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Tuesday, July 23, 2024

How upskilling startup Scaler evolved from content to community-based learning

By 2026, there will be a more than 3.5X difference between supply and demand in the technology sector. With their edtech company Scaler, Abhimanyu Saxena and Anshuman Singh recognised an opportunity to close the gap.

The tech industry in India is expanding at an exponential rate. But it has also resulted in a talent shortage, particularly in huge organisations that are always looking for developers.

According to a NASSCOM analysis, this gap between tech demand and supply is anticipated to widen to almost 3.5X by 2026.

An opportunity to close the gap was recognised by Abhimanyu Saxena and Anshuman Singh, who collaborated with the engineering teams of Fab.com and Facebook, respectively. The co-founders of Scaler founded the edtech firm in 2019 with the goal of upskilling the nation’s tech workers and college students.

Building a high-performance tech team is one of the most important things for any software firm, according to co-founder Abhimanyu. We came to the conclusion that tech talent is extremely scarce.

According to him, “we felt that this is a very important problem statement to be solved as on one hand, industry growth is being stifled because there is not enough tech talent available in the country, and on the other hand, unemployment is a major issue for all the people who are graduating with engineering degrees.”

The founders launched InterviewBit in 2014 before Scaler. A free learning site with an emphasis on landing a job, InterviewBit was created on a similar principle as Coursera and edX.

It offered a six-month programme to get graduates and tech workers ready for tech company interviews.

The company organically onboarded three to four million users onto the network, according to the founders, but the percentage of course completion was relatively low.

Reflecting on the situation helped them recognise the importance of community-based mentoring and learning.

They studied the mentoring, community, and peer-to-peer learning strategies used by prestigious universities like MIT, which may be reproduced in India. Scaler, according to Abhimanyu, is based on that same idea. The upskilling portal, which once only offered one programme for software developers, now also provides courses in data science and machine learning.

According to Scaler, 2,500 new students are added each month, and since April 2019, the company has cumulatively onboarded and assisted 25,000 students. The company also revealed that its programmes result in an average pay increase of 2.3X and a 90% course completion rate as well as a 94% placement rate.

It also had a 2,51% two-year surge in its annual run rate, which increased from $4 million in October 2020 to $25 million in August 2022, a 100 percent increase over the previous two years. In addition, the business intends to introduce a product targeted at developing abilities while a student is in college in order to meet market expectations as soon as they graduate.

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