Delhi Based Studycopter Aims to Tap Online Test Prep Market in India
Preparing for higher education entrance exams like GMAT is a costly affair. A student often lands up at one of the coaching institutes that charge high tuition fees and also pays up for the course material. Then there are charges for test series, mock tests and the likes. If one survives the financial heat, he’d still have to actually go to those classes which consumes more time.
Studycopter, an online portal for students aims to cut down the cost and effort associated with test preparation. The e-learning solution is an adaptive platform which offers content for exams like GMAT. The portal offers complete course for GMAT, an entrance examination for which nearly 3 lakh students appeared in 2012.
The Delhi based startup has a solution for the web as well as the mobile. It is now available on Android and will be launched on iOS & Windows soon. The platform syncs across devices so you can resume preparation from where you left off. For instance, if you are travelling, you can resume your study on your mobile or tablet exactly from where you left it on your laptop or PC.
The cloud based solution also offers a comparison engine which is basically a recommendation feature. It analyzes a student’s current performance from his performance a week ago and then suggests steps to be taken to improve it. Personalization of content is one of the important aspects for Content as a Service (CAAS) provider. The service also has options to share notes and tips with friends.
Launched earlier this year, the portal has managed to get more than 2,000 customers. It is mostly used by students. A few professors, teachers and institutes also use the service.
The company plans to introduce other courses like GRE, CAT and SAT in the coming months. It also has plans to integrate features like “Ask an Expert” in times to come to facilitate students for clarifying their doubts.
Test Prep Market in India is about Rs 25,000-32,000 Cr (2012) and is projected to grow to Rs 33,000-46,000 cr by 2015, says Adi Jain, Founder, Studycopter. “With a 10% spend on online+mobile, we are looking at about Rs 4,000 Cr market by 2015 just for online and mobile in Test Prep,” added Jain.
The startup offers a one week trial for students after which they can pay a one time 4 month subscription fee (Rs 1500). Contrast this with the prices of physical books and this would feel like it is cheap. The portability factor makes it more appealing. You don’t have to carry those heavy books and notes around wherever you go, just use your mobile phone to get going.
A report, highlights the change in online education ecosystem, as since 2009 Indian e-learning industry has grown at a rate of 18% CAGR reaching to annual revenues of $550 million-$600 million. There are more than 200 e-learning firms in India.
PLANCESS, another Mumbai based startup provides test preparation content for engineering aspirants.
Delhi based Aurus Networks is also one of the many players in the space. It provides internet based live 2-way HD classes for connecting teachers with students across the country. In September 2012, Aurus secured an undisclosed investment from Indian Angel Network.
Globally, companies like Grockit, Knewton and many more are tapping the online education market through their customized and adaptive e-learning platforms.
