upGrad’s Mayank Kumar steps down as IEC co-chair; PW’s Prateek Maheshwari assumes role

upGrad's Mayank Kumar informed IEC members about his decision to step down, stating his intention to focus more on the edtech company's operations.

upGrad’s Mayank Kumar steps down as IEC co-chair; PW’s Prateek Maheshwari assumes role

Tuesday October 03, 2023,

2 min Read

upGrad Co-founder and Managing Director Mayank Kumar has stepped down as the co-chairperson of the India Edtech Consortium (IEC). Meanwhile, Physics Wallah (PW) Co-founder Prateek Maheshwari has stepped into Kumar’s role.

"The past year and a half with IEC has been truly rewarding, but I've made a deliberate choice to prioritise my responsibilities at upGrad and move forward. upGrad is currently in a critical growth phase, requiring my full focus, attention, and time. Therefore, this decision feels appropriate and will enable another capable individual to step up and lead the consortium effectively," Kumar said in response to YourStory's queries.

He added, "I have had the opportunity to work alongside an incredible team and senior members of the Board and witness the growth and impact of our collective efforts."

YourStory has reached out to IEC and PhysicsWallah for comments.

IEC, a self-regulatory body formed under the aegis of the Internet and Mobile Association of India (IAMAI), was established in January 2022. Kumar was at the helm of IEC, alongside BYJU’S Co-founder Divya Gokulnath since 2022.

Moneycontrol was the first to report on the development.

IEC comprises Indian edtech startups, including upGrad, BYJU’S, Careers360, Classplus, Doubtnut, Times Edutech and Events Limited, Scaler, Simplilearn, Unacademy, and Vedantu, among others. It claims to represent 95% of the Indian learner community.

In November 2022, IEC had a meeting with Rohit Kumar Singh, Secretary of Consumer Affairs, to provide an update on their self-regulatory efforts. In a prior meeting in July, Singh had gathered edtech companies and warned them about unfair trade practices, such as misleading advertisements.

During the establishment of IEC, it was emphasised that under IAMAI’s guidance, edtech companies would follow a shared ‘Code of Conduct’ and establish a two-tier grievance redressal mechanism aimed at ensuring transparent business practices that prioritise customer interests.

(This copy was updated with a statement from upGrad's Mayank Kumar.)

Edited by Suman Singh