New Delhi, Nov 16th, 2021: In a strategic B2B partnership, CL Educate, a leading EdTech listed player has signed an agreement with Vidya Mandir Classes to offer JEE and NEET programs with Mumbai, Pune and GCC as a pilot.
CL Educate, a leader in multiple segments including management, law and UG-Aptitude looks at this alliance as a strong win-win to emerge a segment leader in the 50 lakh JEE/NEET/sciences segment.
Sujatha Kshirsagar, Chief Business Officer of Career Launcher said “Needless to say, IITJEE/NEET is the flagship in the Under-graduate space and the CL-VMC alliance is the most capital efficient way to win, we believe. High ARPU, Low CAC, our Omni-channel strengths and great VMC results legacy should enable us to jointly emerge as leader rapidly”
Vidya Mandir Classes (known popularly as VMC) is the original leader in coaching for JEE for over four decades. The entrance exam to get into VMC is the most sought-after event that signals the launch of the new season in JEE preparation for decades now. The phase one of this joint initiative is sought to be rolled out in Mumbai, Pune and GCC (Dubai, Sharjah and Abu Dhabi) as well as for the online premium programs.
Abhishek S, Chief Business Officer of VMC said, “VMC has been undisputed leader in JEE Test Prep student mindshare for over 35 years. Our name is synonymous with most innovative initiatives in Education sector, all aimed to satiate one founding principle - Student FIRST.
Our recent successful ventures in NEET prep, Online test prep and newer geographies has only strengthened our belief in that founding principal of Student First. The omni channel network, the online capabilities of CL are the biggest reason for this tie-up. We believe we can expand fast across the country over the next 36 months. Our legacy and high-quality academic capability will enable the success on the ground, we believe”.
Together, CL and VMC aim to grow the student strength three-fold from the current 25,000 in JEE/NEET in three years’ time. The phase-wise execution of this through a mix of online and face-to-face programs will be to achieve this goal according the VMC spokesperson.
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CL Educate Limited
About IITJEE and NEET Entrance Examination
Over 25 Lakh aspirants write the entrance exams to enter the engineering and medical schools in India. The preparation for these prestigious institutions is done by the students over a 2-year period, usually. The crème de la crème or the toppers go to institutions such as the IITs, NITs, IIITs, AIIMS, MAMC, and so on.
FAQs
1. Is this a buyout/merger?
Ans: This is not any equity or investment linked tie-up. This is a powerful alliance led partnership that leverages the strengths of the two brands and organisations for a common vision and purpose of leadership in the science UG opportunity of a few crore students including 50 Lakh in the JEE and NEET itself.
2. Why has VMC not opened its own centre in Mumbai or Pune or GCC?
Ans: VMC started from Delhi 35 years ago. The growth focus has been through expansion with close to 50 centers in 35 cities across India where VMC is a revered household name for JEE and NEET. Now is the time to venture to specific important geographies to contribute strongly towards student development and provide them with preparation opportunity. In Mumbai or Pune or GCC, which are hyper-competitive landscape, we believe that we must phase in our execution and in a partnership with CL who already have a JEE/NEET business for over a decade.
3. What would be the roles of each partner organisation?
Ans: CL Educate brings her marketing strengths, network organisation and online machinery while VMC brings its respected brand name, legacy of strong results, academic prowess, process and systems in their respective roles. The complementarity of geographies also enables strong focus through freedom and accountability.
4. Do we anticipate a deeper tie-up emerge in the future?
Ans: We are focused on making a success in the first phase. We do not rule out any outcomes in the future though that will be based on the experience by both our teams and organisations in this joint endeavour.
5. Who are the biggest competitors in this segment?
Ans: Aakash, Allen, FIITJEE, Resonance are some of the names you might be familiar with. More importantly, we would focus on local SMB players and try to build on our strengths of partnership led growth into the 700 plus districts of India over the next decade. In that sense, the hyper-local competition is the opportunity.
6. What other models or innovations are possible in this joint Go-to-market strategic partnership?
Ans: Tying up and organising the local JEE/NEET tutors by offering them platform, training, brand, and researched content is the second stage after our pilots succeed. At the same time, private schools across the country offering integrated programs for UG examinations including JEE and NEET is a new phenomenon, and we will pick that up through select pilots before considering scaling that model.
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CL Educate & VMC (Joint Release)