The divide between education models and fast changing industry has only accelerated post “app-revolution”. This created opportunities for individuals to explore virtually anything however created new expectations and challenges for existing education societies to change and adapt at fast pace. Today, students see less value in current methodology and modalities of education due to the lack of engagements which they are used-to now on their digital playground (app, internet and social connect). They are willing to explore and validate knowledge and applications of knowledge at the same time while validating the concepts.
The above challenges are being addressed by many start-ups while few are bridging gaps in existing methods and others by increasing collaboration between industries with the help of technology. The EdTech start-ups like “VNurt Technology Solutions Private Limited” and its product work4skils encourage students to engage early and learn first-hand about concepts and application at the same time using heuristic-based learning methods, it involves standard feedback and correction method including daily scrum and code review, etc. VNurt used technology like remote work, virtual meetings, status tracking, and monitoring, and AI for the evaluation of candidates.
VNurt’s heuristic learning model and story-telling methods have helped 1000s students get into top organizations directly and indirectly by introducing students to right tools, methods and business skills. Their adherence is onto productivity, deferred evaluation and constructive feedback to students while working on real projects with real problems. They focus on technical skills while balancing the interpersonal skills and process adherence and the secret ingredient here is time which helps everyone get the better results.
The main output of above process is a score using an algorithm and evaluation on 100+ parameters. This gives employer detailed insight into techno-functional aspects of candidates. VNurt works as cyclic feedback enabler for academia and industry which helps all entities involved in this cycle i.e. Student, College, Professionals and Organizations equally.
DISTINCT SERVICES AND PRODUCTS
Work4Skills is a cyclic product which engage selected students early and showcases skills by working on real world use-cases with mentor and have opportunity to apply concepts they had learnt. Students collaborate and operate in company like incubators (local or remote). Students get a chance to understand what functional area suites them better and what carrier path they should choose.
Once a student graduates from the program, they are pooled in groups based on their performance and interest area. The pools are availed to partner organization based on project needs given by them. This saves 40% effort and resources for organizations in hiring, onboarding and training. An organizations may save around 6 months of training time, cost and loss of productivity. Average monetary impact is ~2 Lakh per hire can be mitigated. The quality of interns and the commitment towards organizations is bundled extra.
Their tech services has proven to be helpful for start-ups and mid-size organizations by building strong entry-level engineering teams with minimal cost. Their delivery models are designed to handle industry ready and not-ready students. The BootCamp model is capable of creating a complimentary team within a week by deep focus onto “Day 1 Productivity” which is the exit criteria for all graduates. Additionally their talent acquisition services is helping organizations reduce nuances between Technical Team, HR Team, Consultant and Candidates. VNurt had evolved a model where Project team is interviewed for requirements which alone had improved hiring by 20% when coupled with “Only Screened Candidates” policy where they bridge the Technical and hiring parameters have reduced hiring cost and time by almost 30%. VNurt Technology is working on a product which will close these gaps and make hiring 40% more efficient for organizations while hiring experienced candidates.
“Industry Exposure in University Campus”
STRATEGIES TO MARKET VNURT
VNurt is working on a model where their graduated candidates become mentor and ambassador and start earning via platform. VNurt does not want to go big-bang and scale gradually to keep investments and risks low while building our platform. The strategy is to leverage on experiences of happy customers like industry, academia and professionals and capitalize on their network (online and offline). The free engagement and paid-mentoring model have brought them great market and built commitment towards the community.
INNOVATIVE APPROACHES ADOPTED TO ENHANCE THE QUALITY
VNurt Technology has innovated in areas of delivery, engagements and execution to improve the quality of solutions and graduates equally. The unique blend of the recipe is to create industry like setup and environment, on-campus incubators and feedback loop for students engaged in our projects. Their unique “Rapid-Screening” process and “Interviewing Project Team” in talent acquisition had a dramatic effect on duration and quality of new hires.
Their scoring algorithm which is in infancy now will be a game-changer for organizations and students. Coupled with AI and Data Science it will boost the efficiency of the hiring process by 50%. Their software solution is addressing the gaps in current educational and hiring practices effectively while addressing the challenges faced by the educationist as well e.g.
- Bringing in application to the education
- Setting up a feedback loop for Industry and academia
- Capitalize on existing Infrastructure of Universities
- Compliment faculties with qualified mentors/professionals
- Focus on Business skill and project model
- Eliminate myopic exam results approach
- Evaluate students on broader set of parameters
The solutions need to be innovative and should work along-with existing system to reduce resistance for change. Manual validation of the new system and incorporating changes into the technical framework was another method that had helped VNurt not to build big and fail rather it allowed them to go lean and improvise fast.
OVERCOMING CHALLENGES LIKE A LEADER
One major challenge that is faced by VNurt is the validation of their business model as it is difficult to change the mindset of the traditional educationists experiment with ideas and be agile. Similarly convincing the corporation about “Day 1 productivity” and proving it with their delivery and feedback mechanism was not an easy task hence we prefer to work with start-ups and mid-size organizations as they are more open and ready for experimentation. The most challenging decision was to not monetize on students for our offerings as it goes not only against the ethics and values of the company. This inflated their initial costs and they rely on payments that are late and might be at risk when the industry is not doing well. They faced failures in B2B and B2C models hence they devised their model to work on this unique equation and it started paying off.
VNurt is positioned right in the middle of the Education Industry. They want to gradually drill to higher and primary education too and they support rapid changes and innovation in the education domain. Their offerings and positioning make them a unique solution provider yet they want to tap on technology to assist the overall quality and delivery.
LATEST ADVANCEMENTS AND INNOVATIONS IN EDUCATION SECTOR
The Internet had changed the landscape of our societies and has almost become synonymous with education. The speed and magnitude of this impact will grow in the future with further advancements and VNurt is perfectly positioned to reflect the impact and changes from Industry to academia. They had proven their “Day 1 Productivity” model by placing their graduates as lateral hires. VNurt is scaling this in 2020 and once fully functional it will save about 30% costs and improve the quality of new hires by 50%.
FUTURE OF YOUR COMPANY
VNurt has a bright future and they invested more time and energy to validate the cyclic nature of their business model. VNurt has been able to scale slowly post model validation and been profitable without major financial expenses. Due to the yearly process of validation and non-agility of academia, the outcomes were delayed yet they are not erroneous. Their mission is to avail best practices from industry to academia and ensure “Day 1 Productivity” into graduates by acquiring knowledge, skills, and application.
In their talent acquisition service, the objective is to bridge the gap between Hiring Manager, HR, interviewer/project team, and the recruitment consultant. They want to make the entire process more efficient which can help the closing of positions faster and saves 50% of productivity loss on Talent Acquisition. Their solution will enhance the quality of fresh and lateral hires equally.
Hemant – Co-Founder
An IIM Bangalore Alumni who is passionate about entrepreneurship and whatever he does. He loves to talk about new ideas and he is also a marketer by choice. Hemant is playing all the possible roles required to take VNurt to the next level.
Amit – Co-Founder
A product person works to strike an optimum balance between product, people and processes. He is a passionate entrepreneur, responsible for strategic direction, execution of decisions, building partnerships and strategic alliances.
Shri Dutta – Co-Founder
Responsible for VNurt’s technical vision, product contemplation to execution. Likes to observe and engage closely in user touchpoints of system.
CLOSING WITH A QUOTE
“Education without application is equally incomplete as Application without Knowledge. Somewhere in the middle lies the perfect mix and there we are, Nurturing Talent” We are VNurt.