The online education sector in India is poised to see approximately 8x growth in the next five years, according to a joint report by Google and KPMG. This, in turn, will have a significant impact on the ed-tech market which has the potential to touch $1.96 billion by 2021. Currently, India has 3,651 ed-tech startups with offerings such as personalised assessments, VR content, parent engagement, gamification, language tools, and real-time scenario engagement, among others.
While their solutions may be the need of the hour, there are several challenges these startups need to face, the most common one being seed capital and getting a clear direction on how to kickstart. Other common challenges include frequent pivoting, deciding on the right time to go-to-market, hiring the right team, legal compliances, unaligned values, finding the right brand story, etc. UIncept (formerly UDGAM), a platform to create conducive opportunities for new-age entrepreneurs, has an incubation programme which helps these startups overcome these problems, and make them investment-ready.
UIncept Incubation program is a 11-month programme for idea and early-stage startups. Now in its fourth edition, the programme is focused on startups in ed-tech, e-learning, and skilltech. The objective is to identify 20 startups, help them build cutting-edge solutions through a scalable business model, and enable them to grow into investment-ready companies. Their long-term vision is to change the way we learn with the help of technology, and create #ABetterTomorrow.
Manish Gupta, Founder, UIncept, who has 25 years of experience in the education sector, says, “Edtech is bustling with opportunities in India, owing to rapid internet penetration and growing smartphone usage. The time is just right for the country to have a robust ecosystem of ed-tech entrepreneurs and investors supporting them to bridge the gaps in the learning sector. UIncept Incubation programme is a platform for young entrepreneurs to start their journey on a strong foundation, avail mentorship from the best in the industry, and turn their business ideas into investment-ready companies.” Since every business idea has a distinct need and needs to be treated differently for structured growth, the programme will be customised for each startup. The focus will be on milestones that define their growth and help them achieve set goals.
If you’re a startup working or aspiring to work in the areas of ed-tech, skill-tech, e-learning, edutainment, hobby, vocational training, corporate training, training in emerging technologies, you should definitely apply for the programme. Ideas will be selected based on the parameters of uniqueness, viability competency, and scalability.
The 11-month journey enables startups to develop sustainable business models through design thinking, insights into future technologies, financial analysis, digital product management, pitch techniques, exit strategies and investor sessions. In addition, the startups are mentored to master legal, financial, and administrative side of running a business.
In addition, you will get access to 12,000 sq.ft. world-class infrastructure with a well-appointed workspace, conference rooms, ideation labs with cutting-edge technologies, and other amenities to ensure a smooth work environment. That’s not all. You will also be mentored by an interdisciplinary team of seasoned experts from leading institutions like IIMs, NID, MICA, among others to help you validate your ideas. They will also share the best methodologies to build your business right.
Initially, financial support is always needed to help you be up and running, and UIncept takes care of that. You get free credits worth $10K from partner organisations like AWS, Digital Ocean, PayU, and more. There will be multiple pitch sessions planned for the startups to get a real-time understanding of creating pitch decks and working on investors. UIncept will also provide assistance with accommodation in Gurugram through partner co-living spaces.
At the end of the journey, the 20 selected startups will get an opportunity to pitch their refined ideas to potential investors on Demo Day, in addition to launching their startups in the market.
Over the years, UIncept has supported over 24 startups which have raised an amount of Rs 30 crore from investors. Prominent edtech startups like University Connection, Propelld, Nurtr, Studyapt, among others have become profitable businesses and/or secured further rounds of funding after being a part of this programme. This year, you could be one of them.
This is a once-in-a-lifetime opportunity to grow your learning curve, learn from renowned mentors, network and collaborate with the community, improve your soft skills, avail operational support, acquire funding, and get validation to take your idea to the market.