The Hero Group has launched an edtech company called Hero Vired. Aimed at upskilling and reskilling India’s professional community, it will offer programmes and courses in collaboration with the Massachusetts Institute of Technology (MIT), Singularity University, and Codecademy (the American online platform that offers free coding classes).
Akshay Munjal, founder & CEO, Hero Vired, said the initial investment in the venture is upwards of $10 million, all from the Hero family.
Hero Vired will start by offering certificate programmes in finance and related technologies; integrated programmes in data science, machine learning and artificial intelligence; full-stack development; game design; and entrepreneurial thinking and innovation. Future programmes, the edtech firm said, will cut across domains such as design, electronics, leadership, health management and emerging technologies.
According to the recent Omidyar Network India-RedSeer Report on edtech in India, by 2022 the post-K12 market will be a $1.8-billion opportunity. This segment of edtech is divided into four sub-segments: higher education, technical skilling, test preparation for government jobs and test preparation for other jobs.
Munjal said: “India faces a unique ‘employability paradox’ where there is a shortage of highly-skilled professionals, and yet graduates find it difficult to secure suitable jobs due to lack of skill-sets that are imperative for Industry 4.1. The Digital India initiative under the National Education Policy underlines the need for strengthening the online learning infrastructure that ensures equitable access to the highest-quality education for all learners and learning flexibility through the academic banking of credits.”
This new initiative, Munjal added, will offer a mix of programmes—some aimed at working professionals with classes over the weekends, and others for young professionals who are looking for a more intensive full-time experience. “The programmes will focus on one-on-one interactive sessions with all learners for live online classes, doubt clarification and personalised mentorship sessions,” he said.
This year Hero Vired aims to train 1,500 professionals, and then scale up in numbers.
In 2014, the Hero Group had started the BML Munjal University in the outskirts of Gurgaon. “We have always ensured dissemination of practical knowledge benchmarked to global standards, and Hero Vired is a step ahead in this direction,” Munjal, who is also the president of BML Munjal University, said.
The Hero Group also runs Hero Mindmine, an organisation in the space of business and people transformation through training and consulting services.