Up to now, outcome-focussed skilling startup Masai College has partnered with 2,000+ firms to assist them rent job-ready tech workers by way of its platform
It informed Inc42 that unicorns comparable to Paytm, Swiggy and Dream11 and legacy gamers comparable to Capgemini, IBM, Tech Mahindra and HCL Applied sciences have employed Masai college students for numerous tech roles
The edtech platform says that 96% of its engineers get positioned inside 4 months in fact completion and the retention fee at firms is 94% for at the very least one yr
The pandemic modified how enterprises have been run, and companies have been executed. To counter its crippling influence, most firms took a leap of tech to muscle their distant/hybrid operations, which deepened their reliance on cutting-edge applied sciences. However this additionally resulted in an enormous shift within the job market as startups and the company sector went resource-hunting for job-ready tech expertise.
Though working information of recent tech mandates a steep studying curve, it mustn’t have troubled tech-driven firms.
With 3,500 engineering schools, 3,400 polytechnics and 200 faculties of planning and structure, India boasts one of many largest ecosystems constructed round tech training. Numberwise, the nation produces greater than 15 Lakh engineering graduates yearly. However solely 2.5 Lakh of them land related jobs within the technical area, in accordance with {industry} estimates.
This might additionally clarify why 60% of Indian firms have recognized ability gaps as their largest problem in 2022.
Based in 2019, Masai College is on a mission to assist younger Indians discover profitable job alternatives within the IT sector by honing their tech expertise and connecting them with legacy tech firms and startups.
The platform gives long- and short-term programs in full-stack net growth and knowledge analytics.
It says that 96% of its college students get positioned inside 4 months of graduating from Masai. It additional added that the job acceptance fee is 90%, and the retention fee at firms is 94% for at the very least one yr.
Up to now, Masai College has tied up with greater than 2,000 firms to assist them discover industry-ready tech expertise. Amongst its B2B companions in search of candidates for numerous tech roles are large IT firms like IBM, HCL Applied sciences, Tech Mahindra, Capgemini, and startup unicorns throughout sectors comparable to Paytm, Swiggy, Dream11, Ola, ShareChat, and CoinSwitch Kuber.
The skilling startup claims that within the final 12 months, it has witnessed a 10x progress in the variety of B2B hiring companions. It’s now focusing on INR 120 Cr in income in FY23, greater than a 6x soar from INR 19 Cr in FY22.
A Skilling Institute Constructed On Historic Tribal Knowledge
An IIT-Kanpur alumnus, Shukla knew his approach round constructing a enterprise lengthy earlier than Masai College got here into the image. In 2013, he launched a home-rental market Grabhouse, which was acquired by Quikr three years later. Put up-acquisition, Shukla spent a yr because the enterprise head at Quikr after which went on a visit to East Africa.
It was a life-altering expertise. He was impressed by the Maasai tribe residing within the area and their dynamic expertise in constructing real-world purposes.
“The Maasai tribe doesn’t imagine in formal training. As an alternative, individuals spend their total lives honing expertise as cultivators, builders and technicians. It’s this sturdy approach of studying [the basics] that has stored the tribe and their traditions alive for generations,” stated Shukla.
Shukla, together with Yogesh Bhat, a former enterprise head at Tata Motors and NrupulDev, former tech head at AI startup Digital Aristotle determined to arrange Masai faculty to coach younger individuals alongside these historic however sensible rules.
In essence, it’s a platform for coding lovers, particularly these from Tier 2 and three areas, serving to them grow to be industry-ready software program builders, knowledge analysts and knowledge scientists.
Its in-house consultants and mentors are tech professionals from the IT {industry} who’re well-versed within the present and upcoming expertise panorama. The startup has 246 full-time instructors in place. Most famous amongst them are Ritesh Firodiya, former senior software program engineer of Swiggy; Arjun Thakur, former growth engineer of Amazon; and the cofounders, Dev and Bhat.
Masai seeks common suggestions from its placement companions to make sure that the programs are updated with job market developments. “We create modules and implement adjustments for each cohort to cater to the altering tech necessities,” stated Shukla.
The result: Tech engineers within the making now not depend upon outdated programmes or conventional levels to land an excellent job.
How Masai College Leaps Previous Hurdles To Carry Tech Expertise To Firms
For Masai, the most important problem lies in convincing firms that college students with out full-time engineering levels can undertake coding and analytical jobs.
“We’re engaged on a mindset change, and that’s our largest problem. Most firms know the pitfalls of hiring underprepared graduates however are unwilling to maneuver away from diploma necessities,” rued Shukla.
Nevertheless, he revealed that the startup ecosystem was initially extra open-minded and took a leap of religion with Masai graduates. This paved the trail for a wider attain.
“We had nice success with startups and our college students typically outperform these with fancy engineering levels. Their success has truly helped us transfer the needle. In the present day, many legacy firms have up to date their hiring necessities to allow them to rent expert entry-level expertise from us,” he added.
As an illustration, a tech startup (Shukla didn’t disclose the title) used to rent engineering grads from Tier 1 cities as entry-level net builders. It partnered with Masai in 2021. “After working with a handful of our college students, the corporate contacted us once more to assist it create an unique expertise pool for hiring,” the Masai CEO stated.
