In CY 2021, 11 lakh Indian students had studied abroad. This is around 94% more when compared with the same period in the previous year, revealed the latest data by the Ministry of External Affairs (MEA). With the rise in demand for overseas education, it seems personalised learning has gained momentum among education institutions and consultants. Singapore-based overseas education company, WorldGrad aims to capture a significant portion of the market share through personalised learning to overseas education aspirants.“Each student is at a different level of preparation when it comes to adjusting to overseas education. This level varies on various factors such as which city or area they belong to within India, what subjects they had studied, which board they had graduated from and their socio-economic background and exposure to overseas culture, among others. Therefore we need to customise our education to bridge specific gaps between a particular student,” Abhinav Mital, co-founder, WorldGrad, told FE Education.
Launched in 2021, WorldGrad claims to have raised funds worth one million dollars from its parent organisation LINC Education. Backed with money, it has launched over 100 courses and programmes from universities and colleges across the United State, Australia, the United Kingdom, and Dubai. According to Mital, headquartered in Singapore, in its first six months of operations starting April 2021 has crossed a revenue of one million dollars. Mittal however refused to divulge further, when asked about the company’s net earnings and loss. Worldgrad claims to have set a target of five times growth in terms of revenue and team expansion in FY23.
The company claims to follow both business-to-business (B2B) and business-to-consumer (B2C) based business models. Under the B2B model, the company has claimed to set its target market based on universities offering fully online undergraduate and postgraduate courses, with focused areas in Australia, New Zealand, United Kingdom and the USA. Whereas, under the B2C model, the company claims to target students majorly between the age group of 18 to 25 years, in tier 1 and tier 2 cities, besides Asia Pacific. According to Mital, the key functions of WorldGrad include scholarship enablement, versatile course selection, loan support, IELTS/TOEFL preparation, and one to one tutor support after enrollment. It claims to work on a hybrid learning model enabled with artificial intelligence based tools such as LINCTrac to provide real time feedback to teachers and students.
In 2021, the company claims to have collaborated with five universities, which has increased to 83, currently. As per the company, it will invest in the following areas – talent acquisition, courses or university collaborations, research and development and marketing. The company which started with 70 non-teaching employees. “Within the next 18-24 months we will increase our strength by 500 people across all roles including teaching staff, content creators, operations, admissions and marketing, to take the total count to about 1,000. We plan to go from four markets to 15 markets in India. We have helped over 50,000 students in the last 12 months and we plan to take that to 5 lakh in the next few years,” Mital said. The company also aims to collaborate with over 200 universities by December 2022.