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New Delhi, May 6 () The National Institute of Industrial Engineering (NITIE), a prominent B-schools has tied up with edu-tech company mUni Campus for conducting their exams online with live proctoring for students amid the coronavirus-forced lockdown.According to Manoj Kumar Tiwari, Director, NITIE, students were provided an opportunity to practice online demo test for over two days to get comfortable with this new way of giving exams online. "The examination was conducted in a quite innovative way. Students were able to appear for the exam comprising of a mix of MCQs, short and long descriptive questions," he said. The students had a choice to write their answers in the text box provided for and write on paper and upload the scanned sheets before submitting their work for grading, he said."We have developed a very innovative way of conducting the examination at large. It is secure and highly scalable with live proctoring. We are providing mUniPariksha online examination solutions following the guidelines of the UGC," Bhupesh Daheria, Founder, mUni Campus said.Universities and schools across the country have been closed and exams postponed since March 16 when the Centre announced a countrywide classroom shutdown as one of the measures to contain the COVID-19 outbreak.Later, a nationwide lockdown was announced on March 24, which has now been extended till May 17. GJS GJS TDSTDS

NITIE ties up with edu-tech firm to conduct exams online amid lockdown

Cloud-based education platform <keyword id="1928389" type="UNKNOWN" weightage="100" keywordseo="WizIQ">WizIQ</keyword>, which offers a collaborative and multilingual interface for delivering online courses, has launched new apps for <keyword id="75489" type="ORGANIZATION" weightage="100" keywordseo="IOS">iOS</keyword> and <keyword id="693128" type="UNKNOWN" weightage="100" keywordseo="Android-tablets">Android tablets</keyword> that enable <keyword id="6356089" type="ORGANIZATION" weightage="100" keywordseo="Teachers">teachers</keyword> to <keyword id="1974534" type="UNKNOWN" weightage="100" keywordseo="Conduct-live-online-classes">conduct live online classes</keyword> using these devices. 
 Earlier, only students had access to these apps so that they could attend online classes from anywhere and from any device (<keyword id="6365259" type="ORGANIZATION" weightage="100" keywordseo="PC">PC</keyword>, <keyword id="101239" type="CITY" weightage="100" keywordseo="iPad">iPad</keyword> and <keyword id="6355645" type="COMPANY" weightage="100" keywordseo="android">Android</keyword> <keyword id="6361927" type="UNKNOWN" weightage="100" keywordseo="Tablets">tablets</keyword>). However, teachers had to conduct classes either from their <keyword id="168469" type="UNKNOWN" weightage="100" keywordseo="desktops">desktops</keyword> or <keyword id="6367615" type="UNKNOWN" weightage="100" keywordseo="laptops">laptops</keyword>. With the upgraded apps in place, teachers can now access the <keyword id="1974537" type="UNKNOWN" weightage="100" keywordseo="WizIQ-Virtual-Classroom">WizIQ Virtual Classroom</keyword> through their <keyword id="996019" type="UNKNOWN" weightage="100" keywordseo="tablet-devices">tablet devices</keyword> and stay connected with students while on the go. The new versions also include a number of teacher-centric features that will add value to the <keyword id="675888" type="UNKNOWN" weightage="100" keywordseo="learning-experience">learning experience</keyword>. The <keyword id="1974542" type="UNKNOWN" weightage="100" keywordseo="WizIQ-App">WizIQ App</keyword> is free and can be downloaded from Apple’s <keyword id="95161" type="COMPANY" weightage="80" keywordseo="itunes">iTunes</keyword> Store or <keyword id="963171" type="UNKNOWN" weightage="100" keywordseo="Google-Play">Google Play</keyword>. 
 The new versions of the WizIQ App allow teachers to conduct online classes, anytime and anywhere; use all whiteboard tools; upload and share audio/video files; <keyword id="1974545" type="UNKNOWN" weightage="100" keywordseo="Extend-class-duration">extend class duration</keyword> and <keyword id="1974547" type="UNKNOWN" weightage="100" keywordseo="Record-live-classes">record live classes</keyword>. 
 Commenting on the launch, WizIQ <keyword id="5645" type="POSITION" weightage="100" keywordseo="CEO">CEO</keyword> <keyword id="222685" type="PERSON" weightage="100" keywordseo="Harman-Singh">Harman Singh</keyword> said, “The upgraded WizIQ (tablet) App promises to take teaching experience to a whole new dimension by enabling instructors to teach their students live, through their own devices.” 
 Mohali-headquartered WizIQ successfully operates a marketplace where teachers can sell their courses to its 3-million-strong student community. Nearly 250,000 teachers, <keyword id="180251" type="UNKNOWN" weightage="100" keywordseo="trainers">trainers</keyword> and <keyword id="1974553" type="UNKNOWN" weightage="100" keywordseo="Teaching-organisations">teaching organisations</keyword> are currently registered on WizIQ. Besides <keyword id="13178" type="COMPANY" weightage="80" keywordseo="Mohali">Mohali</keyword>, the company has offices in <keyword id="6355033" type="COMPANY" weightage="100" keywordseo="Bangalore">Bangalore</keyword>, <keyword id="6354552" type="COMPANY" weightage="100" keywordseo="hyderabad">Hyderabad</keyword> and <keyword id="6397385" type="UNKNOWN" weightage="100" keywordseo="North-Carolina">North Carolina</keyword>. For more information on this <keyword id="1974551" type="UNKNOWN" weightage="100" keywordseo="Edu-tech-firm">edu-tech firm</keyword>, read our earlier <a href="http://www.businessinsider.in/From-IITs-To-Universities-Abroad-This-Virtual-Classroom-Is-Going-Places/articleshow/25305478.cms">coverage</a>.