Firms comparable to Capgemini, IBM, HCL Applied sciences and Tech Mahindra have additionally employed from Masai up to now.
“One of many MNCs hesitantly agreed to rent a couple of Masai college students with levels in pc science. After seeing how nicely they carried out, the corporate now often hires from Masai, no matter a scholar’s school diploma,” stated Shukla.
Commenting on Masai’s tech expertise, Ankush Sachdeva, cofounder and CEO of ShareChat stated, “I might not place my bets on the prevailing training infrastructure to coach individuals. I feel we want a platform like Masai that actually takes the accountability of uplifting college students and giving them related information within the tech area. That is actually wanted to unlock India’s tech potential.”
“Within the final two-three years, hiring has grow to be very tough. The very best factor about Masai is that there isn’t any recruitment payment, not like the consulting companies the place we have now to pay a hefty quantity. Masai college students are hard-working, disciplined and focussed. We rent engineers skilled beneath Masai to handle our frontend and backend,” stated Deekshant Jain, director of engineering at NoBroker
Connecting Companies with Expert Techies in Three Easy steps
The startup’s enterprise partnership workforce will get in contact with the prospects (company homes and placement companions) more often than not. Nevertheless, companies can straight contact the skilling and placement platform for his or her hiring necessities. “Robust phrase of mouth from glad enterprise companions works very nicely in our favour. It’s the proof of idea for potential companions,” stated Shukla.
When an organization comes on board, Masai manually matches its necessities with 5 – 6 superb scholar profiles.
Subsequent, the corporate holds an in-house interview, and the chosen candidate will get a suggestion letter. Lastly, Masai’s placement workforce works with the candidate to assist him/her full the becoming a member of formalities. The platform’s B2B companions can full your entire process in two-three days.
In 2021, 46% of Masai College college students have been employed by repeat purchasers, in accordance with the startup. Greater than 200 firms employed Masai college students throughout 10+ cohorts between March 2022 and September 2022.
Apart from ability assurance and fast hiring, Masai’s companies are cost-effective, too, because it doesn’t cost its enterprise companions any recruitment payment. Its income comes from the charges customers should pay for programs and placement companies.
Nevertheless, Masai isn’t the one participant capitalising on outcome-focussed studying fashions by serving to college students land top-tier tech jobs and providing companies an unlimited expertise pool. A handful of startups like Newton College, BridgeLabz, Placewit and the like are additionally working right here.
Doubling down on its outcome-oriented training strategy, Masai gives study-now-pay-later mannequin, offset by an revenue share settlement (ISA). When college students signal ISAs with the platform, they’ll pursue the programs at zero price. As soon as they’re positioned and get paycheques of INR 5 Lakh or above every year, the startup begins to cost a hard and fast share of the month-to-month revenue till the prices are paid off (no curiosity is charged, although).
This additionally helps construct belief, as college students are assured of a constructive consequence in a difficult-to-crack job market.
Masai has partnered with two NBFCs, Propelld and Eduvanz, to facilitate the ISA contract.
“We guarantee a gradual income stream by making good use of our coaching modules. They assist our college students grow to be job-ready, and so they pay us later. As one of many pure-play ISA-model profession institutes, our ideology stems from the idea that training must have a tangible finish outcome,” stated Shukla.
The Street Forward For Masai College
Though industries have been hit laborious by the pandemic, and a worldwide slowdown is looming massive within the aftermath, India’s IT {industry} continues to ship and develop.
In line with IBEF, its income crossed $227 Bn in FY22, a 15.5% YoY rise from the earlier yr. The sector additionally employed 4.45 Lakh individuals within the final monetary yr, taking the full headcount to 50 Lakh.
However there was one other facet of the coin.
Regardless of a extreme job crunch, the attrition fee skyrocketed to 21% in 2021, from 12.8% in 2020, a survey by Aon stated.
In short, a expertise warfare raged facet by facet, and plenty of IT firms struggled to seek out sources with related ability units.
End result-focussed skilling platforms like Masai College need to bridge this hole by connecting startups and deep-pocketed legacy gamers with a rising pool of new-age techies who’re skillworthy, versatile and fast joiners.
Speaking in regards to the street forward, Shukla stated he was assured that increasingly startups and MNCs would recognise the necessity to break information silos and provides these newcomers a good likelihood as a substitute of focusing on premium establishments alone.
Therefore, Masai College is planning to scale its product stack by including a number of programs like an outcome-based upskilling programme for working engineers and devoted programs for engineering college students of their first, second, third and ultimate yr of commencement – to satisfy industry-specific necessities.
“Many hiring companions have requested us to launch particular expertise programs. We’re making a dynamic curriculum to satisfy these calls for,” stated Shukla.
In line with Inc42’s The State of Indian Startup Ecosystem Report, edtech’s ability growth sector is estimated to achieve $730 Mn by FY25, rising at a CAGR of 24%. The constructive {industry} projections come at a time when the edtech sector is going through a downturn as offline institutes return to enterprise in full swing.
Specialists imagine that the street to profitability lies in constructing sustainable enterprise fashions and adjusting to altering client preferences and traits.
Therefore, creating future-proof options and immersive studying experiences in sync with person demand is crucial for edtech platforms like Masai to not solely survive the present upheavals but additionally scale in the long term.
