will hire 500 more employees by the end of the current calendar year.
Simplified, which provides online certification training courses for professionals, plans to take its offerings to Saudi Arabia, Thailand, the United Arab Emirates, Singapore and South Africa by the end of this year. Currently, it derives its largest revenue from the US market, with India being a close second.
India and the US together generate roughly 80% of Simplified revenue, which it aims to diversify by entering newer markets. The company will hire 500 more employees by the end of the current calendar year.
About 7 million people visit the website every month from roughly 150 countries, of which 25,000 converts to Simplilearn’s paying customers, Krishna Kumar, founder & CEO of Simplifies, said.
Recently, the online boot camp and certification training provider introduced a job guarantee program that assures applicants a job paying a minimum of `500,000 per annum at the conclusion of the course. This promise is currently only for two of its programs, but will be stretched to cover a total of six courses in another three months.
In FY21, Simplilearn posted a profit of `28 crore on revenues of `357 crore. The company has not yet declared its earnings for the FY22 fiscal, but chances are that it may not post a profit, because of heavy marketing spends and expenditure on employees. Until 2020, Simplilearn provided 60 programs but will more than double that figure by offering 130 courses by end-2022, bolstering performance and helping it grow a phenomenal 70% y-o-y from the current fiscal, Kumar said.
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