Edutech Firm WizIQ Launches iPad & Android Apps For Teachers

If you are sceptic about run-of-the-mill online courses or can’t decode the learning materials on your own, it’s time to go for the best of both worlds. How about <keyword id="1928389" type="UNKNOWN" weightage="100" keywordseo="WizIQ">WizIQ</keyword>, a <keyword id="406113" type="UNKNOWN" weightage="100" keywordseo="Virtual-classroom">virtual classroom</keyword> that can be accessed from anywhere, from any device, while teachers handhold students just like they do in a physical institution? But there’s more to it. Even premier institutions such as IIT-Delhi, Vellore Institute of Technology and <keyword id="59489" type="ORGANIZATION" weightage="80" keywordseo="Indian-School-of-Mines">Indian School of Mines</keyword> (Dhanbad) are tying up with this Mohali-headquartered firm for certificate courses and distance learning programmes. Overseas organisations using the solution include <keyword id="1928396" type="UNKNOWN" weightage="80" keywordseo="Atlantic-University-in-Virginia-Beach">Atlantic University in Virginia Beach</keyword> and Des Moines Area Community Colleges in Iowa, among others. The SaaS-based (<keyword id="753967" type="UNKNOWN" weightage="100" keywordseo="software-as-a-service">Software-as-a-Service</keyword>) education platform is hosted on the Cloud and successfully operates a marketplace where teachers can sell their courses to its 3-million-strong student community. 
 WizIQ offers a collaborative and flexible platform for delivering and enhancing any online course – be it high school maths, hybrid courses for university students or employee training programmes. What sets it apart from other <keyword id="1928409" type="UNKNOWN" weightage="100" keywordseo="edu-tech">edu-tech</keyword> companies is its focus on teacher-and-learner-centred methods instead of just providing gigabytes and gigabytes of content. It is also an excellent interface for conducting <keyword id="1071995" type="UNKNOWN" weightage="100" keywordseo="Massive-Open-Online-Courses">Massive Open Online Courses</keyword> (<keyword id="1539483" type="COMPANY" weightage="100" keywordseo="MOOCs">MOOCs</keyword>). Best of all, WizIQ’s Virtual Classroom software works cross-platform – on PCs, <keyword id="75489" type="ORGANIZATION" weightage="80" keywordseo="IOS">iOS</keyword> and <keyword id="6355645" type="COMPANY" weightage="80" keywordseo="android">Android</keyword> devices. It can also be integrated with <keyword id="1928395" type="UNKNOWN" weightage="100" keywordseo="learning-management-systems">learning management systems</keyword> like Moodle or Blackboard or with an organisation’s own website. 
 True to its global stature, the platform has a multilingual interface and supports 19 languages. The company also opened an office in Bangalore yesterday in a bid to expand further. WizIQ has other offices in Hyderabad and North Carolina as well. Here is a snapshot that captures the vision and viability of the <keyword id="13178" type="COMPANY" weightage="80" keywordseo="Mohali">Mohali</keyword> start-up gone global. 
 
