Learning solutions provider TeamLease Edtech has launched Digivarsity, a tech-first platform that integrates academic learning with real-world experience for higher education learners.
According to the company, Digivarsity is India's first AI-powered work-integrated degree and career discovery platform and aims to “revolutionise” higher education in India and empower students with workplace skills along with academic knowledge necessary for long-term career success.
“Employers while hiring a fresh graduate feels they lack the experience and skills. To bridge this particular gap, we coined a product called work integrated degree program, which means that the students who are enrolling into these programs will go to a university and at the same time will be put on the job training. So 3 years of learning and 3 years of job training means that at the end of 3 years’ time the student will graduate with 3 years of work experience,” Shantanu Rooj, Founder and CEO TeamLease Edtech told CNBC-TV18.
Digivarsity has already partnered with the country’s top 10 universities and over 150 leading employers to offer innovative work-linked degree programmes, bridging the gap between education and employment.
“The students get a monthly stipend which is anywhere between Rs 9,000 to Rs 18,000 a month, depending on which sector and industry they are working in,” explained Rooj.
“Many employers are saying that along with the stipend, they are also willing to sponsor the course fees,” he added.
TeamLease Edtech is planning to add at least another two dozen universities, in the next 3 years. The company has also partnered with several PSUs for furthering the cause and reach of these work-integrated degree programmes, including the Board of Apprenticeship Training (BOAT-WR), CSC Academy, Assam Electronics Development Corporation (AMTRON), Government of Telangana, and AP State Council of Higher Education (APSCHE).
“Over the next five years, we will invest Rs 100 crore to scale Digivarsity and reach over 10 lakh students. The goal is to equip students with the skills demanded by the job market and shape the future workforce,” said Rooj. “The investments will go into technology enhancements, product development and market reach,” added Rooj.
Explaining how the platform taps into AI to personalise education, Rooj said, “The AI integration will help students select which type of sectors and what type of job roles they should pick up, where they can see a maximum chance of success. It will also help in candidate and employer matching.
The platform plans to onboard universities offering various modes of education, including campus-based, distance learning, and online programmes. The number of participating employers is expected to significantly grow, potentially reaching 3,000 to 5,000 companies in the next 24 months, the company said.
Employers have pledged Rs 25 crore in sponsorships for the current academic year, for deserving and eligible students. These scholarships are awarded based on merit and are open to all students. Sponsorship amounts range from 10 percent to 100 percent of the program fees, providing significant financial assistance to deserving learners, it added.
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