upGrad Abroad, the overseas education division of ed-tech firm upGrad plans to clock revenue worth $150 million by end of FY24, Ankur Dhawan, president, upGrad Abroad told FE Education, adding that the division will be profitable by end of this fiscal. He however, declined to provide exact details. “We will plan to partner with four to six universities every quarter in the United States (US). This we intend to achieve through launch of new programmes across regions such as Alabama and Florida. Also, we plan to expand our presence in the United Kingdom (UK) this year, with a focus on London and Newcastle besides Ireland and Scotland,” he added.
upGrad Abroad, though started its operations in January 2021, claims to have enrolled 1500 students between March to December 2021. It further aims to enroll 13,000 learners by FY23 and 30,000 by FY24. As part of its business model, it earns a commission every year from those who have enrolled via its programmes across various international universities. According to Dhawan, all those learners who have enrolled for FY22 have paid approx $4000. This is because they are in their first year and haven’t gone abroad, yet. It further claims to receive a part of the fee as commission from students in their second year. On an average, the tuition fees is about $25,000 for post graduate courses. For undergraduate courses, the average tuition fee is around $40,000. The company claims to offer more than 50 programmes in technology and management domains in partnership with international universities across Canada, Germany, Australia along with the US and UK.
The company further claims to spend the most on mentor fees and marketing. upGrad Abroad further plans to organise events across the country to connect students and universities under one roof starting from Mumbai. It plans to hold similar events in cities such as Hyderabad, Indore, Delhi among other cities.
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