Who runs WizIQ: The venture was started by <keyword id="222685" type="PERSON" weightage="100" keywordseo="Harman-Singh">Harman Singh</keyword> (CEO) in 2007. The parent company is <keyword id="1696366" type="UNKNOWN" weightage="80" keywordseo="Authorgen-Technologies">authorGEN Technologies</keyword>, which was founded in 2002 by Harman and late Harbir Khurana. Harman holds a master’s degree in Computer Science from <keyword id="283601" type="ORGANIZATION" weightage="60" keywordseo="North-Carolina-State-University">North Carolina State University</keyword>. Prior to WizIQ, he had also founded authorSTREAM, an online PowerPoint sharing platform. 
 
What inspired the venture: The concept of making quality education accessible to all at reasonable charges. Harman came up with the idea during his graduation years and the goal was to make teaching and learning easier for everyone. 
 
What’s the pitch: Do more than stand and deliver – engage your students. Content might be the king but at WizIQ, teachers are back where they belong and replicates the classroom experience online. That creates a distinctive style and ensures a great engagement model. 
 
How it works: WizIQ enables teachers and trainers to hold ‘live’ classes and share tutorials in all possible formats – PowerPoint presentation, PDF, Word document, virtual whiteboards, voice and video. Learners only need an Internet connection to ‘attend’ those classes and don’t require to download anything or pre-install cumbersome client software. An integrated chat is there as well to make each session interactive. 
 
Technology: The platform leverages Microsoft technologies. For real-time communication between students and teachers, it uses Flash Media Server (FMS) and Flex at front-end. Amazon S3 is used for data storage and wherever heavy computation power is needed, Amazon EC2 service is used. To optimise the ‘live class’ experience, servers are placed at multiple locations like the US, Singapore, Sao Paulo and Ireland. 
 
Claim to fame: Traction and awards. WizIQ claims that over 250,000 teachers and 3 million learners are using the platform across 100-plus countries. The company also says it has the largest collection of paid courses created by educators on the Internet and hosts more than 2,500 live classes daily via WizIQ Virtual Classroom. Teachers and organisations are also using WizIQ to conduct successful MOOCs. 
 
Show me the money: It is essentially a paid platform for teachers looking to conduct online classes. Fee starts at $19 per month (or $190 a year) and can go up to $69 per month (or $690 annually). WizIQ offers a freemium model and some features on this platform are free. For instance, teachers can hold 2 classes per month free of cost and there’s a 30-day free trial for those who want to try out its advanced features. Around 8,000 of the total 250,000 teachers are paid members, the company claims. 
 Unlike many other start-ups, this one has been well funded all along. Educomp, India’s largest <keyword id="255607" type="TECHNOLOGY" weightage="100" keywordseo="education-technology">education technology</keyword> company, invested an undisclosed amount in the very first year. In January 2013, WizIQ also raised a Series B round of $4 million from education-focused PE firm <keyword id="342246" type="COMPANY" weightage="60" keywordseo="Kaizen">Kaizen</keyword> and German media major Bertelsmann. 
 
Biggest challenge: Poor Internet penetration and stiff competition from those in the same space. But the toughest one is positioning. Web-enabled distance learning is definitely looking up in India, but it is yet to catch up with mainstream courses administered offline. Until that happens, scaling up will remain a major problem.

