Transcribe
When you reflect back in edtech and also going global, what are the these are two different questions? What are the differences from nuances of as compared to your previous Journeys any major lies in my previous travel Guru or what are the new ones is a challenges of a tech. Maybe we'll start with that. It's what are the challenges of Ed Tech? Yeah in India or in general for you like what you have seen right? Was it different from other Industries? Okay. So with education I think I think that came Pros as well as cons. First is it's a large industry right? It's more than seven trillion broadly. Yeah, and if you start looking at just the online a professional education, it's 2 billion and then you can start breaking up into segments. So it's fairly large. There is no one dominant player. Like for example, there's no one who Burr there's no one Expedia Priceline as in travel, right? So there is enough in more room for different models to exist and each of these could be decent outcome. So that's actually a good thing because it's not a winner-takes-all type Market in And in those markets, you have to raise Capital quickly scale very quickly. Otherwise, you know, you might perish so that's very interesting the second. Is there a market nuances what what is important for somebody in India may be different for somebody in the u.s. Accenture having said that one of the challenges of education is it's super difficult to build a brand. I mean who are the brands and education that we value today? You will notice that typically they were started 300 500 hundred years ago or their alumni have um, you know CEOs or Chairman's of some very large and interesting companies, right? So either they have these really old vintage or their alumni have done. Well, or they had Nobel laureates, etc. Etc. So as a start-up, how do you compete on those two parameters and it's going to take you 30 years you have no Capital has that much patience, right? So when we understood that is a problem, we realized that but if you had the brand you can charge a premium so brand was a very difficult thing to build an education, but the people over A bear premium for it. So for us what the translated into was saying? Hey forget about even building a brand and a product will be a platform for universities in the best universities. We started out with us universities and European universities thinking that hey they don't they're not in India. They're not in Asia. So let's help them but increasingly will work with the best local University. So whether that's an XLR ion, I am or maybe in Latin America. Can we take the Monterey or una or in China? It can be single Peak? King right because they're also high quality. So the key insight for us was in education partner with high quality Brands versus time to be a brand yourself. So you bootstrap or almost bootstrap for like a better way with their Global Brands and then you establish Rachel. Now, you're launching. Your own Emirate is coaches. Also, we have a few courses in a matters which kind of a kind of Emeritus branded but see if you're looking from a for a good platform. You have to be two-sided. Yeah, right. So on the student side the fact that we have access they have access to a matters to the University's is one side of it. So what's in it for the University that's an important part of the equation and the big thing is that they can't Sicily make the investment in the tech. They don't want to be having 500 people. They don't want to be having feet on the ground in Mexico in Uruguay in India in Dubai and Singapore and China eventually, right? And so while they are great Brands they how have this however they built those great bands. It's through research and teaching. That's what they want to do. Do they want to do product creation. Do they want to write and build a tech platform? Do they want to do marketing and enrollment now, so at least a good partnership because we bring certain skills in this We leverage their intellectual Capital. The combination is what the student works, right? So it becomes a to Sidle model and that's interesting but isn't that what a mooc was supposed to do also provide that broader axis. So book was supposed to provide a broader access, but from a student's perspective no employer was willing to Value somebody say that here did a six week course and one on the moocs because there's no gating process of who gets in there is no gating process of who gets up. How about on the job site. Are you doing anything to help? Better from a guy's point of view. So our initial bunch of courses are predominantly skilled based courses right in eight weeks for an online course, you try to teach them a skill. What we then started doing are these nine-month courses? We call them diplomas postgraduate diplomas. So we have something in data science something in machine learning and there were teaching them a much broader toolkit in that particular area and then trying to marry that with some kind of job assistance. We haven't yet started. I mean, we're not as yet saying that will guarantee you a job, but we're trying to give you some kind of career coach in it. What kind of jobs we should you? Look at? What kind of how should you raise your may be written for that? How should you showcase your projects example in data science on GitHub Etc. So those are things that we handhold students are got it.