EDUGILD signs MoU to develop ecosystem for startups

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SME Times News Bureau | 04 Jun, 2016
EDUGILD, India's first edtech startup accelerator has signed a collaborative MoU with Cambridge University Press (CUP) India, to jointly support development of a strong edtech startup ecosystem in the country.

This is a pan India initiative with the potential to gain overseas impact – bringing alive the digital India vision for Indian edtech sector, said a press release on Friday.

The collaboration will manifest in catalyzing the tech startup ecosystem in the domain of education and evolved knowledge management including assistive technology based learning and development. The collaboration MoU was signed by Ratnesh Kumar Jha, Managing Director, Cambridge University Press, South Asia and Rishi Kapal, CEO of EDUGILD.

Rishi Kapal, CEO, EDUGILD said, "Edtech is core to EDUGILD experiences with MIT Pune being the core founding and knowledge partner. With three decades of educational experience, the group has unbeatable understanding of the ecosystem, CUP being the integral aspect of this journey. It is our belief that EDUGILD and CUP joining hands to strengthen this ecosystem is with the right meeting of minds and critical for a successful amalgamation of technology and industry expertise."

"I believe it is critical for us to nurture this ecosystem. In this spirit, we are delighted to join hands with the renowned ISDI to establish a design accelerator for startups. With this initiative, there is a strong assurance for success of edtech startups coming into the collective fold."

The MoU allows EDUGILD and Cambridge University Press to bring key stakeholders on a single platform– startups, mentors, early stage funding, publishing houses, corporates, subject matter experts, institutional partners and investors.

The strategic intent of both companies is to offer most critical resources like strong assessment and evaluation of startups to be accelerated, devising mentorship programs under joint guidance, knowledge management and success enhancement programs, facilitating institutional partnership for potential testing/test bedding of solutions in CUP ecosystem, to name a few.

The joint initiative is also expected to culminate into India's largest edtech forum and gathering of sectorial passionates.

Ratnesh Kumar Jha, Managing Director, Cambridge University Press, South Asia said, "The partnership with EDUGILD reinstates our support and vision towards contributing to the governments Digital India vision, and our commitment to spark innovation."

"We intend to evaluate entities and provide mentorship to start ups with interest in the field of education training, skill development and knowledge management. I am sure this is a step forward to empower innovation in digital education and provide a structured ecosystem to aspiring startups. We look forward to working closely with EDUGILD for the success and co-promotion of mutual strengths."

The EDUGILD Accelerator is now open to receiving applications for the second batch and has already commenced acceleration of its first batch of co-horts. These budding companies will get mentorship, seed funding, MPV solution development; product market fit guidance, customer acquisition support and access to high-ticket funds, as a part of the acceleration program.