From IITs To Universities Abroad, This Virtual Classroom Is Going Places

OpenAI is set to roll out a new premium subscription service called ChatGPT Pro, tailored for users seeking cutting-edge AI capabilities. Priced at $200 (approximately Rs 17,000) per month, the subscription will offer exclusive access to advanced tools, including unlimited use of OpenAI’s o1 model, GPT-4o, and a new <keyword id="23539067" type="General" weightage="20" keywordseo="Advanced-Voice-Mode" source="keywords">Advanced Voice Mode</keyword>. <h2>About ChatGPT Pro </h2> A standout feature of the Pro subscription is the o1 Pro Mode, which leverages enhanced computational power to tackle complex challenges in areas like coding, mathematics, and science. This mode is designed to deliver superior reasoning and solutions compared to earlier versions. OpenAI will continue offering its <keyword id="19973106" type="General" weightage="20" keywordseo="ChatGPT-Plus" source="keywords">ChatGPT Plus</keyword> subscription tier at $20 (around Rs 1,700) per month. While Plus users will gain access to all existing models and early feature previews, the advanced o1 version remains exclusive to Pro subscribers. In tandem with the Pro release, OpenAI has announced the official launch of its o1 model, replacing the limited o1-preview introduced in September under the code name “Strawberry.” The stable o1 model is available immediately for ChatGPT Plus and Team users, with Enterprise and Edu customers to follow next week. The o1 model boasts notable advancements, including the ability to solve complex, multistep problems and generate more precise code. Additionally, it can now analyse and interpret images, marking a significant leap in its capabilities. OpenAI has focused on improving response speed and accuracy, particularly for coding and mathematical tasks, while ensuring concise and efficient outputs for an enhanced user experience. <h2>Ads in ChatGPT: A possibility? </h2> Speculation around OpenAI introducing advertisements to ChatGPT is gaining traction following comments from the company’s CFO, Sarah Friar. Speaking in an interview with the Financial Express, Friar mentioned that while OpenAI is exploring alternative revenue streams, advertisements are not yet in active planning. However, reports suggest that OpenAI is hiring advertising professionals from major tech firms like Meta and Google, hinting at a potential shift towards integrating ads in the future. The move aligns with OpenAI’s transition to a for-profit model and its foray into the online search market with an AI-powered search engine designed to compete with Google.

OpenAI unveils premium ChatGPT Pro subscription with advanced features

New Delhi, Mar 5 () Tech firm Salesken on Thursday said it has raised USD 8 million in series A funding led by Sequoia India. "The funding round was led by Sequoia India and also featured a secondary with investors such as Unitus Ventures and Michael and Susan Dell Foundation making partial exit," a statement said. The transaction was facilitated by Masterkey Holdings, it added. The funds will be used for further development of Salesken's artificial intelligence-based conversation intelligence platform (Salesken.ai) and for expansion across the Asia Pacific and North America markets, a statement said. Salesken helps companies with real-time intelligence during their sales conversations to help them win more deals. Sales teams using Salesken.ai receive intelligence on various aspects of the sales pitch, from lead qualification to navigating pricing discussions. They can also gauge the sentiments of their customers during the conversation.** * *Callido Learning raises seed funding from Education Catalyst Fund*Edu-tech firm Callido Learning on Thursday said it has raised seed funding from Education Catalyst Fund (ECF). While the amount of funding raised was not disclosed, the company said the proceeds will be used to strengthen the technology underpinning its products, fuel growth for its recently launched skills assessment and launch its first retail offering. In India, Callido counts schools such as The Shri Ram School, Shiv Nadar Schools, Cathedral &amp; John Connon School, and The Dhirubhai Ambani International School amongst its clients. Internationally, Callido works with schools in 18 countries."We intend to use the funds for product upgrades and to scale our presence in India and overseas. We also plan to foray into the B2C segment," Sriram Subramanian, CEO at Callido Learning, said. ****TCS HOBS helps Airtel streamline product portfolio*IT services major Tata Consultancy Services on Thursday said it has implemented its HOBS Product Portfolio Management (PPM) solution for Airtel to help the telecom giant to create personalised offers and make them available in the market instantly."Airtel partnered with TCS to implement a single enterprise-wide product catalog for all marketing and sales channels in India. TCS HOBS PPM has streamlined the company's product lifecycle processes, rationalizing its large product portfolio by 80 per cent," a statement said.It empowers Airtel's business teams to manage the product portfolio on their own, and significantly automates new product rollouts across business and IT operations, eliminating inefficiencies and reducing time to market by 90 per cent, it added. SR SR MRMR

