This is an ‘Inter-Accelerator’ Partnership aimed at creating and nurturing a pipeline of ‘investment-worthy’ enterprises in the edtech sector with potential for scale and impact.
Pune based EDUGILD, India’s first edtech startup accelerator promoted by Maharashtra Institute of Technology (MIT) and Avantika University as Knowledge Partners, today announced that it has entered into a strategic partnership with US-based impact investor Gray Matters Capital.
Gray Matters Capital recently launched GMC Calibrator – a six month blended accelerator program focused on enhancing user engagement and improving product monetization of mobile apps and digital platforms of organizations in the ‘Learning to Earning’ space.
What’s the Partnership all about?
- Through this ‘inter-accelerator’ partnership, EDUGILD and Gray Matters Capital’s GMC Calibrator will look to create and nurture a pipeline of ‘investment-worthy’ enterprises in the edtech sector. These entities will have the potential for scale as well as higher impact in terms of promoting self-learning, improving learning outcomes, employability and bridging of gender gaps – both in education and the workforce.
- Besides collaborating to facilitate institutional partners for advisory, mentoring and scale-up, both EDUGILD and Gray Matters Capital aspire to jointly select and curate education and skilling enterprises for their respective accelerator programs.
- Cross promotional opportunities to showcase solutions of cohort members of both accelerator programs to each other’s network including but not limited to access to revenue enhancement opportunities
- The India based enterprises of the EDUGILD cohort will be considered for investment evaluation by Gray Matters Capital and its network of co-investors and funds.
- The cohort of GMC Calibrator will be able to access the canvas of education institutions under the MIT group and their other partner institutions comprising over 80,000 students in the KG to PG spectrum for product testing and piloting of technology led solutions.
Throwing light on the significance of this partnership, Rishi Kapal, CEO, EDUGILD said, “Our partnership with Gray Matters Capital is based on a common vision that we share of Edtech being a catalyst to change the education paradigm in India. This inter-accelerator partnership entailing joint application sourcing, access to mentors, product testing right up to unlocking funding opportunities will help in building a robust edtech sector in India.”
Since its launch in June 2015, the global edtech accelerator has benefited 24 startups across 5 cohorts by providing access to sales and go-to-market opportunities, product life-cycle management support, organisation development inputs, UI/UX maturity, PR strategy, co-working spaces, Investor Relations and global scale-up opportunities. EDUGILD has partners in UK, Israel, China, Japan and ANZ for access to their companies.
“As impact investors, it is equally important for us to nurture the ecosystem. While we have many early stage enterprises in the edtech space in India, not many of them are able to attract investor interest,” said Ragini Chaudhary, India CEO, Gray Matters Capital. She added, “This partnership with EDUGILD is an attempt to scout for those edtech enterprises with break through solutions that can benefit the mass market, especially those women and girls in the lower-income groups. The product testing and piloting opportunities that the cohort of the GMC Calibrator can avail will be priceless”
In India, Gray Matters Capital has invested in for-profit education ventures with a focus on access to affordable quality education and on employability leading to a future job ready workforce with 21st century skills. It is the anchor investor in CBA Capital’s Education Catalyst Fund.