Started with ₹30,000, Odisha Founder Built a ₹10 Cr Edtech Venture
In today’s increasingly digital world, the demand for skilled professionals is on the rise. To bridge this gap, entrepreneurs are coming up with innovative solutions to upskill and reskill the Indian workforce. One such inspiring story is that of an Odisha-based entrepreneur who quit a lucrative job to start Skyy Skill Academy in 2018 with a meager investment of ₹30,000. Today, the edtech venture has grown to generate an annual revenue of ₹10 crore, trained over 2 lakh students, and placed 800+ individuals in jobs.
Meet the Founder
Meet Prashant Kumar, the founder and CEO of Skyy Skill Academy, who had a humble beginning. Before starting his entrepreneurial journey, Prashant was working as a software engineer at a leading IT firm, earning a salary in the range of ₹7-8 LPA. Despite the financial stability, Prashant had a passion for making a difference in the lives of others. He wanted to leverage his skills to create a positive impact on the society, and that’s when he decided to take the leap of faith.
The Idea
Skyy Skill Academy was born out of a desire to bridge the skill gap in the Indian job market. Prashant recognized that many students and working professionals lacked the necessary skills to compete in the industry. He believed that by providing relevant training and education, he could empower individuals to upskill and reskill, making them employable and self-sufficient.
The Journey
Prashant started Skyy Skill Academy in 2018 with an initial investment of ₹30,000. The venture began with a small team of three members, and Prashant took on multiple roles, including that of a teacher, marketer, and administrator. The initial days were challenging, as Prashant had to work tirelessly to build the brand and attract students.
The turning point came when Skyy Skill Academy started to gain traction. The team began to receive positive feedback from students, and the word-of-mouth publicity helped to attract more students. As the business grew, Prashant was able to hire more teachers and expand the course offerings.
The Growth Story
Today, Skyy Skill Academy has trained over 2 lakh students across various modes, including online and offline classes. The edtech venture has placed 800+ students in jobs, and the revenue has grown exponentially to ₹10 crore annually. The growth has been remarkable, considering the humble beginnings and the competitive landscape in the edtech space.
The Secret Sauce
So, what has contributed to Skyy Skill Academy’s success? According to Prashant, the key factors are:
- Focus on Employability: Skyy Skill Academy has always been focused on providing training that is relevant to the industry. The courses are designed to make students employable, and the curriculum is constantly updated to ensure that students are equipped with the latest skills.
- Personalized Learning: The edtech venture offers personalized learning experiences to students. The teachers are trained to understand the strengths and weaknesses of each student and provide customized guidance.
- Strong Industry Partnerships: Skyy Skill Academy has built strong partnerships with industry leaders, which enables the venture to stay updated on the latest trends and requirements. This also provides students with opportunities to intern and work with leading organizations.
- Innovative Marketing Strategies: The team at Skyy Skill Academy is innovative in their marketing strategies. They use social media, content marketing, and other digital channels to reach students and promote the brand.
The Road Ahead
Skyy Skill Academy is now looking to expand its operations and achieve even greater heights. The venture aims to reach an annual revenue of ₹25 crore by 2025 and is planning to set up Centers of Excellence (COEs) across the country. The COEs will provide specialized training to students in emerging technologies like AI, blockchain, and data science.
Prashant is also planning to establish a Skill University, which will offer degree programs in technology and vocational education. The university will be a game-changer in the edtech space, providing students with a comprehensive education that is relevant to the industry.
Conclusion
Prashant Kumar’s journey from a software engineer to an edtech entrepreneur is an inspiring story of passion, perseverance, and innovation. Skyy Skill Academy’s success is a testament to the power of entrepreneurial spirit and the potential of edtech to transform the Indian job market. As the venture continues to grow and expand, it will be exciting to see how Prashant and his team will shape the future of education and employment in India.