Salesken raises $8 mn led by Sequoia India

New Delhi, Jan 28 () Consumer electronics maker Panasonic India has ventured into education sector by launching two education-based solutions CareerEx and XcelIT, and aims to impact around one lakh students by 2025.
Both the solutions are designed and developed at Panasonic's India Innovation Centre (IIC) for the students, colleges and universities to bridge the existing skill gap between current education and employment needs for the future, the firm said in a statement.
CareerEx has been designed to address the needs of college and university students to advance their skillset with emerging technologies such as Data Science, Cloud Computing, Machine Learning/AI and Internet of Things.
XcelIT is designed for school students primarily residing in Tier II &amp; III cities to make them ready for all competitive exams.
"Through the launch of CareerEx and XcelIT, we hope to develop another innovative Edu-tech solution to upskill technology talent pool to address the unemployment rate amongst urban youth and at the same time cater to the demands of industry. We are looking to positively impact nearly 1,00,000 students over next 5 years," Panasonic India Innovation Centre Head Atsushi Motoya said.
CareerEx and XcelIT are available on both Android and iOS application stores.
Panasonic has also collaborated with specialised educational partners for this programme.
Moreover, students will get a chance to work on Panasonic projects and internships, it added. KRH BAL

Panasonic forays into education sector in India

New Delhi, Feb 19 () Homegrown early-stage venture capital firm, Blume Ventures on Wednesday announced the final close of Blume Ventures Fund III at USD 102 million (about Rs 730 crore). After a first close in late 2018, the final close was completed in December 2019, a statement said. Blume started in 2011 raising an entirely domestic Rs 100 crore fund from HNIs (high net-worth individuals) and subsequently raised a USD 60 million fund (Rs 400 crore) in 2016. It claimed that its the first entirely homegrown fund to raise a third fund and raise over USD 100 million in a single fund. "Blume's newest fund will continue to back early stage startups focusing on the two distinct opportunity sets that India offers, opportunities that leverage the mobile-led explosion of the Indian digital-first economy and Indian engineering and science translated to global market opportunities," it added. The fund III portfolio already includes more than 10 investments including HealthAssure (healthcare), Taaraka, Stage3 (consumer), Jai Kisan, TartanSense, Procol (agri), Classplus, Tapchief and LeverageEdu (edu-tech). Through Fund I and II, Blume had invested in companies like Unacademy, Grey Orange, Spinny, Turtlemint, Dunzo, Healthifyme, Purplle, Railyatri (IntrCity) and others. "We are very proud of our founders and team who have delivered outstanding performance over the last three years, thereby strengthening the Blume brand and track record immensely," Karthik Reddy, co-founder and managing partner at Blume Ventures said. SR SHWSHW

