upGrad Has Announced An Investment Of Rs 500 Crore For Its Abroad Expansion
The overseas venture is backed up by renowned media entrepreneur and former UTV founder, Ronnie Screwvala.
A massive boost in the world of virtual higher education is sighted by RedSeer Management Consulting as the online education and lifelong learning industry is predicted to be a $5-billion market by Financial Year 2025. According to their recent analysis, it will be a 10 folds growth from $500 million in Financial Year 2020.
upGrad, which happens to be India's largest online higher education company has announced an investment of Rs 500 crore for its abroad expansion in the upcoming 18-24 months. The overseas venture is backed up by renowned media entrepreneur and former UTV founder, Ronnie Screwvala.
Besides providing their regular services, the vision to take upGrad overseas involves collaboration with leading educational institutions to international markets in the amalgamation of its curated content.
Along with spreading around markets like Asia-Pacific (APAC), Europe, and West Asia with its higher education programmes for both national and international working specialists and graduates, upGrad will spread its wings across other services like overseas education consulting. They will also be offering higher education programmes in collaboration with international universities.
“There are clear signs that the virtual mode of teaching is here to stay. Over the last few months, both educators and learners are getting increasingly comfortable with this medium. Software applications have also promptly responded to the situation by improving the user-friendliness of the applications to improve the effectiveness of virtual teaching. This will naturally contribute to more collaborations across academic institutions in different parts of the globe.”, Ajit Kumar Chaturvedi, Director, IIT Roorkee told BW Businesworld.
Currently, upGrad provides online programmes in data science, machine learning, technology, management, and law to college students, working professionals, and enterprises. These are delivered in collaboration with varsities and institutions, such as IIT Madras, IIIT Bangalore, MICA, Duke CE, and Liverpool John Moores University.