Blume Ventures announces final close of Fund III at $102 mn

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>JPMorgan chief operating officer Matt Zames is setting his sights on Silicon Valley.In a letter titled "Redefing the Financial Services Industry" in <a href="https://www.jpmorganchase.com/corporate/investor-relations/document/2016-annualreport.pdf">JPMorgan's 328-page letter to shareholders</a>, Zames ran through the bank's tech strategy.Zames said attracting tech talent from Silicon Valley and technology firms is an integral component to that strategy. The letter said:"Attracting, retaining and developing top technology talent is paramount, and we cast a net far and wide to find the best and the brightest. In 2016, 32% of our senior hires in technology came from non-financial services firms. We had a 10:1 applicant-toposition ratio for our Technology Analyst Program, which targets graduates of global universities that have strong technology programs."The bank spends more than $9.5 billion on technology, according to the letter, with an increasing percentage of that budget going on new investments and innovation. "Our strategy is a combination of build, buy and partner in order to continue delivering the best digital products and services at scale," Zames said. "Our relationships with the external technology ecosystem helped drive value across our technology focus areas, including next-generation data and analytics platforms, such as Hadoop and Spark."Zames highlighted a number of fields such as machine learning and robotics in which the bank made huge inroads with new initiatives. Here are some of the highlights from the letter (emphasis added):New design standards<ul><li>"We are also defining design standards to provide a common technical framework for development of applications of a particular type, for example, big data analytics. This will significantly reduce rework and duplication in the software development life cycle where, previously, application developers have had to create their own one-off frameworks."</li></ul>A new private cloud<ul><li>"In 2016, we launched a new private cloud platform called Gaia, designed to provide developers with rapid agility - so that they spend more time developing and less time provisioning infrastructure and application services. Over 5,000 developers already have begun to use Gaia. By the end of 2017, we expect to more than double the number of applications hosted on the platform."</li></ul>New global data center strategy<ul><li>"In 2016, we invested in a new global data center strategy to consolidate our existing facilities into fewer, larger, more modular sites. In early 2017, we opened our first new state-of-the-art data center, which is the strategic model for all future builds globally."</li></ul>New Market Risk platform<ul><li>"Last year, we re-engineered our Market Risk platform, one of the largest in-memory risk analytics platforms in the world. The platform now manages over 1 billion risk sensitivities and provides visibility 17 times faster than the prior system while delivering a more granular and holistic view of the firm's risk exposure."</li></ul>Robotics<ul><li>"We established an internal center of excellence to drive best practices around a growing pipeline of robotic process automation, including systems access administration, for which we expect to automate 1.7 million requests in 2017. We have line of sight into more than $30 million run rate saves from robotic process automation in 2017, a savings that, coupled with other optimization efforts, will continue to increase substantially in the years to come."</li></ul>Machine learning<ul><li>"We are initiating pilots for a broad range of machine learning use cases - from detecting anomalies for fraud and cybersecurity, to generating targeted trading strategies to share with clients, to optimizing our clientservicing channels. We are only at the very beginning of tapping the potential capabilities of machine learning and its benefits to our business."</li></ul> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/tax-state-local-income-federal-sales-property-return-refund-credit-2017-3">These are the states you should live in to pay the least taxes</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="FrdGtiYTE6B0BUnwtYMggVyClJkrK5hW" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

JPMorgan is targeting Silicon Valley

Startups are no more interested in wooing investors. They are now applying a new method to get funds. They are borrowing money to meet working capital needs as their eye-popping valuations are finally beginning to taper off. 
 
This is a radical departure from just a few months ago when they collected money by selling stakes to <a href="http://www.businessinsider.in/searchresult.cms?query=venture+capital+">venture capital</a> firms, hedge funds and deep-pocketed businessmen all vying for a piece of India's rapidly growing e-Commerce market. 
 Take an example of <keyword id="6368965" type="UNKNOWN" weightage="80" keywordseo="ZoomCar">Zoomcar</keyword>, a car rental company. It has borrowed Rs 12 crore in two tranches from <keyword id="2809652" type="UNKNOWN" weightage="60" keywordseo="InnoVen-Capital">Innoven Capital</keyword>, a debt venture fund, to meet its working capital needs rather than approaching investors again. It had raised equity capital worth $11 million from <keyword id="122716" type="CITY" weightage="80" keywordseo="Sequoia-Capital">Sequoia Capital</keyword> and a few other investors last year. 
 
Debt venture funds like Innoven raise money from institutional investors and lend to startups. Innoven has loaned money to established enterprises such as <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal">Snapdeal</a>, Myntra, Practo, Freecharge, <a href="http://www.businessinsider.in/searchresult.cms?query=startups+">Yatra.com</a> and Firstcry recently. 
 
Besides Zoomcar, other startups such as mobile wallet MobiKwik, memorabilia e-retailer Collectabillia, edu-tech firm Embibe, transportation venture MoveInSync, food chain Faasos and app maker AppsDaily, among others, have shifted to debt funding since April this year. 
 While entrepreneurs see venture debt as an additional source of capital, the shift points to a growing wariness among investors about startup valuations. Many investors have begun to question the sustainability of the business model of e-Commerce companies, which is centred on the idea of gaining <keyword id="34527" type="UNKNOWN" weightage="60" keywordseo="market-share">market share</keyword> at any cost often with scant regard to the possibility of making real profits. 
 "There's definitely a higher intensity of discussion around valuation these days as the fund-raising environment is showing signs of cooling off," said Vinod Murali, managing director, InnoVen Capital. Startups have taken note. Rahul Khanna, managing director, <keyword id="2694863" type="UNKNOWN" weightage="80" keywordseo="Trifecta-Capital">Trifecta Capital</keyword>, said people are expecting a correction in the valuation of startups and promoters, therefore, want to retain more capital now. "It's like buying insurance; if the next round of funding is delayed, they'll still have enough money to run the company," he said. 
 
Trifecta is the latest venture debt fund to join the likes of Innoven, Intellegrow and Capital Float, among other unorganised NBFCs, which are complementing the shift in strategy of startups. 
 
Trifecta said it has a pipeline of deals with more than 60 companies. Innoven said it has funded more than Rs 760 crore in India through 90 deals across 60 companies. 
 
This new strategy is enticing for startups. A good capital mix gives <a href="http://www.businessinsider.in/searchresult.cms?query=entrepreneurs+">entrepreneurs</a> more time to grow the business — and avoid the rat race — while a lower equity dilution allows them to retain control of their companies. 
 
In recent years, startups have raised debt of over Rs 1,500 crore, according to fund managers. There is actually a pent-up demand for debt funding, according to Khanna. 
 
Venture debt funds, which lend money to <a href="http://www.businessinsider.in/searchresult.cms?query=startups+">startups</a> at rates of 15-21% a year, are not strictly debt funds. They are structured in a way to allow the lender a minor equity participation as well. While lending money to startups, most venture debt funds demand an equity kicker, usually 1-2% of the loan. An equity kicker allows the fund to partake future profits, a right that must be exercised either during the life of the fund or the tenure of loan. 
 
(Image: Indiatimes)

Startups, tired of  chasing angel investors, are now simply borrowing money to make ends meet

It was one of the first to steer its way through a turbulent Ed-tech Space successfully a few years ago. <keyword id="1309724" type="UNKNOWN" weightage="20" keywordseo="Simplilearn">Simplilearn</keyword> has not failed to surprise us yet again. One of <a href="http://www.businessinsider.in/This-is-what-makes-Simplilearn-one-of-the-most-effective-Education-Startups-in-recent-times/articleshow/53672539.cms">the most effective Ed-tech portals in our country</a>, it is now also one of the first in the online education space to have announced a placement assistance service to bridge the gap between job aspirations of candidates and skill expectations of hiring companies. 
 
With this, Simplilearn graduates will be put in front of some of the top-most hiring companies for listed and un-listed middle, mid-senior, and senior level job openings, based on industry skill requirements. This step is believed to have a potential to make a real difference to the lives of several professionals, who otherwise may not have been able to highlight themselves in front of top companies despite being trained in emerging fields. 
 
Also, with this move, it is being expected that <a href="https://www.simplilearn.com/">Simplilearn </a>will be positioned among rivals as not just a professional certification training provider helping professionals up-skill, but as one of the only Ed-tech portals in India helping its students connect with employers who are hunting for talent in high-growth domains. On the other side, it will also prove as a boon for companies, considering it is a difficult task for them to find talent in Big Data, Data Science and Digital Marketing - areas where the Indian market still lacks talent. 
 Ahead of the product launch, <keyword id="687315" type="PERSON" weightage="20" keywordseo="Kashyap-Dalal">Kashyap Dalal</keyword>, Chief Business Officer at Simplilearn, revealed how <keyword id="4101867" type="UNKNOWN" weightage="20" keywordseo="jobassist">JobAssist</keyword> works, what are the company's plans around it, how will Simplilearn have a competitive advantage with this new product and much more, in an exclusive interaction with Business Insider. Here's what he had to say: 
 
- Can you explain the hiring process via JobAssist right from the time your placement cell showcases the resume of a Simplilearn Graduate to companies till the final hiring takes place? 
 
We are offering JobAssist exclusively to our learners upon successfully completing the course. On course completion, professionals interested in new opportunities will apply for JobAssist through our website. They would be required to share details with our placement team regarding their experience and career journey. Our team actively engages with leading companies in our JobAssist domains and looks at mapping the openings they are aware of with relevant profiles of professionals. It will share the relevant resumes with the companies. 
 
Once the resumes are shared, the companies will further screen the candidates based on parameters such as performance, experience, and other requirements as each company has its own guidelines. Once a candidate will be shortlisted for an interview, a representative of the specific recruiting company as well as someone from the Simplilearn JobAssist team will coordinate with our student on next steps and rest of the process. 
 
The JobAssist process continues for a period of 12 months or until the candidate gets a job offer through the JobAssist process or decides to opt out of the process due to any other career developments. 
 
- Who constitutes the Simplilearn Placement Cell? 
 
Simplilearn Placement cell has a dedicated unit of 10 members that works towards building network with top hiring companies. They also match profiles to relevant openings across these companies to maximise the chances of conversion for students as well as the companies finding relevant candidates. Our team has extensive experience in acquiring talent for Fortune 500 companies and fast growing start-ups.- 
 
- How many Companies have you tied up with so far? 
 
Currently, we have tied up with five leading IT/ITes companies and the plan is to expand these partnerships with all large enterprises and top ranking startups in India across sectors by the end of this year. The hiring companies that we partner with are those focuses on growth areas in the digital economy and have huge need for quality professionals in areas such as big data, digital marketing, cloud computing, mobile, DevOps and so on. 
 
- Will you be facilitating Overseas hiring as well? 
 
We definitely see potential to use our business scale across India and US (as well as Middle East, UK and Australia) to open up overseas opportunities in the near future. At this time, however, our focus is to help our alumni with relevant and exciting opportunities in the domain of their course and career interest. 
 
- Do you charge an extra fee from students to avail the JobAssist service? 
 
Job Assist is a free valuable service provided to Simplilearn learners. There is no separate fee chargeable. The only condition is that this service is available only to students who successfully complete the course objectives and requirements. 
 
- Do you feel by connecting the professional trained by you to companies relevant to their skills, you have closed the last gap in your offerings as an Edu-tech portal? 
 
With JobAssist, we are definitely a step closer to the larger mission in helping professionals and enterprises succeed in the digital work age. Advanced technologies are changing the dynamics of businesses so frequently. It's becoming challenging for companies to keep up with this pace, especially in hiring skilled talent in large numbers. Similarly, job portals and consultancy firms are not equipped enough in processing quality resumes of deserving candidates with technical expertise. At Simplilearn, we want to be the career partner and help in bridging the gap between career aspirations and industry needs. 
 
- With JobAssist, are you looking at having a Competitive Advantage over others who are merely providing education/training in emerging fields? 
 
Our high touch learning model has benefited our learners, which has led us to an industry high course completion rate at 72 %. It was one of our milestones last year and gave us a competitive edge in the professional training space. JobAssist is an initiative that we are very excited about as it allows us to add value directly to the career of our students, not just through providing them the right skills but also by connecting them to the opportunities that exist in high growth industries. 
 
What are your Short-term and Long-term Goals for Job Assist? 
 
The short term goal is to work towards placing all of our learners for the select courses on Big Data, Data Science and Digital marketing for Masters programs as well as the online classroom courses. This will be facilitated by our dedicated placement cell. The mid to long term goal would be to build JobAssist as a platform which companies searching for quality talent in digital economy skillsets naturally veer towards. 
 
Anything else you may want to share with us to write about Job Assist? 
 
We invite all employers who struggle with shortage of skilled talent in areas like Big Data, Digital Marketing to reach out to us and work with us to get access to job ready talent in these areas. 
 
The industry-resource equilibrium remains disturbed owing to India's huge demand-supply challenge. It all boils down to a defunct Indian education system that has failed to keep up with the times as well as lack of job opportunities in the Indian market. 
 
At a time like this, Simplilearn has emerged as a saviour because its skilled Graduates are getting a chance to be in front of companies which require them. It remains to be seen, however, how effective 'JobAssist' will really prove to be and whether it will achieve what it has set out for. Who knows, we may be in for another surprise soon!

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